Duff & Phelps Investment Management Co. reduced its stake in Alliant Energy Co. (NYSE:LNT) by 4.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,131,240 shares of the utilities provider’s stock after selling 108,000 shares during the quarter. Alliant Energy accounts for 1.5% of Duff & Phelps Investment Management Co.’s investment portfolio, making the stock its 18th biggest holding. Duff & Phelps Investment Management Co. owned about 0.90% of Alliant Energy worth $104,601,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Horizon Investments LLC grew its stake in shares of Alliant Energy by 9.6% in the 1st quarter. Horizon Investments LLC now owns 32,225 shares of the utilities provider’s stock valued at $1,507,000 after purchasing an additional 2,833 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Alliant Energy by 1.2% in the 1st quarter. Nordea Investment Management AB now owns 138,463 shares of the utilities provider’s stock valued at $6,526,000 after purchasing an additional 1,576 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Alliant Energy by 6.6% in the 1st quarter. First Trust Advisors LP now owns 1,090,503 shares of the utilities provider’s stock valued at $51,395,000 after purchasing an additional 67,116 shares during the last quarter. Wealthfront Advisers LLC grew its stake in shares of Alliant Energy by 30.5% in the 1st quarter. Wealthfront Advisers LLC now owns 27,771 shares of the utilities provider’s stock valued at $1,309,000 after purchasing an additional 6,484 shares during the last quarter. Finally, AdvisorNet Financial Inc grew its stake in shares of Alliant Energy by 5.1% in the 2nd quarter. AdvisorNet Financial Inc now owns 23,862 shares of the utilities provider’s stock valued at $1,171,000 after purchasing an additional 1,164 shares during the last quarter. Institutional investors own 71.12% of the company’s stock.
Shares of LNT traded up $0.19 during mid-day trading on Friday, hitting $51.76. The company’s stock had a trading volume of 19,672 shares, compared to its average volume of 1,323,234. 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 firm has a 50-day simple moving average of $50.11 and a 200 day simple moving average of $47.77. The firm has a market capitalization of $12.25 billion, a P/E ratio of 26.82, a P/E/G ratio of 3.28 and a beta of 0.18. Alliant Energy Co. has a 1-year low of $40.68 and a 1-year high of $51.77.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were issued a $0.355 dividend. The ex-dividend date of this dividend was Tuesday, July 30th. This represents a $1.42 annualized dividend and a dividend yield of 2.74%. Alliant Energy’s dividend payout ratio is currently 73.58%.
LNT has been the topic of several analyst reports. Bank of America upgraded Alliant Energy from a “neutral” rating to a “buy” rating and lifted their target price for the company from $50.00 to $54.00 in a research note on Wednesday, June 26th. Argus reiterated a “buy” rating and issued a $52.00 target price on shares of Alliant Energy in a research note on Wednesday, June 5th. Finally, Zacks Investment Research downgraded Alliant Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $49.92.
In related news, Chairman Patricia L. Kampling sold 10,000 shares of Alliant Energy stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $47.55, for a total transaction of $475,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP James H. Gallegos sold 5,000 shares of Alliant Energy 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 disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.
Alliant Energy 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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