Honkamp Krueger Financial Services Inc. lowered its position in Alliant Energy Co. (NYSE:LNT) by 19.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 7,804 shares of the utilities provider’s stock after selling 1,899 shares during the period. Honkamp Krueger Financial Services Inc.’s holdings in Alliant Energy were worth $333,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Employees Retirement System of Texas lifted its stake in Alliant Energy by 93.3% in the fourth quarter. Employees Retirement System of Texas now owns 29,000 shares of the utilities provider’s stock valued at $1,236,000 after buying an additional 14,000 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in Alliant Energy by 5.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 852,629 shares of the utilities provider’s stock valued at $36,331,000 after buying an additional 41,877 shares during the last quarter. BlackRock Inc. lifted its stake in Alliant Energy by 3.3% in the fourth quarter. BlackRock Inc. now owns 18,971,645 shares of the utilities provider’s stock valued at $808,383,000 after buying an additional 611,677 shares during the last quarter. Schroder Investment Management Group lifted its stake in Alliant Energy by 45.2% in the fourth quarter. Schroder Investment Management Group now owns 1,682,521 shares of the utilities provider’s stock valued at $71,692,000 after buying an additional 523,476 shares during the last quarter. Finally, Covalis Capital LLP purchased a new stake in Alliant Energy in the fourth quarter valued at approximately $8,007,000. Institutional investors own 68.53% of the company’s stock.
Shares of Alliant Energy Co. (NYSE LNT) opened at $39.14 on Wednesday. Alliant Energy Co. has a 52 week low of $36.84 and a 52 week high of $45.55. The company has a current ratio of 0.51, a quick ratio of 0.36 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $9,190.38, a P/E ratio of 21.26, a PEG ratio of 3.49 and a beta of 0.35.
Alliant Energy announced that its board has approved a stock buyback program on Monday, January 15th that authorizes the company to buyback shares. This buyback authorization authorizes the utilities provider to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st were paid a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a dividend yield of 3.42%. The ex-dividend date was Tuesday, January 30th. This is a boost from Alliant Energy’s previous quarterly dividend of $0.32. Alliant Energy’s dividend payout ratio is 72.04%.
A number of brokerages have weighed in on LNT. Wells Fargo & Co cut Alliant Energy from an “outperform” rating to a “market perform” rating in a research note on Monday, December 18th. Zacks Investment Research cut Alliant Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, October 24th. Bank of America started coverage on Alliant Energy in a research note on Tuesday, October 24th. They set a “neutral” rating and a $45.00 price target for the company. Guggenheim restated a “hold” rating and set a $43.00 price target on shares of Alliant Energy in a research note on Wednesday, January 3rd. Finally, UBS Group started coverage on Alliant Energy in a research note on Friday, February 2nd. They set a “neutral” rating and a $40.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. Alliant Energy presently has an average rating of “Hold” and an average target price of $42.80.
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Alliant Energy Company Profile
Alliant Energy Corporation operates as a regulated investor-owned public utility holding company. The Company’s segments include Utility and Non-regulated, Parent and Other. The Utility segment includes the operations of Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL), which serve retail customers in Iowa and Wisconsin.
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