Dean Capital Investments Management LLC boosted its stake in Alliant Energy Co. (NYSE:LNT) by 33.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,526 shares of the utilities provider’s stock after buying an additional 2,160 shares during the quarter. Dean Capital Investments Management LLC’s holdings in Alliant Energy were worth $460,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in the business. Man Group plc increased its stake in shares of Alliant Energy by 50.6% during the 2nd quarter. Man Group plc now owns 58,055 shares of the utilities provider’s stock worth $2,849,000 after purchasing an additional 19,514 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Alliant Energy by 28.8% during the 2nd quarter. First Trust Advisors LP now owns 1,405,069 shares of the utilities provider’s stock worth $68,961,000 after purchasing an additional 314,566 shares during the last quarter. Bailard Inc. acquired a new position in shares of Alliant Energy during the 2nd quarter worth $275,000. AdvisorNet Financial Inc increased its stake in shares of Alliant Energy by 5.1% during the 2nd quarter. AdvisorNet Financial Inc now owns 23,862 shares of the utilities provider’s stock worth $1,171,000 after purchasing an additional 1,164 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its stake in shares of Alliant Energy by 1.3% during the 2nd quarter. Asset Management One Co. Ltd. now owns 221,469 shares of the utilities provider’s stock worth $10,868,000 after purchasing an additional 2,778 shares during the last quarter. Institutional investors own 71.12% of the company’s stock.
NYSE:LNT traded up $0.92 during midday trading on Wednesday, reaching $52.60. The stock had a trading volume of 83,191 shares, compared to its average volume of 1,315,785. Alliant Energy Co. has a 1-year low of $40.68 and a 1-year high of $54.59. The firm’s fifty day simple moving average is $53.06 and its 200-day simple moving average is $50.62. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.73 and a quick ratio of 0.59. The stock has a market capitalization of $12.32 billion, a P/E ratio of 27.24, a PEG ratio of 3.28 and a beta of 0.18.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be paid a $0.355 dividend. The ex-dividend date is Wednesday, October 30th. This represents a $1.42 dividend on an annualized basis and a yield of 2.70%. Alliant Energy’s payout ratio is presently 73.58%.
In other Alliant Energy news, SVP James H. Gallegos sold 5,000 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $52.29, for a total value of $261,450.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Leon David A. De purchased 941 shares of Alliant Energy stock in a transaction on Tuesday, September 3rd. The stock was bought at an average cost of $53.15 per share, with a total value of $50,014.15. The disclosure for this purchase can be found here. Company insiders own 0.25% of the company’s stock.
Separately, UBS Group increased their price target on shares of Alliant Energy from $49.00 to $53.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $50.36.
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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