Point72 Asset Management L.P. Acquires 771,919 Shares of Alliant Energy Co. (NASDAQ:LNT)

Point72 Asset Management L.P. increased its holdings in Alliant Energy Co. (NASDAQ:LNT) by 92.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,604,272 shares of the company’s stock after purchasing an additional 771,919 shares during the period. Point72 Asset Management L.P. owned 0.63% of Alliant Energy worth $97,363,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV lifted its position in shares of Alliant Energy by 7.2% in the third quarter. Massmutual Trust Co. FSB ADV now owns 2,605 shares of the company’s stock worth $158,000 after buying an additional 174 shares in the last quarter. Empirical Finance LLC raised its holdings in shares of Alliant Energy by 2.2% during the 3rd quarter. Empirical Finance LLC now owns 8,637 shares of the company’s stock worth $524,000 after acquiring an additional 189 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Alliant Energy by 0.9% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 21,979 shares of the company’s stock valued at $1,119,000 after acquiring an additional 200 shares during the last quarter. Retirement Systems of Alabama boosted its position in shares of Alliant Energy by 0.4% during the 2nd quarter. Retirement Systems of Alabama now owns 56,557 shares of the company’s stock valued at $2,879,000 after acquiring an additional 236 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Alliant Energy by 0.3% in the second quarter. Arizona State Retirement System now owns 70,426 shares of the company’s stock valued at $3,585,000 after purchasing an additional 239 shares in the last quarter. 79.90% of the stock is currently owned by institutional investors.

Alliant Energy Trading Down 0.7 %

LNT opened at $61.83 on Wednesday. Alliant Energy Co. has a 52 week low of $46.80 and a 52 week high of $64.19. The company has a quick ratio of 0.72, a current ratio of 0.86 and a debt-to-equity ratio of 1.33. The stock’s fifty day moving average is $60.69 and its two-hundred day moving average is $56.70. The company has a market capitalization of $15.87 billion, a P/E ratio of 23.97, a PEG ratio of 3.08 and a beta of 0.59.

Alliant Energy (NASDAQ:LNT) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.05. Alliant Energy had a net margin of 16.66% and a return on equity of 10.56%. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period last year, the firm earned $1.05 earnings per share. The company’s quarterly revenue was up .4% on a year-over-year basis. Analysts forecast that Alliant Energy Co. will post 3.04 earnings per share for the current year.

Alliant Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 3.11%. The ex-dividend date was Thursday, October 31st. Alliant Energy’s payout ratio is 74.42%.

Wall Street Analysts Forecast Growth

Several research firms have commented on LNT. Mizuho increased their price objective on shares of Alliant Energy from $52.00 to $61.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. Jefferies Financial Group began coverage on Alliant Energy in a research report on Thursday, September 19th. They issued a “hold” rating and a $67.00 price target for the company. LADENBURG THALM/SH SH raised Alliant Energy from a “neutral” rating to a “buy” rating and boosted their target price for the company from $50.00 to $62.50 in a research report on Tuesday, August 13th. Bank of America increased their price objective on shares of Alliant Energy from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Wells Fargo & Company cut their target price on Alliant Energy from $66.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Alliant Energy presently has an average rating of “Hold” and a consensus target price of $63.06.

Alliant Energy Company Profile

Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services in the United States. It operates in three segments: Utility Electric Operations, Utility Gas Operations, and Utility 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.