Metropolitan Life Insurance Co NY boosted its stake in Alliant Energy Co. (NYSE:LNT) by 0.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 35,593 shares of the utilities provider’s stock after buying an additional 296 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Alliant Energy were worth $1,920,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in LNT. Private Capital Group LLC grew its position in shares of Alliant Energy by 367.7% in the second quarter. Private Capital Group LLC now owns 580 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 456 shares during the last quarter. NumerixS Investment Technologies Inc bought a new position in Alliant Energy during the 2nd quarter worth $29,000. Personal Wealth Partners acquired a new stake in shares of Alliant Energy during the second quarter worth $31,000. Advisory Services Network LLC lifted its holdings in shares of Alliant Energy by 354.1% during the second quarter. Advisory Services Network LLC now owns 722 shares of the utilities provider’s stock worth $35,000 after buying an additional 563 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its position in shares of Alliant Energy by 583.3% in the second quarter. Meeder Asset Management Inc. now owns 779 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 665 shares during the period. 71.12% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently commented on the stock. UBS Group upped their price target on shares of Alliant Energy from $49.00 to $53.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Barclays raised shares of Alliant Energy from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $54.00 to $58.00 in a report on Thursday, November 21st. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $53.50.
Alliant Energy (NYSE:LNT) last released its earnings results on Wednesday, November 6th. The utilities provider reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.01. The firm had revenue of $990.20 million during the quarter, compared to the consensus estimate of $1.02 billion. Alliant Energy had a return on equity of 11.69% and a net margin of 15.09%. The company’s revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.85 EPS. Sell-side analysts expect that Alliant Energy Co. will post 2.15 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were given a dividend of $0.355 per share. The ex-dividend date of this dividend was Wednesday, October 30th. This represents a $1.42 annualized dividend and a yield of 2.69%. Alliant Energy’s dividend payout ratio is 73.58%.
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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