World Asset Management Inc raised its stake in shares of Alliant Energy Co. (NYSE:LNT) by 1.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,295 shares of the utilities provider’s stock after buying an additional 250 shares during the quarter. World Asset Management Inc’s holdings in Alliant Energy were worth $751,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in LNT. Berman Capital Advisors LLC grew its holdings in Alliant Energy by 268.5% during the 1st quarter. Berman Capital Advisors LLC now owns 877 shares of the utilities provider’s stock valued at $41,000 after buying an additional 639 shares during the last quarter. Icon Wealth Partners LLC acquired a new stake in Alliant Energy during the 1st quarter valued at $44,000. Moody National Bank Trust Division acquired a new stake in Alliant Energy during the 1st quarter valued at $45,000. Pittenger & Anderson Inc. acquired a new stake in Alliant Energy during the 1st quarter valued at $47,000. Finally, Osborn Williams & Donohoe LLC acquired a new stake in Alliant Energy during the 1st quarter valued at $53,000. Hedge funds and other institutional investors own 71.12% of the company’s stock.
Shares of LNT stock traded up $0.15 during mid-day trading on Friday, hitting $50.13. 1,328,004 shares of the company’s stock were exchanged, compared to its average volume of 1,327,894. Alliant Energy Co. has a fifty-two week low of $40.68 and a fifty-two week high of $50.95. The company has a 50-day simple moving average of $49.78. 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 stock has a market capitalization of $11.90 billion, a PE ratio of 25.97, a price-to-earnings-growth ratio of 3.28 and a beta of 0.18.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be issued a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Tuesday, July 30th. Alliant Energy’s dividend payout ratio (DPR) is 73.58%.
A number of equities research analysts have commented on LNT shares. Zacks Investment Research cut Alliant Energy from a “buy” rating to a “hold” rating in a report on Wednesday, April 24th. Bank of America upgraded Alliant Energy from a “neutral” rating to a “buy” rating and increased their target price for the company from $50.00 to $54.00 in a report on Wednesday, June 26th. Finally, Argus restated a “buy” rating and set a $52.00 price objective on shares of Alliant Energy in a report on Wednesday, June 5th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $49.21.
In related news, SVP James H. Gallegos sold 5,000 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $50.00, for a total value of $250,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Patricia L. Kampling sold 10,000 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $47.55, for a total value of $475,500.00. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.
Alliant Energy Company Profile
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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