Alliant Energy Co. (NASDAQ:LNT) Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Alliant Energy Co. (NASDAQ:LNT) by 13.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 262,048 shares of the company’s stock after buying an additional 31,731 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Alliant Energy were worth $13,564,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Wetzel Investment Advisors Inc. purchased a new stake in shares of Alliant Energy in the 4th quarter valued at approximately $26,000. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Alliant Energy during the fourth quarter valued at $38,000. Authentikos Wealth Advisory LLC acquired a new position in Alliant Energy during the third quarter valued at $42,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Alliant Energy in the 4th quarter worth about $43,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in Alliant Energy during the third quarter valued at approximately $45,000. 79.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LNT has been the topic of several research analyst reports. Bank of America lowered their price target on shares of Alliant Energy from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Thursday, April 11th. LADENBURG THALM/SH SH dropped their target price on Alliant Energy from $48.50 to $48.00 and set a “neutral” rating on the stock in a research report on Monday, April 29th. Scotiabank cut their price target on Alliant Energy from $57.00 to $53.00 and set a “sector outperform” rating for the company in a research note on Monday, April 22nd. Wells Fargo & Company boosted their price target on Alliant Energy from $55.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, May 6th. Finally, BMO Capital Markets raised their price objective on shares of Alliant Energy from $51.00 to $53.00 and gave the company a “market perform” rating in a research report on Monday, April 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $51.38.

Insider Activity at Alliant Energy

In related news, CEO Lisa M. Barton bought 1,100 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were acquired at an average price of $48.56 per share, with a total value of $53,416.00. Following the completion of the transaction, the chief executive officer now owns 36,444 shares of the company’s stock, valued at approximately $1,769,720.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.31% of the stock is owned by corporate insiders.

Alliant Energy Stock Performance

Shares of LNT stock opened at $51.97 on Friday. Alliant Energy Co. has a 12 month low of $45.15 and a 12 month high of $56.26. The company has a market cap of $13.32 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 2.77 and a beta of 0.54. The company has a quick ratio of 0.40, a current ratio of 0.56 and a debt-to-equity ratio of 1.25. The business’s 50 day moving average is $49.71 and its two-hundred day moving average is $49.72.

Alliant Energy (NASDAQ:LNT) last posted its earnings results on Friday, May 3rd. The company reported $0.62 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.62. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.01 billion. Alliant Energy had a net margin of 17.53% and a return on equity of 10.57%. Alliant Energy’s revenue was down 4.3% compared to the same quarter last year. During the same period last year, the business posted $0.65 EPS. Equities analysts predict that Alliant Energy Co. will post 3.08 EPS for the current year.

Alliant Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th were given a dividend of $0.48 per share. The ex-dividend date was Monday, April 29th. This represents a $1.92 annualized dividend and a dividend yield of 3.69%. Alliant Energy’s dividend payout ratio is presently 69.82%.

Alliant Energy Profile

Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services in the United States. It operates in three segments: Utility Electric Operations, Utility Gas Operations, and Utility 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.