Perella Weinberg Partners Capital Management LP boosted its stake in Alliant Energy Co. (NYSE:LNT) by 88.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 38,124 shares of the utilities provider’s stock after purchasing an additional 17,870 shares during the period. Perella Weinberg Partners Capital Management LP’s holdings in Alliant Energy were worth $1,797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently modified their holdings of the company. First Allied Advisory Services Inc. grew its holdings in Alliant Energy by 37.1% during the first quarter. First Allied Advisory Services Inc. now owns 11,408 shares of the utilities provider’s stock worth $535,000 after acquiring an additional 3,086 shares during the period. California Public Employees Retirement System boosted its position in shares of Alliant Energy by 23.6% in the 1st quarter. California Public Employees Retirement System now owns 1,469,690 shares of the utilities provider’s stock valued at $69,266,000 after purchasing an additional 280,211 shares during the period. Crossmark Global Holdings Inc. boosted its position in shares of Alliant Energy by 7.2% in the 1st quarter. Crossmark Global Holdings Inc. now owns 19,231 shares of the utilities provider’s stock valued at $906,000 after purchasing an additional 1,290 shares during the period. Comerica Bank boosted its position in shares of Alliant Energy by 1.9% in the 1st quarter. Comerica Bank now owns 100,922 shares of the utilities provider’s stock valued at $4,672,000 after purchasing an additional 1,862 shares during the period. Finally, Buckingham Asset Management LLC acquired a new position in shares of Alliant Energy in the 1st quarter valued at $231,000. 71.12% of the stock is currently owned by hedge funds and other institutional investors.
LNT has been the subject of a number of recent analyst reports. Bank of America upgraded Alliant Energy from an “underperform” rating to a “neutral” rating and set a $44.00 price target for the company in a research report on Thursday, January 31st. Zacks Investment Research upgraded Alliant Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 25th. Wells Fargo & Co increased their price target on Alliant Energy from $49.00 to $52.00 and gave the company an “outperform” rating in a research report on Monday, February 25th. Wolfe Research upgraded Alliant Energy from an “underperform” rating to a “market perform” rating in a research report on Tuesday, January 22nd. Finally, Barclays assumed coverage on Alliant Energy in a research report on Friday, January 18th. They set an “equal weight” rating and a $45.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $46.94.
Alliant Energy (NYSE:LNT) last announced its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.53 EPS for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.02. Alliant Energy had a return on equity of 11.69% and a net margin of 15.09%. The firm had revenue of $987.20 million during the quarter, compared to analyst estimates of $903.85 million. During the same period last year, the company posted $0.52 EPS. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. Equities analysts expect that Alliant Energy Co. will post 2.15 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be given a dividend of $0.355 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.42 dividend on an annualized basis and a yield of 3.00%. Alliant Energy’s payout ratio is presently 73.58%.
In other news, SVP James H. Gallegos sold 5,000 shares of Alliant Energy stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $47.50, for a total transaction of $237,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Patricia L. Kampling sold 10,000 shares of Alliant Energy stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $46.98, for a total value of $469,800.00. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.
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Alliant Energy Company 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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