The Manufacturers Life Insurance Company Sells 23,710 Shares of Alliant Energy Co. (NASDAQ:LNT)

The Manufacturers Life Insurance Company lowered its position in shares of Alliant Energy Co. (NASDAQ:LNT - Free Report) by 4.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 474,949 shares of the company's stock after selling 23,710 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.19% of Alliant Energy worth $28,088,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. RDA Financial Network lifted its holdings in shares of Alliant Energy by 2.4% during the fourth quarter. RDA Financial Network now owns 7,990 shares of the company's stock valued at $473,000 after purchasing an additional 184 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in shares of Alliant Energy by 8.2% during the 4th quarter. Global Retirement Partners LLC now owns 2,509 shares of the company's stock valued at $148,000 after acquiring an additional 191 shares during the last quarter. Integrated Wealth Concepts LLC grew its stake in shares of Alliant Energy by 5.0% in the fourth quarter. Integrated Wealth Concepts LLC now owns 4,428 shares of the company's stock worth $262,000 after acquiring an additional 211 shares during the period. Savant Capital LLC raised its holdings in shares of Alliant Energy by 1.5% during the fourth quarter. Savant Capital LLC now owns 15,937 shares of the company's stock valued at $942,000 after purchasing an additional 237 shares during the last quarter. Finally, City State Bank lifted its position in Alliant Energy by 0.4% during the fourth quarter. City State Bank now owns 71,547 shares of the company's stock valued at $4,231,000 after purchasing an additional 257 shares during the period. 79.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LNT has been the topic of a number of recent research reports. Barclays downgraded 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. Guggenheim restated a "neutral" rating and set a $57.00 target price on shares of Alliant Energy in a research report on Monday, February 24th. BMO Capital Markets dropped 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 note on Tuesday, April 22nd. Finally, UBS Group boosted their price objective on shares of Alliant Energy from $65.00 to $68.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Alliant Energy presently has a consensus rating of "Hold" and an average price target of $63.55.

Alliant Energy Price Performance

NASDAQ LNT traded up $0.62 during trading hours on Friday, reaching $61.17. The company's stock had a trading volume of 1,318,950 shares, compared to its average volume of 1,600,136. Alliant Energy Co. has a 1 year low of $49.05 and a 1 year high of $66.54. The firm's 50-day moving average price is $62.17 and its 200-day moving average price is $60.86. The company has a quick ratio of 0.72, a current ratio of 0.86 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $15.71 billion, a price-to-earnings ratio of 22.74, a PEG ratio of 2.83 and a beta of 0.52.

Alliant Energy (NASDAQ:LNT - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.68 by $0.02. The company had revenue of $976.00 million during the quarter, compared to analyst estimates of $1.14 billion. Alliant Energy had a return on equity of 11.39% and a net margin of 17.33%. On average, equities research analysts predict that Alliant Energy Co. will post 3.23 EPS for the current fiscal year.

Alliant Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th will be given a dividend of $0.5075 per share. The ex-dividend date is Wednesday, April 30th. This represents a $2.03 dividend on an annualized basis and a yield of 3.32%. Alliant Energy's dividend payout ratio (DPR) is presently 75.46%.

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.