First Midwest Bank Trust Division reduced its holdings in Alliant Energy Co. (NYSE:LNT) by 21.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,627 shares of the utilities provider’s stock after selling 5,120 shares during the period. First Midwest Bank Trust Division’s holdings in Alliant Energy were worth $1,005,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Private Capital Group LLC grew its holdings in shares of Alliant Energy by 367.7% during the 2nd quarter. Private Capital Group LLC now owns 580 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 456 shares during the last quarter. NumerixS Investment Technologies Inc bought a new stake in shares of Alliant Energy in the 2nd quarter valued at $29,000. Personal Wealth Partners bought a new stake in shares of Alliant Energy in the 2nd quarter valued at $31,000. Advisory Services Network LLC boosted its stake in shares of Alliant Energy by 354.1% in the 2nd quarter. Advisory Services Network LLC now owns 722 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 563 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its stake in shares of Alliant Energy by 583.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 779 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 665 shares during the last quarter. Institutional investors and hedge funds own 71.12% of the company’s stock.
LNT traded up $0.18 during trading on Friday, hitting $51.68. 1,522,195 shares of the company’s stock were exchanged, compared to its average volume of 1,316,679. The company has a quick ratio of 0.59, a current ratio of 0.73 and a debt-to-equity ratio of 1.15. The business’s 50 day moving average is $53.16 and its two-hundred day moving average is $50.53. Alliant Energy Co. has a fifty-two week low of $40.68 and a fifty-two week high of $54.59. The stock has a market cap of $12.32 billion, a P/E ratio of 26.78, a PEG ratio of 3.28 and a beta of 0.18.
Alliant Energy (NYSE:LNT) last released its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.94 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.01. Alliant Energy had a net margin of 15.09% and a return on equity of 11.69%. The firm had revenue of $990.20 million for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the company posted $0.85 earnings per share. The business’s revenue was up 6.6% on a year-over-year basis. On average, sell-side analysts forecast that Alliant Energy Co. will post 2.15 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a $0.355 dividend. The ex-dividend date is Wednesday, October 30th. This represents a $1.42 annualized dividend and a dividend yield of 2.75%. Alliant Energy’s dividend payout ratio is currently 73.58%.
Separately, UBS Group upped their price objective on shares of Alliant Energy from $49.00 to $53.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $50.36.
In related news, SVP Leon David A. De purchased 941 shares of Alliant Energy stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average price of $53.15 per share, for a total transaction of $50,014.15. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP James H. Gallegos sold 5,000 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $52.29, for a total transaction of $261,450.00. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.
Alliant Energy 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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