Westpac Banking Corp Sells 8,126 Shares of Alliant Energy Corporation (NASDAQ:LNT)

Key Points

• Westpac Banking Corp has reduced its shares in Alliant Energy Corporation by 79.2% in Q1, now holding only 2,128 shares valued at approximately $137,000.
• Alliant Energy's recent earnings report showed earnings per share (EPS) of $0.68, exceeding analysts' estimates and reflecting a 7.5% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.5075, equating to an annualized yield of 3.1%, with a payout ratio of 62.65%.

Westpac Banking Corp trimmed its holdings in shares of Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 79.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,128 shares of the company's stock after selling 8,126 shares during the period. Westpac Banking Corp's holdings in Alliant Energy were worth $137,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Utah Retirement Systems increased its stake in Alliant Energy by 0.5% in the 4th quarter. Utah Retirement Systems now owns 42,394 shares of the company's stock valued at $2,507,000 after purchasing an additional 200 shares in the last quarter. Leavell Investment Management Inc. increased its position in Alliant Energy by 3.4% during the first quarter. Leavell Investment Management Inc. now owns 6,061 shares of the company's stock worth $390,000 after buying an additional 200 shares in the last quarter. Moss Adams Wealth Advisors LLC boosted its holdings in shares of Alliant Energy by 5.9% during the first quarter. Moss Adams Wealth Advisors LLC now owns 3,629 shares of the company's stock worth $234,000 after purchasing an additional 201 shares during the last quarter. Larson Financial Group LLC boosted its holdings in shares of Alliant Energy by 28.9% during the first quarter. Larson Financial Group LLC now owns 931 shares of the company's stock worth $60,000 after purchasing an additional 209 shares during the last quarter. Finally, Integrated Wealth Concepts LLC boosted its holdings in Alliant Energy by 5.0% in the fourth quarter. Integrated Wealth Concepts LLC now owns 4,428 shares of the company's stock valued at $262,000 after acquiring an additional 211 shares during the last quarter. 79.90% of the stock is owned by hedge funds and other institutional investors.

Alliant Energy Price Performance

LNT traded down $0.10 during midday trading on Friday, reaching $64.62. 3,185,516 shares of the company's stock were exchanged, compared to its average volume of 1,895,437. The firm has a market capitalization of $16.61 billion, a price-to-earnings ratio of 19.94, a price-to-earnings-growth ratio of 3.05 and a beta of 0.53. The company has a quick ratio of 0.24, a current ratio of 0.57 and a debt-to-equity ratio of 1.35. Alliant Energy Corporation has a one year low of $56.08 and a one year high of $66.76. The business has a 50-day simple moving average of $62.87 and a two-hundred day simple moving average of $62.12.

Alliant Energy (NASDAQ:LNT - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.06. Alliant Energy had a net margin of 20.07% and a return on equity of 12.25%. The company had revenue of $961.00 million during the quarter, compared to analysts' expectations of $977.15 million. During the same quarter in the previous year, the company posted $0.57 earnings per share. Alliant Energy's quarterly revenue was up 7.5% compared to the same quarter last year. As a group, research analysts predict that Alliant Energy Corporation will post 3.23 EPS for the current year.

Alliant Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 31st were paid a $0.5075 dividend. The ex-dividend date was Thursday, July 31st. This represents a $2.03 dividend on an annualized basis and a dividend yield of 3.1%. Alliant Energy's payout ratio is 62.65%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on LNT shares. Wall Street Zen raised Alliant Energy from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. BMO Capital Markets reaffirmed a "market perform" rating and set a $68.00 price target (up from $66.00) on shares of Alliant Energy in a research note on Monday, August 11th. 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 report on Tuesday, April 22nd. Jefferies Financial Group set a $71.00 price objective on Alliant Energy and gave the stock a "buy" rating in a report on Tuesday, May 20th. Finally, UBS Group reissued a "neutral" rating and set a $67.00 target price (up from $65.00) on shares of Alliant Energy in a research report on Friday, July 11th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Alliant Energy has an average rating of "Hold" and a consensus price target of $65.50.

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.