Magellan Asset Management Ltd raised its position in shares of Alliant Energy Co. (NYSE:LNT) by 16.5% in the first quarter, HoldingsChannel reports. The firm owned 193,939 shares of the utilities provider’s stock after acquiring an additional 27,511 shares during the period. Magellan Asset Management Ltd’s holdings in Alliant Energy were worth $9,140,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sontag Advisory LLC purchased a new position in shares of Alliant Energy in the 4th quarter valued at $30,000. Rockefeller Capital Management L.P. purchased a new position in shares of Alliant Energy in the 1st quarter valued at $39,000. Berman Capital Advisors LLC increased its holdings in shares of Alliant Energy by 268.5% in the 1st quarter. Berman Capital Advisors LLC now owns 877 shares of the utilities provider’s stock valued at $41,000 after acquiring an additional 639 shares during the period. Icon Wealth Partners LLC purchased a new position in shares of Alliant Energy in the 1st quarter valued at $44,000. Finally, Moody National Bank Trust Division purchased a new position in shares of Alliant Energy in the 1st quarter valued at $45,000. 71.12% of the stock is owned by institutional investors and hedge funds.
LNT stock traded up $0.69 on Wednesday, hitting $48.90. 16,817 shares of the company’s stock were exchanged, compared to its average volume of 1,410,934. Alliant Energy Co. has a 12-month low of $38.22 and a 12-month high of $49.94. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.73 and a quick ratio of 0.59. The company has a market cap of $11.63 billion, a price-to-earnings ratio of 25.35, a price-to-earnings-growth ratio of 3.28 and a beta of 0.18.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th were paid a dividend of $0.355 per share. The ex-dividend date was Monday, April 29th. This represents a $1.42 annualized dividend and a yield of 2.90%. Alliant Energy’s dividend payout ratio (DPR) is 73.58%.
A number of research analysts have recently issued reports on LNT shares. Wells Fargo & Co lifted their price target on Alliant Energy from $49.00 to $52.00 and gave the company an “outperform” rating in a report on Monday, February 25th. Zacks Investment Research downgraded Alliant Energy from a “buy” rating to a “hold” rating in a report on Tuesday, April 16th. Finally, Argus reiterated a “buy” rating and issued a $52.00 price target on shares of Alliant Energy in a report on Wednesday, June 5th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Alliant Energy presently has a consensus rating of “Hold” and an average price target of $47.31.
In other Alliant Energy news, SVP James H. Gallegos sold 5,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $47.50, for a total transaction of $237,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Patricia L. Kampling sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $46.98, for a total value of $469,800.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,000 shares of company stock worth $1,182,800. 0.25% of the stock is owned by company insiders.
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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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