Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in shares of Alliant Energy Co. (NASDAQ:LNT) by 33.2% during the second quarter, Holdings Channel.com reports. The fund owned 11,255 shares of the company’s stock after acquiring an additional 2,803 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Alliant Energy were worth $628,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LNT. BlackRock Inc. raised its stake in Alliant Energy by 21.6% during the 2nd quarter. BlackRock Inc. now owns 25,753,609 shares of the company’s stock worth $1,436,021,000 after acquiring an additional 4,575,097 shares during the period. Nuveen Asset Management LLC raised its stake in Alliant Energy by 65.9% during the 1st quarter. Nuveen Asset Management LLC now owns 5,861,230 shares of the company’s stock worth $317,443,000 after acquiring an additional 2,328,791 shares during the period. Thrivent Financial for Lutherans grew its holdings in Alliant Energy by 116.6% during the 1st quarter. Thrivent Financial for Lutherans now owns 2,493,416 shares of the company’s stock valued at $135,044,000 after buying an additional 1,342,351 shares in the last quarter. ClearBridge Investments Ltd purchased a new stake in Alliant Energy during the 1st quarter valued at approximately $64,431,000. Finally, Royal Bank of Canada grew its holdings in Alliant Energy by 213.9% during the 1st quarter. Royal Bank of Canada now owns 1,061,532 shares of the company’s stock valued at $57,492,000 after buying an additional 723,390 shares in the last quarter. Institutional investors own 75.93% of the company’s stock.
LNT stock opened at $57.11 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.42 and a current ratio of 0.55. The firm has a fifty day moving average price of $59.85 and a 200 day moving average price of $57.28. The firm has a market cap of $14.29 billion, a PE ratio of 22.94, a price-to-earnings-growth ratio of 3.92 and a beta of 0.35. Alliant Energy Co. has a fifty-two week low of $45.99 and a fifty-two week high of $62.35.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 16th. Shareholders of record on Friday, July 30th were paid a dividend of $0.4025 per share. This represents a $1.61 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend was Thursday, July 29th. Alliant Energy’s payout ratio is 66.26%.
A number of equities research analysts have issued reports on the stock. Guggenheim lowered shares of Alliant Energy from a “buy” rating to a “neutral” rating in a report on Tuesday, September 7th. Wells Fargo & Company lowered shares of Alliant Energy from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $61.56 to $66.00 in a report on Tuesday, August 17th. Scotiabank lowered shares of Alliant Energy from a “sector outperform” rating to a “sector perform” rating in a report on Tuesday, July 6th. They noted that the move was a valuation call. Argus increased their price objective on shares of Alliant Energy from $56.00 to $64.00 and gave the company a “buy” rating in a report on Friday, June 11th. Finally, Bank of America lowered shares of Alliant Energy from a “buy” rating to a “neutral” rating and cut their price objective for the company from $60.89 to $58.00 in a report on Thursday, July 8th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $60.00.
Alliant Energy Profile
Alliant Energy Corp. is a regulated investor-owned public utility holding company that engages in the provision of regulated electricity and natural gas service to natural gas customers in the Midwest through its two public utility subsidiaries. It operates its business through following segments: utility electric operations, utility gas operations; and utility other.
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