Alliant Energy Co. (NASDAQ:LNT) Shares Sold by State Board of Administration of Florida Retirement System

Posted by on May 8th, 2023

State Board of Administration of Florida Retirement System lessened its holdings in shares of Alliant Energy Co. (NASDAQ:LNT – Get Rating) by 4.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 306,306 shares of the company’s stock after selling 12,850 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.12% of Alliant Energy worth $16,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Great West Life Assurance Co. Can boosted its stake in shares of Alliant Energy by 3.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 117,612 shares of the company’s stock worth $7,714,000 after acquiring an additional 3,451 shares in the last quarter. Prudential PLC purchased a new position in Alliant Energy during the first quarter worth approximately $427,000. National Pension Service grew its holdings in Alliant Energy by 11,488.8% in the first quarter. National Pension Service now owns 371,883 shares of the company’s stock valued at $23,235,000 after purchasing an additional 368,674 shares during the period. Vanguard Group Inc. increased its position in shares of Alliant Energy by 1.1% in the first quarter. Vanguard Group Inc. now owns 31,030,199 shares of the company’s stock valued at $1,938,766,000 after buying an additional 342,340 shares in the last quarter. Finally, Covestor Ltd raised its stake in shares of Alliant Energy by 67.2% during the 1st quarter. Covestor Ltd now owns 1,988 shares of the company’s stock worth $124,000 after buying an additional 799 shares during the period. 75.89% of the stock is currently owned by institutional investors and hedge funds.

Alliant Energy Stock Performance

NASDAQ LNT opened at $55.11 on Monday. The business’s 50 day moving average is $53.86 and its two-hundred day moving average is $53.66. The company has a current ratio of 0.53, a quick ratio of 0.39 and a debt-to-equity ratio of 1.22. Alliant Energy Co. has a 12-month low of $47.19 and a 12-month high of $64.62. The stock has a market capitalization of $13.85 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 2.96 and a beta of 0.55.

Alliant Energy (NASDAQ:LNT – Get Rating) last announced its quarterly earnings results on Thursday, May 4th. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.17 billion. Alliant Energy had a net margin of 15.60% and a return on equity of 10.78%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the business earned $0.77 EPS. Research analysts expect that Alliant Energy Co. will post 2.9 EPS for the current year.

Alliant Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 15th. Stockholders of record on Friday, April 28th will be issued a $0.4525 dividend. The ex-dividend date is Thursday, April 27th. This represents a $1.81 dividend on an annualized basis and a dividend yield of 3.28%. Alliant Energy’s dividend payout ratio (DPR) is 69.35%.

Analyst Ratings Changes

A number of equities analysts have weighed in on LNT shares. StockNews.com began coverage on shares of Alliant Energy in a research report on Thursday, March 16th. They set a “sell” rating for the company. Wells Fargo & Company upgraded Alliant Energy from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $58.00 to $61.00 in a report on Wednesday, April 19th. Mizuho lowered shares of Alliant Energy from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $64.00 to $55.00 in a research note on Monday, January 9th. BMO Capital Markets dropped their price target on Alliant Energy from $59.00 to $58.00 and set a “market perform” rating for the company in a research report on Monday, February 27th. Finally, Guggenheim upgraded Alliant Energy from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $46.00 to $52.00 in a research report on Tuesday, February 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Alliant Energy currently has an average rating of “Hold” and a consensus target price of $58.67.

Alliant Energy Company Profile

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Alliant Energy Corp. is a regulated investor-owned public utility holding company, which engages in the provision of regulated electricity and natural gas service to natural gas customers in the Midwest through its two public utility subsidiaries. It operates through following segments: Electric Utility, Gas Utility, Other Utility, and Non-Utility and Other.

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Institutional Ownership by Quarter for Alliant Energy (NASDAQ:LNT)

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