Alliant Energy Corporation (NASDAQ:LNT) Stock Holdings Lessened by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its stake in Alliant Energy by 6.6%, now holding shares valued at $7.21 million.
• Several institutional investors, including Geode Capital Management and Massachusetts Financial Services, have increased their positions in Alliant Energy, reflecting a strong interest in the company.
• Analysts have mixed ratings on Alliant Energy, with a consensus target price of $64.23 and recent price adjustments, indicating varying outlooks on the stock's performance.

TD Asset Management Inc lowered its stake in shares of Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 6.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 112,096 shares of the company's stock after selling 7,938 shares during the period. TD Asset Management Inc's holdings in Alliant Energy were worth $7,213,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in LNT. Janus Henderson Group PLC raised its position in shares of Alliant Energy by 0.7% in the 4th quarter. Janus Henderson Group PLC now owns 10,768,159 shares of the company's stock worth $636,829,000 after buying an additional 76,987 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Alliant Energy by 7.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,012,572 shares of the company's stock worth $414,724,000 after purchasing an additional 499,802 shares during the period. Geode Capital Management LLC lifted its stake in shares of Alliant Energy by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 6,695,767 shares of the company's stock valued at $395,017,000 after purchasing an additional 102,601 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of Alliant Energy by 9,113.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,187,345 shares of the company's stock valued at $247,640,000 after purchasing an additional 4,141,895 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Alliant Energy by 7.9% during the 4th quarter. Northern Trust Corp now owns 2,412,406 shares of the company's stock worth $142,670,000 after purchasing an additional 177,129 shares during the period. Institutional investors and hedge funds own 79.90% of the company's stock.

Alliant Energy Stock Up 0.0%

Shares of NASDAQ:LNT traded up $0.03 during midday trading on Tuesday, reaching $66.37. The company had a trading volume of 747,600 shares, compared to its average volume of 1,975,596. The stock has a market capitalization of $17.05 billion, a P/E ratio of 22.87, a PEG ratio of 3.09 and a beta of 0.53. The stock's fifty day moving average price is $62.17 and its 200-day moving average price is $61.76. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.34 and a quick ratio of 0.24. Alliant Energy Corporation has a one year low of $55.17 and a one year high of $66.62.

Alliant Energy (NASDAQ:LNT - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.12. Alliant Energy had a net margin of 18.26% and a return on equity of 12.01%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the firm earned $0.62 EPS. The company's revenue was up 9.4% on a year-over-year basis. Equities research analysts expect that Alliant Energy Corporation will post 3.23 earnings per share for the current fiscal year.

Alliant Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 31st will be issued a $0.5075 dividend. This represents a $2.03 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Thursday, July 31st. Alliant Energy's payout ratio is 70.00%.

Analysts Set New Price Targets

LNT has been the topic of several research reports. BMO Capital Markets cut their price target on shares of Alliant Energy from $66.00 to $64.00 and set a "market perform" rating on the stock in a report on Tuesday, April 22nd. Wall Street Zen raised shares of Alliant Energy from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. Jefferies Financial Group set a $71.00 price objective on Alliant Energy and gave the company a "buy" rating in a research report on Tuesday, May 20th. Wolfe Research upgraded Alliant Energy from a "peer perform" rating to an "outperform" rating and set a $68.00 price objective on the stock in a research note on Monday, July 7th. Finally, Barclays lowered Alliant Energy from an "equal weight" rating to an "underweight" rating and increased their target price for the company from $59.00 to $61.00 in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Alliant Energy has an average rating of "Hold" and a consensus price target of $64.23.

About Alliant Energy

Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services in the United States. It operates in three segments: Utility Electric Operations, Utility Gas Operations, and Utility Other. The company, through its subsidiary, Interstate Power and Light Company (IPL), primarily generates and distributes electricity, and distributes and transports natural gas to retail customers in Iowa; sells electricity to wholesale customers in Minnesota, Illinois, and Iowa; and generates and distributes steam in Cedar Rapids, Iowa.