Financial Architects Inc reduced its position in Alliant Energy Co. (NYSE:LNT) by 74.9% during the 1st quarter, HoldingsChannel reports. The firm owned 1,384 shares of the utilities provider’s stock after selling 4,127 shares during the quarter. Financial Architects Inc’s holdings in Alliant Energy were worth $65,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LNT. We Are One Seven LLC acquired a new position in Alliant Energy during the 4th quarter worth approximately $25,000. Sontag Advisory LLC acquired a new position in Alliant Energy during the 4th quarter worth approximately $30,000. Moody National Bank Trust Division acquired a new position in Alliant Energy during the 1st quarter worth approximately $45,000. Osborn Williams & Donohoe LLC acquired a new position in Alliant Energy during the 1st quarter worth approximately $53,000. Finally, Sound Income Strategies LLC lifted its position in Alliant Energy by 24,000.0% during the 4th quarter. Sound Income Strategies LLC now owns 1,205 shares of the utilities provider’s stock worth $51,000 after acquiring an additional 1,200 shares in the last quarter. 71.12% of the stock is currently owned by institutional investors and hedge funds.
In other news, Chairman Patricia L. Kampling sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $46.98, for a total value of $469,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP James H. Gallegos sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $47.50, for a total value of $237,500.00. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.
Alliant Energy (NYSE:LNT) last announced its earnings results on Thursday, May 2nd. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.02. Alliant Energy had a return on equity of 11.69% and a net margin of 15.09%. The company had revenue of $987.20 million for the quarter, compared to analyst estimates of $903.85 million. During the same period in the prior year, the company posted $0.52 EPS. Alliant Energy’s quarterly revenue was up 7.7% on a year-over-year basis. Sell-side analysts expect that Alliant Energy Co. will post 2.15 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be issued a $0.355 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 3.01%. Alliant Energy’s dividend payout ratio (DPR) is 73.58%.
Several equities analysts recently commented on LNT shares. Zacks Investment Research raised Alliant Energy from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Wednesday, April 17th. Barclays started coverage on Alliant Energy in a research report on Friday, January 18th. They set an “equal weight” rating and a $45.00 price target on the stock. Wolfe Research raised Alliant Energy from an “underperform” rating to a “market perform” rating in a research report on Tuesday, January 22nd. Bank of America raised Alliant Energy from an “underperform” rating to a “neutral” rating and set a $44.00 target price on the stock in a research report on Thursday, January 31st. Finally, Wells Fargo & Co upped their target price on Alliant Energy from $49.00 to $52.00 and gave the company an “outperform” rating in a research report on Monday, February 25th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $46.94.
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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.
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