1832 Asset Management L.P. Sells 1,384 Shares of Alliant Energy Co. (NASDAQ:LNT)

1832 Asset Management L.P. decreased its stake in Alliant Energy Co. (NASDAQ:LNT) by 4.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,579 shares of the company’s stock after selling 1,384 shares during the quarter. 1832 Asset Management L.P.’s holdings in Alliant Energy were worth $1,642,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LNT. Massachusetts Financial Services Co. MA raised its position in shares of Alliant Energy by 68.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,802,777 shares of the company’s stock worth $246,382,000 after purchasing an additional 1,948,485 shares during the period. Goldman Sachs Group Inc. lifted its stake in Alliant Energy by 103.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,286,941 shares of the company’s stock valued at $66,020,000 after buying an additional 654,460 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Alliant Energy by 14,057.8% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 577,072 shares of the company’s stock valued at $29,084,000 after buying an additional 572,996 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Alliant Energy by 5.8% during the fourth quarter. Victory Capital Management Inc. now owns 9,194,528 shares of the company’s stock worth $471,679,000 after acquiring an additional 505,101 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in Alliant Energy by 224.2% during the 4th quarter. BNP Paribas Financial Markets now owns 468,855 shares of the company’s stock worth $24,052,000 after purchasing an additional 324,252 shares in the last quarter. Institutional investors own 79.90% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on LNT. Scotiabank cut their target price on Alliant Energy from $57.00 to $53.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 22nd. Barclays raised their target price on shares of Alliant Energy from $52.00 to $55.00 and gave the company an “equal weight” rating in a research report on Thursday, July 11th. BMO Capital Markets boosted their price target on shares of Alliant Energy from $51.00 to $53.00 and gave the stock a “market perform” rating in a research report on Monday, April 15th. Wells Fargo & Company raised their price objective on Alliant Energy from $55.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, May 6th. Finally, LADENBURG THALM/SH SH reduced their price target on Alliant Energy from $48.50 to $48.00 and set a “neutral” rating for the company in a research report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $51.63.

Alliant Energy Stock Performance

Shares of NASDAQ LNT traded up $0.17 during midday trading on Friday, hitting $56.01. 1,263,404 shares of the company’s stock were exchanged, compared to its average volume of 1,383,877. Alliant Energy Co. has a 12 month low of $45.15 and a 12 month high of $56.79. The company’s 50 day moving average price is $51.67 and its 200 day moving average price is $50.09. 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 firm has a market capitalization of $14.36 billion, a PE ratio of 20.37, a price-to-earnings-growth ratio of 2.66 and a beta of 0.56.

Alliant Energy (NASDAQ:LNT) last released its quarterly earnings data on Friday, May 3rd. The company reported $0.62 EPS for the quarter, meeting the consensus estimate of $0.62. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.01 billion. Alliant Energy had a net margin of 17.53% and a return on equity of 10.57%. The company’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.65 earnings per share. As a group, analysts predict that Alliant Energy Co. will post 3.08 earnings per share for the current fiscal year.

Alliant Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.43%. Alliant Energy’s dividend payout ratio (DPR) is currently 69.82%.

About Alliant Energy

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.