Amundi Buys 29,725 Shares of Alliant Energy Co. (NASDAQ:LNT)

by · The Markets Daily

Amundi grew its stake in Alliant Energy Co. (NASDAQ:LNT – Free Report) by 16.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 214,859 shares of the company’s stock after acquiring an additional 29,725 shares during the period. Amundi owned 0.08% of Alliant Energy worth $12,505,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Alliant Energy by 2.6% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 588,744 shares of the company’s stock worth $35,731,000 after buying an additional 14,740 shares during the period. OneDigital Investment Advisors LLC increased its stake in Alliant Energy by 9.0% in the third quarter. OneDigital Investment Advisors LLC now owns 7,631 shares of the company’s stock valued at $463,000 after purchasing an additional 631 shares in the last quarter. CIBC Asset Management Inc increased its stake in Alliant Energy by 6.9% in the third quarter. CIBC Asset Management Inc now owns 44,563 shares of the company’s stock valued at $2,694,000 after purchasing an additional 2,894 shares in the last quarter. First Business Financial Services Inc. bought a new stake in Alliant Energy in the third quarter valued at approximately $219,000. Finally, Empirical Finance LLC increased its stake in Alliant Energy by 2.2% in the third quarter. Empirical Finance LLC now owns 8,637 shares of the company’s stock valued at $524,000 after purchasing an additional 189 shares in the last quarter. 79.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

LNT has been the subject of several recent analyst reports. BMO Capital Markets upped their target price on shares of Alliant Energy from $60.00 to $66.00 and gave the company a “market perform” rating in a research note on Monday, February 24th. Scotiabank downgraded shares of Alliant Energy from a “sector outperform” rating to a “sector perform” rating and upped their target price for the company from $64.00 to $67.00 in a research note on Thursday, December 12th. Finally, Guggenheim reiterated a “neutral” rating and issued a $57.00 price target on shares of Alliant Energy in a report on Monday, February 24th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $63.25.

Get Our Latest Analysis on Alliant Energy

Alliant Energy Stock Performance

Shares of LNT opened at $62.95 on Friday. Alliant Energy Co. has a 12 month low of $47.23 and a 12 month high of $66.54. The firm has a fifty day simple moving average of $60.73 and a 200 day simple moving average of $60.33. The stock has a market capitalization of $16.16 billion, a price-to-earnings ratio of 23.40, a PEG ratio of 2.83 and a beta of 0.54. The company has a current ratio of 0.86, a quick ratio of 0.72 and a debt-to-equity ratio of 1.33.

Alliant Energy (NASDAQ:LNT – Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.68 by $0.02. Alliant Energy had a net margin of 17.33% and a return on equity of 11.39%. The business had revenue of $976.00 million during the quarter, compared to analysts’ expectations of $1.14 billion. Research analysts forecast that Alliant Energy Co. will post 3.23 EPS for the current fiscal year.

Alliant Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 31st were issued a dividend of $0.5075 per share. This is a boost from Alliant Energy’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.03 annualized dividend and a yield of 3.22%. Alliant Energy’s dividend payout ratio is presently 75.46%.

Alliant Energy Profile

(Free Report)

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.

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