Rhumbline Advisers raised its position in shares of Alliant Energy Co. (NYSE:LNT) by 1.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 473,822 shares of the utilities provider’s stock after buying an additional 7,769 shares during the quarter. Rhumbline Advisers’ holdings in Alliant Energy were worth $20,171,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Commonwealth Bank of Australia increased its holdings in shares of Alliant Energy by 11.4% during the second quarter. Commonwealth Bank of Australia now owns 3,498,963 shares of the utilities provider’s stock valued at $147,412,000 after acquiring an additional 359,030 shares in the last quarter. Epoch Investment Partners Inc. acquired a new position in shares of Alliant Energy during the second quarter valued at about $14,640,000. Covalis Capital LLP increased its holdings in shares of Alliant Energy by 2,088.3% during the second quarter. Covalis Capital LLP now owns 302,599 shares of the utilities provider’s stock valued at $12,806,000 after acquiring an additional 288,771 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Alliant Energy by 59.4% during the third quarter. Russell Investments Group Ltd. now owns 747,001 shares of the utilities provider’s stock valued at $31,705,000 after acquiring an additional 278,434 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Alliant Energy by 5.0% during the second quarter. Victory Capital Management Inc. now owns 4,253,294 shares of the utilities provider’s stock valued at $179,999,000 after acquiring an additional 202,641 shares in the last quarter. 71.63% of the stock is owned by institutional investors and hedge funds.
In other Alliant Energy news, Director Deborah B. Dunie purchased 1,250 shares of the business’s 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 acquisition, the director now owns 12,300 shares in the company, valued at $538,740. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.25% of the stock is currently owned by corporate insiders.
Alliant Energy (NYSE:LNT) last issued its quarterly earnings results on Tuesday, November 6th. The utilities provider reported $0.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.01. Alliant Energy had a net margin of 15.09% and a return on equity of 11.69%. The company had revenue of $928.60 million for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the company earned $0.75 EPS. Alliant Energy’s quarterly revenue was up 2.4% on a year-over-year basis. On average, analysts anticipate that Alliant Energy Co. will post 2.15 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Wednesday, October 31st were issued a $0.335 dividend. The ex-dividend date of this dividend was Tuesday, October 30th. This represents a $1.34 annualized dividend and a yield of 3.05%. Alliant Energy’s dividend payout ratio (DPR) is presently 69.43%.
Several research firms have recently issued reports on LNT. Bank of America downgraded shares of Alliant Energy from a “neutral” rating to an “underperform” rating in a report on Wednesday. ValuEngine upgraded shares of Alliant Energy from a “hold” rating to a “buy” rating in a report on Wednesday. Mizuho began coverage on shares of Alliant Energy in a report on Monday, October 8th. They set a “neutral” rating and a $44.00 price objective on the stock. Wells Fargo & Co upped their price objective on shares of Alliant Energy from $45.00 to $47.00 and gave the company a “market perform” rating in a report on Monday, September 17th. Finally, UBS Group upped their price objective on shares of Alliant Energy from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, August 10th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $45.33.
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About Alliant Energy
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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