1ST Source Bank purchased a new position in Alliant Energy Corp. (NYSE:LNT) during the second quarter, Holdings Channel reports. The firm purchased 5,050 shares of the company’s stock, valued at approximately $200,000.
Several other hedge funds and other institutional investors have also modified their holdings of LNT. Arizona State Retirement System raised its position in shares of Alliant Energy Corp. by 0.3% in the first quarter. Arizona State Retirement System now owns 66,000 shares of the company’s stock worth $4,902,000 after buying an additional 200 shares during the period. Aviva PLC raised its position in shares of Alliant Energy Corp. by 0.5% in the first quarter. Aviva PLC now owns 57,932 shares of the company’s stock worth $4,303,000 after buying an additional 283 shares during the period. AMP Capital Investors Ltd raised its position in shares of Alliant Energy Corp. by 0.5% in the first quarter. AMP Capital Investors Ltd now owns 84,452 shares of the company’s stock worth $6,239,000 after buying an additional 400 shares during the period. Smithfield Trust Co. raised its position in shares of Alliant Energy Corp. by 100.0% in the second quarter. Smithfield Trust Co. now owns 2,900 shares of the company’s stock worth $115,000 after buying an additional 1,450 shares during the period. Finally, M&T Bank Corp raised its position in shares of Alliant Energy Corp. by 9.2% in the first quarter. M&T Bank Corp now owns 22,549 shares of the company’s stock worth $1,676,000 after buying an additional 1,906 shares during the period. Institutional investors own 65.59% of the company’s stock.
Shares of Alliant Energy Corp. (NYSE:LNT) traded down 0.21% during mid-day trading on Wednesday, hitting $37.30. The stock had a trading volume of 520,993 shares. The stock has a 50 day moving average price of $38.06 and a 200 day moving average price of $38.07. Alliant Energy Corp. has a 52 week low of $28.07 and a 52 week high of $40.99. The firm has a market cap of $8.48 billion, a PE ratio of 21.45 and a beta of 0.41.
Alliant Energy Corp. (NYSE:LNT) last released its quarterly earnings results on Monday, August 1st. The company reported $0.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The firm had revenue of $754.60 million for the quarter, compared to analyst estimates of $593.06 million. Alliant Energy Corp. had a return on equity of 11.02% and a net margin of 12.50%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.31 earnings per share. Equities research analysts expect that Alliant Energy Corp. will post $1.89 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Monday, October 31st will be issued a dividend of $0.2938 per share. The ex-dividend date is Thursday, October 27th. This represents a $1.18 annualized dividend and a yield of 3.14%. Alliant Energy Corp.’s payout ratio is currently 67.24%.
A number of research analysts recently commented on LNT shares. Zacks Investment Research upgraded Alliant Energy Corp. from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Monday, July 11th. Argus upped their target price on Alliant Energy Corp. from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, August 25th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Alliant Energy Corp. currently has a consensus rating of “Buy” and a consensus target price of $38.75.
About Alliant Energy Corp.
Alliant Energy Corporation (Alliant Energy) is a regulated investor-owned public utility holding company. The Company provides regulated electric and natural gas services in Iowa and Wisconsin. The Company’s business segments are Utility and Non-regulated, Parent and Other. The Utility segment includes the operations of Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL).
Want to see what other hedge funds are holding LNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alliant Energy Corp. (NYSE:LNT).
Receive News & Ratings for Alliant Energy Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alliant Energy Corp. and related companies with MarketBeat.com's FREE daily email newsletter.