Cambridge Investment Research Advisors Inc. boosted its stake in Alliant Energy Co. (NYSE:LNT) by 10.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,550 shares of the utilities provider’s stock after buying an additional 6,309 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Alliant Energy were worth $3,327,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of LNT. Guggenheim Capital LLC lifted its stake in Alliant Energy by 5.0% in the 4th quarter. Guggenheim Capital LLC now owns 155,378 shares of the utilities provider’s stock valued at $8,502,000 after buying an additional 7,381 shares in the last quarter. Macquarie Group Ltd. raised its holdings in Alliant Energy by 1.4% in the 4th quarter. Macquarie Group Ltd. now owns 165,303 shares of the utilities provider’s stock valued at $9,046,000 after acquiring an additional 2,286 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in Alliant Energy by 11.1% in the 4th quarter. Quadrant Capital Group LLC now owns 3,076 shares of the utilities provider’s stock valued at $158,000 after acquiring an additional 307 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in Alliant Energy by 8.6% in the 1st quarter. State of Alaska Department of Revenue now owns 165,215 shares of the utilities provider’s stock valued at $7,977,000 after acquiring an additional 13,040 shares during the last quarter. Finally, IBM Retirement Fund acquired a new stake in Alliant Energy in the 1st quarter valued at about $273,000. 71.12% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE LNT opened at $53.85 on Friday. The company has a 50 day simple moving average of $49.63 and a 200-day simple moving average of $51.49. The company has a market capitalization of $13.44 billion, a P/E ratio of 27.90, a P/E/G ratio of 3.28 and a beta of 0.18. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.73 and a quick ratio of 0.59. Alliant Energy Co. has a 1 year low of $37.66 and a 1 year high of $60.28.
Alliant Energy (NYSE:LNT) last announced its quarterly earnings results on Thursday, May 7th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.18. The business had revenue of $915.70 million during the quarter, compared to the consensus estimate of $979.61 million. Alliant Energy had a net margin of 15.09% and a return on equity of 11.69%. The business’s revenue was down 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.53 EPS. As a group, research analysts expect that Alliant Energy Co. will post 2.15 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Friday, July 31st will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $1.52 annualized dividend and a yield of 2.82%. Alliant Energy’s dividend payout ratio (DPR) is presently 78.76%.
Separately, Wells Fargo & Co cut their price objective on shares of Alliant Energy from $65.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Alliant Energy currently has an average rating of “Buy” and an average target price of $55.20.
Alliant Energy Company Profile
Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services in the Midwest region of the United States. It operates through three segments: Electric, Gas, and 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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