Hanson & Doremus Investment Management decreased its position in Alliant Energy Co. (NYSE:LNT) by 2.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,342 shares of the utilities provider’s stock after selling 437 shares during the quarter. Hanson & Doremus Investment Management’s holdings in Alliant Energy were worth $881,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Man Group plc lifted its holdings in Alliant Energy by 50.6% in the second quarter. Man Group plc now owns 58,055 shares of the utilities provider’s stock valued at $2,849,000 after acquiring an additional 19,514 shares during the period. First Trust Advisors LP lifted its position in Alliant Energy by 28.8% during the 2nd quarter. First Trust Advisors LP now owns 1,405,069 shares of the utilities provider’s stock worth $68,961,000 after acquiring an additional 314,566 shares in the last quarter. Bailard Inc. acquired a new position in Alliant Energy during the 2nd quarter worth approximately $275,000. Nordea Investment Management AB lifted its position in Alliant Energy by 1.2% during the 1st quarter. Nordea Investment Management AB now owns 138,463 shares of the utilities provider’s stock worth $6,526,000 after acquiring an additional 1,576 shares in the last quarter. Finally, AdvisorNet Financial Inc lifted its position in Alliant Energy by 5.1% during the 2nd quarter. AdvisorNet Financial Inc now owns 23,862 shares of the utilities provider’s stock worth $1,171,000 after acquiring an additional 1,164 shares in the last quarter. 71.12% of the stock is currently owned by hedge funds and other institutional investors.
In other news, SVP James H. Gallegos sold 5,000 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $52.29, for a total transaction of $261,450.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Leon David A. De bought 941 shares of Alliant Energy stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost of $53.15 per share, with a total value of $50,014.15. The disclosure for this purchase can be found here. Corporate insiders own 0.25% of the company’s stock.
Separately, UBS Group upped their target price on Alliant Energy from $49.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $50.36.
Shares of LNT traded up $0.18 during trading on Friday, reaching $51.68. The company’s stock had a trading volume of 1,522,195 shares, 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 company has a market cap of $12.32 billion, a price-to-earnings ratio of 26.78, a P/E/G ratio of 3.28 and a beta of 0.18. Alliant Energy Co. has a twelve month low of $40.68 and a twelve month high of $54.59. The company has a fifty day moving average of $53.16 and a two-hundred day moving average of $50.53.
Alliant Energy (NYSE:LNT) last posted its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.01. Alliant Energy had a return on equity of 11.69% and a net margin of 15.09%. The business had revenue of $990.20 million for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the company posted $0.85 EPS. The business’s revenue was up 6.6% compared to the same quarter last year. As a group, equities analysts forecast that Alliant Energy Co. will post 2.15 EPS for the current fiscal year.
The company also recently disclosed 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 of this dividend is Wednesday, October 30th. This represents a $1.42 annualized dividend and a dividend yield of 2.75%. Alliant Energy’s dividend payout ratio (DPR) is 73.58%.
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.
Featured Article: How do CD ladders protect against rising interest rates?
Receive News & Ratings for Alliant Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alliant Energy and related companies with MarketBeat.com's FREE daily email newsletter.