TIAA Trust National Association Purchases 3,876 Shares of Alliant Energy Corporation (NASDAQ:LNT)

Key Points

• TIAA Trust National Association increased its stake in Alliant Energy by 84.0% during the first quarter, holding 8,493 shares valued at $547,000.
• Alliant Energy reported $0.83 earnings per share for the last quarter, exceeding expectations of $0.71, with revenue rising 9.4% year-over-year.
• The company declared a quarterly dividend of $0.5075 per share, resulting in a 3.1% dividend yield and a payout ratio of 70.00%.

TIAA Trust National Association lifted its holdings in shares of Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 84.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 8,493 shares of the company's stock after purchasing an additional 3,876 shares during the period. TIAA Trust National Association's holdings in Alliant Energy were worth $547,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Hughes Financial Services LLC bought a new position in shares of Alliant Energy in the 1st quarter worth $27,000. Alpine Bank Wealth Management bought a new position in shares of Alliant Energy during the first quarter worth $29,000. TD Private Client Wealth LLC bought a new position in shares of Alliant Energy during the first quarter worth $34,000. First Command Advisory Services Inc. bought a new position in shares of Alliant Energy during the first quarter worth $34,000. Finally, Tsfg LLC bought a new position in Alliant Energy during the first quarter worth about $34,000. Institutional investors own 79.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on LNT shares. Wall Street Zen upgraded Alliant Energy from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. Wolfe Research raised 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 research report on Monday, July 7th. Jefferies Financial Group set a $71.00 price objective on shares of Alliant Energy and gave the stock a "buy" rating in a research report on Tuesday, May 20th. UBS Group reissued a "neutral" rating and set a $67.00 price target (up from $65.00) on shares of Alliant Energy in a research report on Friday, July 11th. Finally, 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 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 assigned a buy rating to the stock. According to data from MarketBeat, Alliant Energy presently has a consensus rating of "Hold" and a consensus price target of $64.23.

Alliant Energy Trading Down 0.5%

Shares of NASDAQ:LNT traded down $0.30 during midday trading on Wednesday, hitting $65.77. 1,541,681 shares of the stock were exchanged, compared to its average volume of 1,980,855. The stock has a market capitalization of $16.89 billion, a price-to-earnings ratio of 22.68, a P/E/G ratio of 3.13 and a beta of 0.53. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.24 and a current ratio of 0.34. The business's 50-day moving average price is $62.24 and its 200 day moving average price is $61.79. Alliant Energy Corporation has a 12 month low of $55.17 and a 12 month high of $66.62.

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

Alliant Energy Announces Dividend

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