OLD National Bancorp IN lowered its position in shares of Alliant Energy Co. (NASDAQ:LNT – Free Report) by 62.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,808 shares of the company’s stock after selling 9,691 shares during the quarter. OLD National Bancorp IN’s holdings in Alliant Energy were worth $310,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently modified their holdings of LNT. Northwest Investment Counselors LLC bought a new position in shares of Alliant Energy during the 1st quarter worth approximately $25,000. Financial Freedom LLC bought a new stake in shares of Alliant Energy in the 4th quarter worth approximately $25,000. Romano Brothers AND Company bought a new stake in shares of Alliant Energy in the 4th quarter worth approximately $29,000. Accurate Wealth Management LLC bought a new stake in shares of Alliant Energy in the 4th quarter worth approximately $33,000. Finally, Dark Forest Capital Management LP bought a new stake in shares of Alliant Energy in the 4th quarter worth approximately $34,000. Institutional investors own 76.45% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts recently commented on LNT shares. Bank of America raised shares of Alliant Energy from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $55.00 to $58.00 in a report on Monday, June 26th. Wells Fargo & Company raised shares of Alliant Energy from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $58.00 to $61.00 in a report on Wednesday, April 19th. BMO Capital Markets raised shares of Alliant Energy from a “market perform” rating to an “outperform” rating and lowered their price target for the stock from $60.00 to $56.00 in a report on Tuesday, May 30th. LADENBURG THALM/SH SH started coverage on shares of Alliant Energy in a research note on Friday, June 16th. They issued a “neutral” rating and a $52.50 price objective for the company. Finally, StockNews.com started coverage on shares of Alliant Energy in a research note on Thursday, May 18th. They issued a “sell” rating for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Alliant Energy presently has an average rating of “Hold” and a consensus target price of $58.05.
Alliant Energy Stock Up 1.1 %
Alliant Energy (NASDAQ:LNT – Free Report) last released its quarterly earnings results on Friday, May 5th. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Alliant Energy had a net margin of 15.60% and a return on equity of 10.74%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the firm earned $0.77 earnings per share. Equities research analysts expect that Alliant Energy Co. will post 2.88 earnings per share for the current fiscal year.
Alliant Energy Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, May 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.41%. Alliant Energy’s dividend payout ratio (DPR) is currently 69.35%.
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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