First Merchants Corp raised its position in Alliant Energy Corp. (NYSE:LNT) by 114.2% during the second quarter, Holdings Channel reports. The firm owned 97,078 shares of the company’s stock after buying an additional 51,753 shares during the period. Alliant Energy Corp. makes up approximately 1.3% of First Merchants Corp’s holdings, making the stock its 17th largest position. First Merchants Corp’s holdings in Alliant Energy Corp. were worth $3,854,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the company. Community Bank N.A. increased its stake in Alliant Energy Corp. by 100.0% in the second quarter. Community Bank N.A. now owns 4,230 shares of the company’s stock worth $168,000 after buying an additional 2,115 shares during the period. JNBA Financial Advisors acquired a new stake in Alliant Energy Corp. during the second quarter worth about $187,000. Duncker Streett & Co. Inc. increased its stake in Alliant Energy Corp. by 100.0% in the second quarter. Duncker Streett & Co. Inc. now owns 4,800 shares of the company’s stock worth $191,000 after buying an additional 2,400 shares during the period. North Star Investment Management Corp. increased its stake in Alliant Energy Corp. by 100.0% in the second quarter. North Star Investment Management Corp. now owns 4,987 shares of the company’s stock worth $198,000 after buying an additional 2,494 shares during the period. Finally, AXA acquired a new stake in Alliant Energy Corp. during the first quarter worth about $208,000. 65.61% of the stock is owned by hedge funds and other institutional investors.
Alliant Energy Corp. (NYSE:LNT) traded up 0.21% during trading on Tuesday, hitting $38.85. The stock had a trading volume of 878,257 shares. The firm has a market cap of $8.83 billion, a PE ratio of 22.34 and a beta of 0.44. The company’s 50-day moving average is $38.71 and its 200 day moving average is $37.81. Alliant Energy Corp. has a 52 week low of $28.07 and a 52 week high of $40.99.
Alliant Energy Corp. (NYSE:LNT) last announced its quarterly earnings data on Monday, August 1st. The company reported $0.37 EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.01. Alliant Energy Corp. had a return on equity of 11.02% and a net margin of 12.50%. The business had revenue of $754.60 million for the quarter, compared to analyst estimates of $593.06 million. During the same quarter in the previous year, the business posted $0.31 earnings per share. The company’s revenue was up 5.2% compared to the same quarter last year. Equities analysts expect that Alliant Energy Corp. will post $1.89 EPS for the current fiscal year.
A number of analysts recently issued reports on the stock. Argus reissued a “buy” rating on shares of Alliant Energy Corp. in a research report on Saturday, June 4th. Zacks Investment Research raised shares of Alliant Energy Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, May 24th. Finally, Barclays PLC downgraded shares of Alliant Energy Corp. from an “overweight” rating to an “equal weight” rating and set a $39.00 price objective for the company. in a research report on Friday, June 10th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $38.75.
In other Alliant Energy Corp. news, SVP James H. Gallegos sold 5,000 shares of the firm’s stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $40.29, for a total transaction of $201,450.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.34% of the company’s stock.
Alliant Energy Corp. Company Profile
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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