State of Alaska Department of Revenue reduced its stake in shares of Alliant Energy Co. (NASDAQ:LNT – Free Report) by 1.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 43,472 shares of the company’s stock after selling 565 shares during the period. State of Alaska Department of Revenue’s holdings in Alliant Energy were worth $2,321,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of the stock. Utah Retirement Systems grew its holdings in Alliant Energy by 0.4% during the 3rd quarter. Utah Retirement Systems now owns 44,794 shares of the company’s stock worth $2,374,000 after acquiring an additional 200 shares during the period. FDx Advisors Inc. grew its holdings in Alliant Energy by 4.2% during the 4th quarter. FDx Advisors Inc. now owns 5,017 shares of the company’s stock worth $277,000 after acquiring an additional 200 shares during the period. Financial Planning & Information Services Inc. grew its holdings in Alliant Energy by 1.6% during the 4th quarter. Financial Planning & Information Services Inc. now owns 12,365 shares of the company’s stock worth $683,000 after acquiring an additional 200 shares during the period. Linscomb & Williams Inc. grew its holdings in Alliant Energy by 3.9% during the 4th quarter. Linscomb & Williams Inc. now owns 5,298 shares of the company’s stock worth $293,000 after acquiring an additional 200 shares during the period. Finally, Hills Bank & Trust Co grew its holdings in Alliant Energy by 0.5% during the 4th quarter. Hills Bank & Trust Co now owns 45,182 shares of the company’s stock worth $2,494,000 after acquiring an additional 210 shares during the period. 76.45% of the stock is owned by institutional investors.
Alliant Energy Price Performance
Shares of NASDAQ LNT opened at $52.48 on Friday. Alliant Energy Co. has a fifty-two week low of $47.19 and a fifty-two week high of $64.62. The stock has a market cap of $13.19 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 2.78 and a beta of 0.56. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.48 and a current ratio of 0.62. The firm’s 50-day simple moving average is $52.98 and its 200 day simple moving average is $52.99.
Alliant Energy Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Friday, April 28th were given a dividend of $0.4525 per share. The ex-dividend date of this dividend was Thursday, April 27th. This represents a $1.81 annualized dividend and a dividend yield of 3.45%. Alliant Energy’s dividend payout ratio is currently 69.35%.
Analyst Ratings Changes
A number of analysts have weighed in on the company. Bank of America upgraded Alliant Energy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $55.00 to $58.00 in a report on Monday, June 26th. Wells Fargo & Company upgraded Alliant Energy from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $58.00 to $61.00 in a research note on Wednesday, April 19th. BMO Capital Markets upgraded Alliant Energy from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $60.00 to $56.00 in a research note on Tuesday, May 30th. StockNews.com began coverage on Alliant Energy in a research note on Thursday, May 18th. They issued a “sell” rating for the company. Finally, LADENBURG THALM/SH SH began coverage on Alliant Energy in a research note on Friday, June 16th. They issued a “neutral” rating and a $52.50 target price for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $58.05.
About Alliant Energy
Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services. It operates through 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.
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