Gables Capital Management Inc. decreased its position in shares of Alliant Energy Co. (NYSE:LNT) by 29.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 710 shares of the utilities provider’s stock after selling 300 shares during the quarter. Gables Capital Management Inc.’s holdings in Alliant Energy were worth $34,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. GQ Asset Management LLC acquired a new stake in shares of Alliant Energy during the 1st quarter worth approximately $35,000. Allworth Financial LP lifted its position in shares of Alliant Energy by 50.7% during the 2nd quarter. Allworth Financial LP now owns 990 shares of the utilities provider’s stock valued at $47,000 after buying an additional 333 shares in the last quarter. Twin Tree Management LP lifted its position in shares of Alliant Energy by 180.2% during the 1st quarter. Twin Tree Management LP now owns 1,031 shares of the utilities provider’s stock valued at $50,000 after buying an additional 663 shares in the last quarter. Arden Trust Co purchased a new position in shares of Alliant Energy during the 1st quarter valued at approximately $55,000. Finally, Ballast Advisors LLC purchased a new position in shares of Alliant Energy during the 1st quarter valued at approximately $64,000. 71.12% of the stock is currently owned by institutional investors and hedge funds.
LNT stock traded up $0.08 during midday trading on Friday, reaching $53.85. The stock had a trading volume of 1,198,189 shares, compared to its average volume of 1,663,700. The company’s fifty day simple moving average is $49.63 and its 200 day simple moving average is $51.49. The company has a current ratio of 0.73, a quick ratio of 0.59 and a debt-to-equity ratio of 1.15. The company has a market cap of $13.44 billion, a price-to-earnings ratio of 27.90, a price-to-earnings-growth ratio of 3.28 and a beta of 0.18. Alliant Energy Co. has a 52-week low of $37.66 and a 52-week high of $60.28.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Friday, July 31st will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, July 30th. This represents a $1.52 annualized dividend and a dividend yield of 2.82%. Alliant Energy’s dividend payout ratio is presently 78.76%.
Separately, Wells Fargo & Co decreased their target price on Alliant Energy from $65.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $55.20.
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.
Featured Article: Yield Curve
Want to see what other hedge funds are holding LNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alliant Energy Co. (NYSE:LNT).
Receive News & Ratings for Alliant Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alliant Energy and related companies with MarketBeat.com's FREE daily email newsletter.