TD Asset Management Inc Has $7.21 Million Position in Alliant Energy Corporation (NASDAQ:LNT)

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 lessened its holdings in shares of Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 6.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Blair William & Co. IL lifted its stake in Alliant Energy by 4.2% in the fourth quarter. Blair William & Co. IL now owns 19,479 shares of the company's stock valued at $1,152,000 after buying an additional 787 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in Alliant Energy by 24.3% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 77,192 shares of the company's stock valued at $4,565,000 after acquiring an additional 15,073 shares in the last quarter. National Bank of Canada FI boosted its stake in Alliant Energy by 5.6% in the 4th quarter. National Bank of Canada FI now owns 213,382 shares of the company's stock worth $12,626,000 after purchasing an additional 11,374 shares during the period. Geode Capital Management LLC increased its holdings in Alliant Energy by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 6,695,767 shares of the company's stock worth $395,017,000 after purchasing an additional 102,601 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake 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 valued at $414,724,000 after purchasing an additional 499,802 shares during the period. 79.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on LNT shares. BMO Capital Markets reduced their price objective on Alliant Energy from $66.00 to $64.00 and set a "market perform" rating for the company in a research report on Tuesday, April 22nd. UBS Group reaffirmed a "neutral" rating and set a $67.00 price target (up previously from $65.00) on shares of Alliant Energy in a research report on Friday, July 11th. Wolfe Research upgraded shares of Alliant Energy from a "peer perform" rating to an "outperform" rating and set a $68.00 price objective on the stock in a report on Monday, July 7th. Jefferies Financial Group set a $71.00 target price on shares of Alliant Energy and gave the stock a "buy" rating in a report on Tuesday, May 20th. Finally, Barclays downgraded shares of Alliant Energy from an "equal weight" rating to an "underweight" rating and raised their target price for the company from $59.00 to $61.00 in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $64.23.

Alliant Energy Stock Performance

Shares of LNT stock opened at $65.01 on Friday. The stock has a market cap of $16.70 billion, a P/E ratio of 22.42, a P/E/G ratio of 3.07 and a beta of 0.56. The company has a fifty day moving average price of $62.00 and a two-hundred day moving average price of $61.63. Alliant Energy Corporation has a one year low of $54.98 and a one year high of $66.54. 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 (NASDAQ:LNT - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.12. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.09 billion. Alliant Energy had a net margin of 18.26% and a return on equity of 12.01%. Alliant Energy's revenue was up 9.4% on a year-over-year basis. During the same period last year, the business posted $0.62 EPS. As a group, equities analysts predict that Alliant Energy Corporation will post 3.23 EPS for the current year.

Alliant Energy Announces Dividend

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

Alliant Energy Profile

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.

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