Duality Advisers LP purchased a new position in Alliant Energy Co. (NYSE:LNT) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 29,982 shares of the utilities provider’s stock, valued at approximately $1,434,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of LNT. M&T Bank Corp lifted its holdings in shares of Alliant Energy by 0.6% during the second quarter. M&T Bank Corp now owns 40,058 shares of the utilities provider’s stock valued at $1,916,000 after purchasing an additional 246 shares during the last quarter. Sciencast Management LP purchased a new stake in shares of Alliant Energy in the second quarter worth approximately $451,000. Pacer Advisors Inc. acquired a new stake in shares of Alliant Energy during the second quarter worth approximately $969,000. Raymond James & Associates grew its position in Alliant Energy by 2.5% during the second quarter. Raymond James & Associates now owns 43,682 shares of the utilities provider’s stock valued at $2,090,000 after purchasing an additional 1,066 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its stake in Alliant Energy by 10.0% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 69,550 shares of the utilities provider’s stock valued at $3,327,000 after buying an additional 6,309 shares during the period. 71.12% of the stock is currently owned by institutional investors.
Shares of LNT opened at $53.85 on Friday. 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 firm has a market cap of $13.44 billion, a PE ratio of 27.90, a PEG ratio of 3.28 and a beta of 0.18. Alliant Energy Co. has a twelve month low of $37.66 and a twelve month high of $60.28. The firm’s 50 day moving average price is $49.63 and its 200 day moving average price is $51.49.
Alliant Energy (NYSE:LNT) last posted its earnings results on Thursday, May 7th. The utilities provider reported $0.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.18. Alliant Energy had a net margin of 15.09% and a return on equity of 11.69%. The firm had revenue of $915.70 million for the quarter, compared to the consensus estimate of $979.61 million. During the same period in the prior year, the business posted $0.53 earnings per share. The business’s quarterly revenue was down 7.2% on a year-over-year basis. On average, sell-side analysts anticipate that Alliant Energy Co. will post 2.15 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Friday, July 31st will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend is Thursday, July 30th. Alliant Energy’s payout ratio is 78.76%.
Separately, Wells Fargo & Co lowered their price target on shares of Alliant Energy from $65.00 to $55.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $55.20.
About Alliant Energy
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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