Intech Investment Management LLC Lowers Position in Alliant Energy Corporation $LNT

by · The Markets Daily

Intech Investment Management LLC lessened its stake in Alliant Energy Corporation (NASDAQ:LNT – Free Report) by 24.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,954 shares of the company’s stock after selling 8,177 shares during the quarter. Intech Investment Management LLC’s holdings in Alliant Energy were worth $1,682,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Magellan Asset Management Ltd lifted its stake in Alliant Energy by 802.8% during the 3rd quarter. Magellan Asset Management Ltd now owns 1,553,695 shares of the company’s stock valued at $104,735,000 after acquiring an additional 1,381,593 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in Alliant Energy during the second quarter valued at $82,265,000. Reaves W H & Co. Inc. grew its stake in Alliant Energy by 54.3% in the 3rd quarter. Reaves W H & Co. Inc. now owns 1,779,087 shares of the company’s stock valued at $119,928,000 after buying an additional 626,410 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Alliant Energy by 98.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,084,562 shares of the company’s stock valued at $69,792,000 after acquiring an additional 538,603 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Alliant Energy by 1.5% during the second quarter. Vanguard Group Inc. now owns 33,303,702 shares of the company’s stock worth $2,013,875,000 after acquiring an additional 481,487 shares in the last quarter. Institutional investors own 79.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Mizuho set a $73.00 price objective on Alliant Energy in a research note on Monday, February 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Alliant Energy in a research note on Monday, December 29th. Jefferies Financial Group reaffirmed a “buy” rating and set a $78.00 price objective on shares of Alliant Energy in a report on Monday, November 24th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $75.00 target price on shares of Alliant Energy in a research note on Sunday, February 22nd. Finally, Barclays raised Alliant Energy from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $65.00 to $67.00 in a research note on Wednesday, January 21st. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $74.50.

Get Our Latest Analysis on Alliant Energy

Alliant Energy Trading Down 1.3%

NASDAQ:LNT opened at $71.34 on Friday. The firm has a market capitalization of $18.34 billion, a P/E ratio of 22.65, a PEG ratio of 2.96 and a beta of 0.66. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.80 and a quick ratio of 0.66. Alliant Energy Corporation has a one year low of $57.09 and a one year high of $72.65. The company’s 50-day simple moving average is $67.88 and its 200 day simple moving average is $66.93.

Alliant Energy (NASDAQ:LNT – Get Free Report) last released its earnings results on Friday, February 20th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $673.11 million. Alliant Energy had a net margin of 18.57% and a return on equity of 11.51%. The business’s revenue was up 9.0% on a year-over-year basis. During the same period last year, the business earned $0.70 earnings per share. As a group, analysts forecast that Alliant Energy Corporation will post 3.23 EPS for the current fiscal year.

Alliant Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Friday, January 30th were paid a $0.535 dividend. This is an increase from Alliant Energy’s previous quarterly dividend of $0.51. This represents a $2.14 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, January 30th. Alliant Energy’s payout ratio is currently 67.94%.

Alliant Energy Profile

(Free Report)

Alliant Energy Corporation (NASDAQ: LNT) is a publicly traded energy holding company headquartered in Madison, Wisconsin, that provides regulated electric and natural gas utility services in the American Midwest. The company serves customers primarily in Wisconsin and Iowa through its regulated utility subsidiaries and operates as an integrated provider responsible for generation, transmission and distribution of energy to residential, commercial and industrial customers.

Alliant Energy’s core activities include operating and maintaining electric generation assets, managing the regional transmission and distribution network, and delivering natural gas service to its franchise territories.

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