Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of Alliant Energy Co. (NYSE:LNT) by 17.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,384 shares of the utilities provider’s stock after buying an additional 8,165 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Alliant Energy were worth $2,980,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in LNT. Accurate Investment Solutions Inc. boosted its position in Alliant Energy by 134.3% in the fourth quarter. Accurate Investment Solutions Inc. now owns 588 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 337 shares during the last quarter. Parallel Advisors LLC boosted its position in Alliant Energy by 55.3% in the third quarter. Parallel Advisors LLC now owns 736 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 262 shares during the last quarter. TCI Wealth Advisors Inc. boosted its position in Alliant Energy by 105.3% in the third quarter. TCI Wealth Advisors Inc. now owns 741 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 380 shares during the last quarter. Vigilant Capital Management LLC purchased a new position in Alliant Energy in the fourth quarter worth about $44,000. Finally, Meeder Asset Management Inc. boosted its position in Alliant Energy by 72.7% in the third quarter. Meeder Asset Management Inc. now owns 1,345 shares of the utilities provider’s stock worth $73,000 after purchasing an additional 566 shares during the last quarter. 71.12% of the stock is currently owned by institutional investors.
Shares of NYSE:LNT opened at $59.74 on Friday. The stock has a market capitalization of $14.36 billion, a price-to-earnings ratio of 30.95, a PEG ratio of 3.28 and a beta of 0.18. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.59 and a current ratio of 0.73. The stock’s 50-day simple moving average is $56.92 and its two-hundred day simple moving average is $53.69. Alliant Energy Co. has a 52-week low of $44.68 and a 52-week high of $59.78.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st will be given a dividend of $0.38 per share. This is a boost from Alliant Energy’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend is Thursday, January 30th. Alliant Energy’s payout ratio is presently 78.76%.
LNT has been the topic of several research reports. Scotiabank raised Alliant Energy from a “sector perform” rating to a “sector outperform” rating and set a $60.00 target price on the stock in a research report on Friday, December 20th. Barclays raised Alliant Energy from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $54.00 to $58.00 in a research report on Thursday, November 21st. Finally, UBS Group raised their target price on Alliant Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Alliant Energy currently has a consensus rating of “Buy” and an average target price of $55.00.
Alliant Energy Company 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.
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