Van ECK Associates Corp lifted its stake in shares of Alliant Energy Co. (NASDAQ:LNT – Free Report) by 7.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,802 shares of the company’s stock after purchasing an additional 4,495 shares during the period. Van ECK Associates Corp’s holdings in Alliant Energy were worth $3,461,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. Dividend Assets Capital LLC grew its stake in Alliant Energy by 100.0% during the 4th quarter. Dividend Assets Capital LLC now owns 1,520 shares of the company’s stock worth $84,000 after purchasing an additional 760 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Alliant Energy by 1.4% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,679 shares of the company’s stock worth $1,158,000 after purchasing an additional 290 shares in the last quarter. Avestar Capital LLC raised its stake in Alliant Energy by 43.0% in the first quarter. Avestar Capital LLC now owns 6,896 shares of the company’s stock valued at $368,000 after buying an additional 2,075 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in Alliant Energy by 13.2% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 47,380 shares of the company’s stock worth $2,616,000 after buying an additional 5,528 shares during the last quarter. Finally, LexAurum Advisors LLC increased its holdings in shares of Alliant Energy by 53.2% in the 1st quarter. LexAurum Advisors LLC now owns 5,935 shares of the company’s stock valued at $317,000 after acquiring an additional 2,062 shares during the last quarter. 76.45% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on LNT. BMO Capital Markets raised shares of Alliant Energy from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from $60.00 to $56.00 in a report on Tuesday, May 30th. Wells Fargo & Company upgraded shares of Alliant Energy from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $58.00 to $61.00 in a research note on Wednesday, April 19th. LADENBURG THALM/SH SH began coverage on Alliant Energy in a research report on Friday, June 16th. They set a “neutral” rating and a $52.50 target price on the stock. StockNews.com assumed coverage on Alliant Energy in a research note on Thursday, May 18th. They set a “sell” rating on the stock. Finally, Bank of America upgraded Alliant Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $55.00 to $58.00 in a research note on Monday, June 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $57.28.
Alliant Energy Price Performance
Alliant Energy (NASDAQ:LNT – Get Free Report) last posted its quarterly earnings results on Friday, May 5th. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). Alliant Energy had a net margin of 15.60% and a return on equity of 10.74%. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter last year, the firm earned $0.77 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year. Research analysts predict that Alliant Energy Co. will post 2.87 earnings per share for the current year.
Alliant Energy Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be issued a $0.4525 dividend. The ex-dividend date is Friday, July 28th. This represents a $1.81 dividend on an annualized basis and a yield of 3.40%. Alliant Energy’s dividend payout ratio (DPR) is presently 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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