Stephens Inc. AR raised its stake in Alliant Energy Co. (NYSE:LNT) by 2.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 78,974 shares of the utilities provider’s stock after buying an additional 1,709 shares during the period. Stephens Inc. AR’s holdings in Alliant Energy were worth $3,876,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. DekaBank Deutsche Girozentrale grew its holdings in shares of Alliant Energy by 89.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 76,243 shares of the utilities provider’s stock valued at $3,771,000 after purchasing an additional 35,911 shares during the last quarter. Advisory Services Network LLC lifted its position in shares of Alliant Energy by 354.1% in the 2nd quarter. Advisory Services Network LLC now owns 722 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 563 shares during the period. Coastal Investment Advisors Inc. lifted its position in shares of Alliant Energy by 50.8% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 5,543 shares of the utilities provider’s stock worth $274,000 after purchasing an additional 1,867 shares during the period. Tdam USA Inc. lifted its position in shares of Alliant Energy by 3.7% in the 2nd quarter. Tdam USA Inc. now owns 24,220 shares of the utilities provider’s stock worth $1,189,000 after purchasing an additional 870 shares during the period. Finally, Stevens Capital Management LP lifted its position in shares of Alliant Energy by 83.5% in the 2nd quarter. Stevens Capital Management LP now owns 69,840 shares of the utilities provider’s stock worth $3,428,000 after purchasing an additional 31,781 shares during the period. 71.12% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Chairman Patricia L. Kampling sold 10,000 shares of Alliant Energy stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $47.55, for a total transaction of $475,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP James H. Gallegos sold 5,000 shares of Alliant Energy stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $50.00, for a total transaction of $250,000.00. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.
LNT has been the subject of several research analyst reports. Argus reaffirmed a “buy” rating and issued a $52.00 target price on shares of Alliant Energy in a research report on Wednesday, June 5th. Zacks Investment Research cut shares of Alliant Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Finally, Bank of America raised shares of Alliant Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $50.00 to $54.00 in a research report on Wednesday, June 26th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Alliant Energy presently has a consensus rating of “Buy” and an average price target of $49.92.
Shares of NYSE:LNT traded up $0.07 on Friday, hitting $51.64. The company had a trading volume of 45,915 shares, compared to its average volume of 1,323,234. The firm’s 50-day simple moving average is $50.11 and its two-hundred day simple moving average is $47.77. Alliant Energy Co. has a 1 year low of $40.68 and a 1 year high of $51.77. The company has a quick ratio of 0.59, a current ratio of 0.73 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $12.25 billion, a price-to-earnings ratio of 26.91, a P/E/G ratio of 3.28 and a beta of 0.18.
Alliant Energy (NYSE:LNT) last posted its earnings results on Thursday, August 1st. The utilities provider reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.04). Alliant Energy had a return on equity of 11.69% and a net margin of 15.09%. The company had revenue of $790.20 million during the quarter, compared to analysts’ expectations of $828.79 million. During the same period in the prior year, the business posted $0.43 earnings per share. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. Equities research analysts anticipate that Alliant Energy Co. will post 2.15 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were given a dividend of $0.355 per share. The ex-dividend date was Tuesday, July 30th. This represents a $1.42 dividend on an annualized basis and a yield of 2.75%. Alliant Energy’s dividend payout ratio (DPR) is currently 73.58%.
About Alliant Energy
Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services in the Midwest region of the United States. It operates through three segments: Electric, Gas, and 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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