First Merchants Corp increased its position in shares of Alliant Energy Co. (NYSE:LNT) by 3.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 96,539 shares of the utilities provider’s stock after acquiring an additional 3,341 shares during the period. First Merchants Corp’s holdings in Alliant Energy were worth $5,206,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Amundi Pioneer Asset Management Inc. increased its position in Alliant Energy by 7.8% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 1,350,885 shares of the utilities provider’s stock worth $63,668,000 after purchasing an additional 97,873 shares during the last quarter. Ellenbecker Investment Group acquired a new position in shares of Alliant Energy in the second quarter valued at approximately $225,000. Carroll Financial Associates Inc. grew its holdings in shares of Alliant Energy by 39.2% in the second quarter. Carroll Financial Associates Inc. now owns 3,187 shares of the utilities provider’s stock valued at $156,000 after purchasing an additional 897 shares in the last quarter. Contravisory Investment Management Inc. acquired a new position in shares of Alliant Energy in the second quarter valued at approximately $334,000. Finally, Dubuque Bank & Trust Co. grew its holdings in shares of Alliant Energy by 8.8% in the second quarter. Dubuque Bank & Trust Co. now owns 5,233 shares of the utilities provider’s stock valued at $257,000 after purchasing an additional 424 shares in the last quarter. Hedge funds and other institutional investors own 71.12% of the company’s stock.
Separately, UBS Group lifted their price objective on shares of Alliant Energy from $49.00 to $53.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $50.36.
Alliant Energy (NYSE:LNT) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.04). Alliant Energy had a return on equity of 11.69% and a net margin of 15.09%. The firm had revenue of $790.20 million during the quarter, compared to analysts’ expectations of $828.79 million. During the same quarter in the prior year, the firm earned $0.43 EPS. The firm’s revenue was down 3.2% compared to the same quarter last year. As a group, research analysts anticipate 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 Friday, November 15th. Investors of record on Thursday, October 31st will be paid a $0.355 dividend. The ex-dividend date is Wednesday, October 30th. This represents a $1.42 dividend on an annualized basis and a yield of 2.65%. Alliant Energy’s dividend payout ratio is currently 73.58%.
In related news, SVP Leon David A. De acquired 941 shares of Alliant Energy stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average price of $53.15 per share, for a total transaction of $50,014.15. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP James H. Gallegos sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $52.29, for a total transaction of $261,450.00. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by 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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