abrdn plc grew its stake in Alliant Energy Co. (NASDAQ:LNT - Free Report) by 72.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,677 shares of the company's stock after acquiring an additional 43,513 shares during the period. abrdn plc's holdings in Alliant Energy were worth $5,319,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Wetzel Investment Advisors Inc. bought a new position in Alliant Energy in the 4th quarter worth about $26,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Alliant Energy in the 4th quarter worth approximately $38,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Alliant Energy in the 3rd quarter worth approximately $38,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Alliant Energy in the 4th quarter worth approximately $43,000. Finally, Authentikos Wealth Advisory LLC purchased a new stake in shares of Alliant Energy in the 3rd quarter worth approximately $42,000. 79.90% of the stock is currently owned by institutional investors.
Alliant Energy Stock Performance
LNT stock traded down $0.64 during midday trading on Friday, hitting $49.59. 1,661,302 shares of the stock traded hands, compared to its average volume of 1,451,337. The firm has a market cap of $12.70 billion, a P/E ratio of 17.84, a PEG ratio of 2.65 and a beta of 0.55. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.55 and a quick ratio of 0.40. The stock's fifty day simple moving average is $48.90 and its 200-day simple moving average is $49.54. Alliant Energy Co. has a 1-year low of $45.15 and a 1-year high of $56.26.
Alliant Energy (NASDAQ:LNT - Get Free Report) last released its quarterly earnings results on Friday, February 16th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.07). The firm had revenue of $961.00 million for the quarter, compared to analyst estimates of $1.25 billion. Alliant Energy had a net margin of 17.46% and a return on equity of 10.85%. During the same quarter in the prior year, the business posted $0.46 EPS. On average, analysts expect that Alliant Energy Co. will post 3.07 earnings per share for the current year.
Alliant Energy Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 3.87%. The ex-dividend date of this dividend is Monday, April 29th. Alliant Energy's payout ratio is 69.06%.
Insider Buying and Selling at Alliant Energy
In other Alliant Energy news, CEO Lisa M. Barton purchased 1,100 shares of the firm's stock in a transaction dated Tuesday, February 20th. The shares were purchased at an average cost of $48.56 per share, with a total value of $53,416.00. Following the completion of the purchase, the chief executive officer now owns 36,444 shares in the company, valued at approximately $1,769,720.64. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.31% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on LNT. BMO Capital Markets upped their price target on shares of Alliant Energy from $51.00 to $53.00 and gave the stock a "market perform" rating in a research report on Monday, April 15th. Barclays reissued an "equal weight" rating and set a $53.00 target price (up previously from $50.00) on shares of Alliant Energy in a research report on Tuesday, January 2nd. Scotiabank decreased their target price on shares of Alliant Energy from $57.00 to $53.00 and set a "sector outperform" rating for the company in a research report on Monday, April 22nd. Finally, Bank of America decreased their target price on shares of Alliant Energy from $55.00 to $54.00 and set a "buy" rating for the company in a research report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $51.36.
Read Our Latest Research Report on Alliant Energy
About Alliant Energy
(
Free Report)
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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