Corient Private Wealth LP bought a new stake in Alliant Energy Corporation (NASDAQ:LNT – Free Report) in the 2nd quarter, Holdings Channel.com reports. The fund bought 42,076 shares of the company’s stock, valued at approximately $3,210,000.
Other hedge funds also recently bought and sold shares of the company. Janus Henderson Group PLC boosted its position in shares of Alliant Energy by 1.2% during the first quarter. Janus Henderson Group PLC now owns 11,273,621 shares of the company’s stock worth $808,996,000 after purchasing an additional 138,683 shares in the last quarter. Jupiter Topco LLC bought a new stake in shares of Alliant Energy in the 2nd quarter valued at $837,468,000. Price T Rowe Associates Inc. MD raised its stake in Alliant Energy by 799.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,393,496 shares of the company’s stock worth $545,662,000 after buying an additional 7,460,117 shares during the period. Geode Capital Management LLC raised its stake in Alliant Energy by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 7,071,908 shares of the company’s stock worth $458,071,000 after buying an additional 128,998 shares during the period. Finally, Cohen & Steers Inc. lifted its holdings in Alliant Energy by 41.7% during the fourth quarter. Cohen & Steers Inc. now owns 3,614,890 shares of the company’s stock worth $235,004,000 after acquiring an additional 1,063,268 shares in the last quarter. 79.90% of the stock is currently owned by institutional investors and hedge funds.
Alliant Energy Stock Performance
LNT opened at $67.92 on Wednesday. The company has a market capitalization of $17.61 billion, a price-to-earnings ratio of 21.49, a P/E/G ratio of 2.52 and a beta of 0.54. The business’s 50-day moving average price is $72.63 and its two-hundred day moving average price is $72.24. Alliant Energy Corporation has a 1 year low of $63.28 and a 1 year high of $78.81. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.47 and a quick ratio of 0.35.
Alliant Energy Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Friday, July 31st were given a dividend of $0.535 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $2.14 dividend on an annualized basis and a yield of 3.2%. Alliant Energy’s dividend payout ratio is 67.72%.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on LNT. Jefferies Financial Group reissued a “buy” rating and issued a $80.00 target price on shares of Alliant Energy in a research note on Thursday, August 27th. Wall Street Zen cut Alliant Energy from a “hold” rating to a “sell” rating in a report on Sunday, August 9th. Weiss Ratings lowered Alliant Energy from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. BMO Capital Markets decreased their price objective on Alliant Energy from $80.00 to $78.00 and set an “outperform” rating for the company in a research report on Monday, August 3rd. Finally, TD Cowen assumed coverage on Alliant Energy in a research note on Tuesday, July 7th. They set a “hold” rating and a $83.00 target price for the company. Nine analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Alliant Energy presently has an average rating of “Moderate Buy” and an average target price of $77.00.
Read Our Latest Research Report on LNT
Alliant Energy Profile
Alliant Energy Corporation (NASDAQ: LNT) is a publicly traded energy holding company headquartered in Madison, Wisconsin, that provides regulated electric and natural gas utility services in the American Midwest. The company serves customers primarily in Wisconsin and Iowa through its regulated utility subsidiaries and operates as an integrated provider responsible for generation, transmission and distribution of energy to residential, commercial and industrial customers.
Alliant Energy’s core activities include operating and maintaining electric generation assets, managing the regional transmission and distribution network, and delivering natural gas service to its franchise territories.
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