Principal Financial Group Inc. Cuts Position in Alliant Energy Co. (NASDAQ:LNT)

Principal Financial Group Inc. reduced its holdings in shares of Alliant Energy Co. (NASDAQ:LNT) by 0.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 570,195 shares of the company’s stock after selling 1,790 shares during the quarter. Principal Financial Group Inc. owned approximately 0.23% of Alliant Energy worth $31,920,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Alliant Energy by 0.5% during the second quarter. Vanguard Group Inc. now owns 30,077,240 shares of the company’s stock worth $1,677,107,000 after buying an additional 147,706 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Alliant Energy by 21.6% during the second quarter. BlackRock Inc. now owns 25,753,609 shares of the company’s stock worth $1,436,021,000 after buying an additional 4,575,097 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Alliant Energy by 2.3% during the second quarter. Geode Capital Management LLC now owns 4,665,855 shares of the company’s stock worth $259,490,000 after buying an additional 104,364 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Alliant Energy by 1.5% during the second quarter. Invesco Ltd. now owns 3,471,809 shares of the company’s stock worth $193,589,000 after buying an additional 50,906 shares in the last quarter. Finally, Magellan Asset Management Ltd grew its holdings in shares of Alliant Energy by 11.2% during the second quarter. Magellan Asset Management Ltd now owns 2,902,574 shares of the company’s stock worth $161,848,000 after buying an additional 291,582 shares in the last quarter. Hedge funds and other institutional investors own 75.02% of the company’s stock.

LNT opened at $60.07 on Friday. The firm has a market capitalization of $15.03 billion, a P/E ratio of 23.74, a P/E/G ratio of 3.61 and a beta of 0.43. The firm’s 50 day moving average is $58.53 and its 200-day moving average is $58.34. Alliant Energy Co. has a 52-week low of $45.99 and a 52-week high of $62.35. The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 1.12.

Alliant Energy (NASDAQ:LNT) last posted its quarterly earnings data on Thursday, November 4th. The company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.06. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $895.37 million. Alliant Energy had a net margin of 18.12% and a return on equity of 11.01%. The business’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 earnings per share. Equities analysts expect that Alliant Energy Co. will post 2.64 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, November 15th. Investors of record on Monday, November 1st were paid a $0.4025 dividend. The ex-dividend date was Friday, October 29th. This represents a $1.61 dividend on an annualized basis and a dividend yield of 2.68%. Alliant Energy’s dividend payout ratio (DPR) is presently 63.64%.

Separately, Zacks Investment Research cut shares of Alliant Energy from a “buy” rating to a “hold” rating and set a $63.00 target price on the stock. in a research report on Tuesday, December 14th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $61.29.

About Alliant Energy

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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Institutional Ownership by Quarter for Alliant Energy (NASDAQ:LNT)

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