Cullen Frost Bankers Inc. cut its holdings in Alliant Energy Co. (NYSE:LNT) by 13.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,870 shares of the utilities provider’s stock after selling 1,877 shares during the period. Cullen Frost Bankers Inc.’s holdings in Alliant Energy were worth $640,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in LNT. Private Capital Group LLC lifted its stake in Alliant Energy by 367.7% during the second quarter. Private Capital Group LLC now owns 580 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 456 shares in the last quarter. NumerixS Investment Technologies Inc acquired a new position in Alliant Energy during the second quarter worth $29,000. Personal Wealth Partners acquired a new position in Alliant Energy during the second quarter worth $31,000. Advisory Services Network LLC lifted its stake in Alliant Energy by 354.1% during the second quarter. Advisory Services Network LLC now owns 722 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 563 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its stake in Alliant Energy by 583.3% during the second quarter. Meeder Asset Management Inc. now owns 779 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 665 shares in the last quarter. Institutional investors own 71.12% of the company’s stock.
In related news, SVP Leon David A. De acquired 941 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average price of $53.15 per share, with a total value of $50,014.15. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP James H. Gallegos sold 5,000 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $52.29, for a total value of $261,450.00. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.
Alliant Energy (NYSE:LNT) last released its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.01. Alliant Energy had a return on equity of 11.69% and a net margin of 15.09%. The company had revenue of $990.20 million for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the prior year, the firm earned $0.85 earnings per share. The firm’s revenue was up 6.6% compared to the same quarter last year. On average, sell-side analysts expect that Alliant Energy Co. will post 2.15 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend is Wednesday, October 30th. Alliant Energy’s dividend payout ratio is currently 73.58%.
Separately, UBS Group upped their price target on Alliant Energy from $49.00 to $53.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Alliant Energy has a consensus rating of “Hold” and a consensus price target of $50.36.
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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