Jennison Associates LLC Acquires New Stake in Alliant Energy Co. (NASDAQ:LNT)

Jennison Associates LLC bought a new position in Alliant Energy Co. (NASDAQ:LNT) during the fourth quarter, Holdings Channel.com reports. The institutional investor bought 544,897 shares of the company’s stock, valued at approximately $32,225,000.

A number of other large investors have also recently modified their holdings of LNT. Millennium Management LLC boosted its holdings in shares of Alliant Energy by 2,141.3% in the 2nd quarter. Millennium Management LLC now owns 180,402 shares of the company’s stock worth $9,182,000 after purchasing an additional 172,353 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in Alliant Energy in the second quarter worth approximately $1,144,000. Czech National Bank grew its position in Alliant Energy by 7.0% during the third quarter. Czech National Bank now owns 52,251 shares of the company’s stock valued at $3,171,000 after acquiring an additional 3,396 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Alliant Energy by 22.9% during the third quarter. GAMMA Investing LLC now owns 14,739 shares of the company’s stock worth $895,000 after acquiring an additional 2,749 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Alliant Energy by 444.2% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,533 shares of the company’s stock worth $275,000 after acquiring an additional 3,700 shares during the last quarter. Institutional investors own 79.90% of the company’s stock.

Wall Street Analysts Forecast Growth

LNT has been the topic of a number of analyst reports. Barclays decreased their target price on shares of Alliant Energy from $61.00 to $59.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 6th. Wells Fargo & Company lowered their target price on Alliant Energy from $66.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. BMO Capital Markets reduced their price target on Alliant Energy from $65.00 to $61.00 and set a “market perform” rating on the stock in a research report on Monday, November 4th. Finally, Scotiabank downgraded Alliant Energy from a “sector outperform” rating to a “sector perform” rating and boosted their price objective for the company from $64.00 to $67.00 in a research report on Thursday, December 12th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $63.39.

Alliant Energy Price Performance

Shares of LNT stock opened at $59.24 on Wednesday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.72 and a current ratio of 0.86. The firm has a market cap of $15.20 billion, a P/E ratio of 22.96, a P/E/G ratio of 2.70 and a beta of 0.60. The business’s 50 day moving average price is $59.73 and its 200-day moving average price is $59.22. Alliant Energy Co. has a fifty-two week low of $46.80 and a fifty-two week high of $64.19.

Alliant Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 31st will be paid a $0.5075 dividend. This is an increase from Alliant Energy’s previous quarterly dividend of $0.48. This represents a $2.03 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date is Friday, January 31st. Alliant Energy’s dividend payout ratio is presently 78.68%.

Alliant Energy Company 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.