US Bancorp DE boosted its holdings in Alliant Energy Co. (NYSE:LNT) by 12.5% during the third quarter, Holdings Channel reports. The fund owned 186,058 shares of the utilities provider’s stock after acquiring an additional 20,668 shares during the period. US Bancorp DE’s holdings in Alliant Energy were worth $7,921,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of LNT. IFM Investors Pty Ltd purchased a new stake in shares of Alliant Energy during the second quarter worth $244,000. State of Alaska Department of Revenue lifted its position in shares of Alliant Energy by 109.4% during the second quarter. State of Alaska Department of Revenue now owns 178,637 shares of the utilities provider’s stock worth $7,559,000 after acquiring an additional 93,330 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Alliant Energy during the second quarter worth $284,000. Bank of Montreal Can lifted its position in shares of Alliant Energy by 47.5% during the second quarter. Bank of Montreal Can now owns 170,570 shares of the utilities provider’s stock worth $7,219,000 after acquiring an additional 54,912 shares in the last quarter. Finally, Reliance Trust Co. of Delaware purchased a new stake in shares of Alliant Energy during the second quarter worth $202,000. 71.17% of the stock is currently owned by hedge funds and other institutional investors.
Shares of LNT stock opened at $44.61 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.48 and a debt-to-equity ratio of 1.15. Alliant Energy Co. has a 52-week low of $36.84 and a 52-week high of $45.55. The firm has a market capitalization of $10.25 billion, a P/E ratio of 23.11, a price-to-earnings-growth ratio of 3.78 and a beta of 0.16.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Wednesday, October 31st will be given a $0.335 dividend. The ex-dividend date is Tuesday, October 30th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.00%. Alliant Energy’s dividend payout ratio (DPR) is presently 69.43%.
In other Alliant Energy news, Director Deborah B. Dunie acquired 1,250 shares of the stock in a transaction that occurred on Thursday, September 13th. The shares were bought at an average price of $43.80 per share, for a total transaction of $54,750.00. Following the completion of the transaction, the director now owns 12,300 shares of the company’s stock, valued at approximately $538,740. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.25% of the company’s stock.
Several equities research analysts have issued reports on LNT shares. ValuEngine upgraded Alliant Energy from a “hold” rating to a “buy” rating in a research report on Thursday, October 11th. Zacks Investment Research upgraded Alliant Energy from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research report on Monday, July 23rd. Wells Fargo & Co increased their target price on Alliant Energy from $47.00 to $48.00 and gave the stock a “market perform” rating in a research report on Thursday. Mizuho initiated coverage on Alliant Energy in a research report on Monday, October 8th. They issued a “neutral” rating and a $44.00 price objective on the stock. Finally, UBS Group increased their price objective on Alliant Energy from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, August 10th. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. The company has an average rating of “Hold” and a consensus target price of $45.33.
Alliant Energy Profile
Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services in the Midwest region of the United States. It operates through three segments: Electric, Gas, and 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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