First Midwest Bank Trust Division boosted its position in shares of Alliant Energy Corp. (NYSE:LNT) by 279.3% during the second quarter, Holdings Channel reports. The institutional investor owned 24,012 shares of the company’s stock after buying an additional 17,681 shares during the period. First Midwest Bank Trust Division’s holdings in Alliant Energy Corp. were worth $954,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the stock. State Street Corp raised its stake in Alliant Energy Corp. by 4.2% in the first quarter. State Street Corp now owns 4,265,297 shares of the company’s stock worth $316,828,000 after buying an additional 173,519 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Alliant Energy Corp. by 1.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,421,495 shares of the company’s stock worth $254,149,000 after buying an additional 46,524 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Alliant Energy Corp. by 14.7% in the first quarter. Wellington Management Group LLP now owns 1,482,342 shares of the company’s stock worth $110,109,000 after buying an additional 189,647 shares during the last quarter. PGGM Investments increased its position in shares of Alliant Energy Corp. by 58.0% in the second quarter. PGGM Investments now owns 997,376 shares of the company’s stock worth $39,596,000 after buying an additional 365,989 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Alliant Energy Corp. during the fourth quarter worth approximately $53,759,000. Institutional investors and hedge funds own 65.60% of the company’s stock.
Alliant Energy Corp. (NYSE:LNT) traded down 1.42% during mid-day trading on Friday, reaching $38.31. 2,031,936 shares of the company’s stock traded hands. Alliant Energy Corp. has a 1-year low of $28.07 and a 1-year high of $40.99. The firm has a 50-day moving average price of $38.68 and a 200-day moving average price of $38.01. The stock has a market cap of $8.71 billion, a P/E ratio of 22.03 and a beta of 0.44.
Alliant Energy Corp. (NYSE:LNT) last issued its earnings results on Monday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by $0.01. The business earned $754.60 million during the quarter, compared to the consensus estimate of $593.06 million. Alliant Energy Corp. had a net margin of 12.50% and a return on equity of 11.02%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the business posted $0.31 EPS. Equities research analysts anticipate that Alliant Energy Corp. will post $1.89 EPS for the current fiscal year.
A number of research analysts recently commented on the stock. Zacks Investment Research raised shares of Alliant Energy Corp. from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research report on Monday, July 11th. Barclays PLC downgraded shares of Alliant Energy Corp. from an “overweight” rating to an “equal weight” rating and set a $39.00 price objective on the stock. in a research report on Friday, June 10th. They noted that the move was a valuation call. Finally, Argus boosted their price objective on shares of Alliant Energy Corp. from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, August 25th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $38.75.
In related news, SVP James H. Gallegos sold 5,000 shares of the stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $40.29, for a total value of $201,450.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.34% of the stock is currently owned by corporate insiders.
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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