Chatham Capital Group Inc. raised its stake in shares of Alliant Energy Corp. (NYSE:LNT) by 100.0% during the second quarter, Holdings Channel reports. The fund owned 20,340 shares of the company’s stock after buying an additional 10,170 shares during the period. Chatham Capital Group Inc.’s holdings in Alliant Energy Corp. were worth $807,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. BlackRock Inc. raised its position in Alliant Energy Corp. by 14.2% in the first quarter. BlackRock Inc. now owns 171,447 shares of the company’s stock valued at $12,735,000 after buying an additional 21,293 shares during the period. TIAA CREF Trust Co. FSB MO purchased a new position in Alliant Energy Corp. during the second quarter valued at $740,000. Retirement Systems of Alabama raised its position in Alliant Energy Corp. by 48.1% in the second quarter. Retirement Systems of Alabama now owns 503,300 shares of the company’s stock valued at $19,981,000 after buying an additional 163,556 shares during the period. Nordea Investment Management AB raised its position in Alliant Energy Corp. by 94.7% in the second quarter. Nordea Investment Management AB now owns 103,596 shares of the company’s stock valued at $4,113,000 after buying an additional 50,398 shares during the period. Finally, Geode Capital Management LLC raised its position in Alliant Energy Corp. by 5.0% in the first quarter. Geode Capital Management LLC now owns 691,923 shares of the company’s stock valued at $51,367,000 after buying an additional 33,110 shares during the period. Institutional investors and hedge funds own 65.59% of the company’s stock.
Shares of Alliant Energy Corp. (NYSE:LNT) traded up 0.65% during midday trading on Monday, reaching $37.21. 861,744 shares of the company traded hands. Alliant Energy Corp. has a 1-year low of $28.07 and a 1-year high of $40.99. The stock has a market capitalization of $8.46 billion, a P/E ratio of 21.40 and a beta of 0.41. The stock’s 50-day moving average is $38.11 and its 200-day moving average is $38.05.
Alliant Energy Corp. (NYSE:LNT) last posted its quarterly earnings data 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 earned $754.60 million during the quarter, compared to analyst estimates of $593.06 million. Alliant Energy Corp. had a net margin of 12.50% and a return on equity of 11.02%. Alliant Energy Corp.’s revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.31 earnings per share. Equities analysts predict that Alliant Energy Corp. will post $1.89 EPS for the current fiscal year.
The business 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. This represents a $1.18 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Thursday, October 27th. Alliant Energy Corp.’s dividend payout ratio is presently 67.24%.
Several equities analysts have recently weighed in on LNT shares. Argus lifted their target price on shares of Alliant Energy Corp. from $40.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, August 25th. Zacks Investment Research raised shares of Alliant Energy Corp. from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a report on Monday, July 11th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Alliant Energy Corp. presently has a consensus rating of “Buy” and a consensus price target 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).
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