Mitsubishi UFJ Trust & Banking Corp trimmed its stake in shares of Alliant Energy Co. (NYSE:LNT) by 61.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 186,618 shares of the utilities provider’s stock after selling 299,826 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Alliant Energy were worth $7,944,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of LNT. Commonwealth Bank of Australia lifted its stake in shares of Alliant Energy by 11.4% in the second quarter. Commonwealth Bank of Australia now owns 3,498,963 shares of the utilities provider’s stock worth $147,412,000 after buying an additional 359,030 shares in the last quarter. Epoch Investment Partners Inc. purchased a new position in shares of Alliant Energy in the second quarter worth about $14,640,000. Covalis Capital LLP lifted its stake in shares of Alliant Energy by 2,088.3% in the second quarter. Covalis Capital LLP now owns 302,599 shares of the utilities provider’s stock worth $12,806,000 after buying an additional 288,771 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Alliant Energy by 59.4% in the third quarter. Russell Investments Group Ltd. now owns 747,001 shares of the utilities provider’s stock worth $31,705,000 after buying an additional 278,434 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Alliant Energy in the third quarter worth about $8,889,000. 71.43% of the stock is currently owned by institutional investors and hedge funds.
NYSE:LNT opened at $45.84 on Friday. 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 stock has a market capitalization of $10.79 billion, a PE ratio of 21.47, a price-to-earnings-growth ratio of 3.57 and a beta of 0.18. Alliant Energy Co. has a twelve month low of $36.84 and a twelve month high of $46.58.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Wednesday, October 31st were paid a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date was Tuesday, October 30th. Alliant Energy’s dividend payout ratio (DPR) is presently 69.43%.
In other news, Director Deborah B. Dunie bought 1,250 shares of Alliant Energy stock in a transaction on Thursday, September 13th. The shares were bought at an average cost of $43.80 per share, with a total value of $54,750.00. Following the completion of the purchase, the director now directly owns 12,300 shares of the company’s stock, valued at $538,740. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is owned by insiders.
Several equities analysts have recently weighed in on the stock. Mizuho reissued a “hold” rating and issued a $44.50 price target on shares of Alliant Energy in a research note on Thursday, November 29th. Bank of America downgraded shares of Alliant Energy from a “neutral” rating to an “underperform” rating in a research note on Wednesday, November 21st. ValuEngine raised shares of Alliant Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, November 21st. Wells Fargo & Co raised their price target on shares of Alliant Energy from $47.00 to $48.00 and gave the stock a “market perform” rating in a research note on Thursday, November 8th. Finally, Wolfe Research downgraded shares of Alliant Energy from a “peer perform” rating to an “underperform” rating in a research note on Monday, August 13th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $45.42.
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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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