Comerica Bank lifted its stake in shares of Alliant Energy Co. (NYSE:LNT) by 1.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 100,922 shares of the utilities provider’s stock after purchasing an additional 1,862 shares during the period. Comerica Bank’s holdings in Alliant Energy were worth $4,672,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the company. Synovus Financial Corp boosted its holdings in shares of Alliant Energy by 2.3% during the 4th quarter. Synovus Financial Corp now owns 10,230 shares of the utilities provider’s stock worth $433,000 after purchasing an additional 230 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of Alliant Energy by 6.3% during the 4th quarter. IFP Advisors Inc now owns 4,060 shares of the utilities provider’s stock worth $171,000 after purchasing an additional 242 shares during the last quarter. GWM Advisors LLC boosted its holdings in shares of Alliant Energy by 0.5% during the 4th quarter. GWM Advisors LLC now owns 48,270 shares of the utilities provider’s stock worth $2,039,000 after purchasing an additional 254 shares during the last quarter. HL Financial Services LLC boosted its holdings in shares of Alliant Energy by 2.8% during the 4th quarter. HL Financial Services LLC now owns 9,383 shares of the utilities provider’s stock worth $396,000 after purchasing an additional 260 shares during the last quarter. Finally, Coastline Trust Co boosted its holdings in shares of Alliant Energy by 0.9% during the 4th quarter. Coastline Trust Co now owns 31,900 shares of the utilities provider’s stock worth $1,348,000 after purchasing an additional 280 shares during the last quarter. Institutional investors and hedge funds own 71.12% of the company’s stock.
Several brokerages have recently weighed in on LNT. Zacks Investment Research cut Alliant Energy from a “buy” rating to a “hold” rating in a report on Wednesday, April 24th. Wells Fargo & Co lifted their price target on shares of Alliant Energy from $49.00 to $52.00 and gave the company an “outperform” rating in a research report on Monday, February 25th. Bank of America raised shares of Alliant Energy from an “underperform” rating to a “neutral” rating and set a $44.00 price target on the stock in a research report on Thursday, January 31st. Wolfe Research raised shares of Alliant Energy from an “underperform” rating to a “market perform” rating in a research report on Tuesday, January 22nd. Finally, Barclays assumed coverage on shares of 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. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $46.94.
Alliant Energy (NYSE:LNT) last released its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.02. The firm had revenue of $987.20 million for the quarter, compared to analyst estimates of $903.85 million. Alliant Energy had a net margin of 15.09% and a return on equity of 11.69%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.52 EPS. Analysts forecast that Alliant Energy Co. will post 2.15 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th were given a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend was Monday, April 29th. Alliant Energy’s payout ratio is presently 73.58%.
In other Alliant Energy news, SVP James H. Gallegos sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $47.50, for a total value of $237,500.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Patricia L. Kampling sold 10,000 shares of the business’s stock in a transaction that occurred on 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. 0.25% of the stock is currently owned by insiders.
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.
Read More: Cost of Debt
Want to see what other hedge funds are holding LNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alliant Energy Co. (NYSE:LNT).
Receive News & Ratings for Alliant Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alliant Energy and related companies with MarketBeat.com's FREE daily email newsletter.