California State Teachers Retirement System lowered its stake in shares of Alliant Energy Co. (NASDAQ:LNT) by 0.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 453,384 shares of the company’s stock after selling 868 shares during the period. California State Teachers Retirement System owned approximately 0.18% of Alliant Energy worth $24,555,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of LNT. SOA Wealth Advisors LLC. purchased a new stake in shares of Alliant Energy during the 4th quarter valued at about $29,000. Paradigm Strategies in Wealth Management LLC purchased a new stake in shares of Alliant Energy during the 1st quarter valued at about $31,000. Vantage Consulting Group Inc purchased a new stake in shares of Alliant Energy during the 4th quarter valued at about $40,000. Institutional & Family Asset Management LLC increased its position in shares of Alliant Energy by 725.0% during the 1st quarter. Institutional & Family Asset Management LLC now owns 825 shares of the company’s stock valued at $45,000 after purchasing an additional 725 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC purchased a new stake in shares of Alliant Energy during the 1st quarter valued at about $48,000. Institutional investors and hedge funds own 75.37% of the company’s stock.
Shares of LNT opened at $57.42 on Thursday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.39 and a current ratio of 0.54. Alliant Energy Co. has a 1 year low of $45.99 and a 1 year high of $59.23. The firm’s 50 day moving average is $57.34. The stock has a market cap of $14.36 billion, a price-to-earnings ratio of 23.34, a P/E/G ratio of 4.09 and a beta of 0.35.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 16th. Shareholders of record on Friday, July 30th will be issued a dividend of $0.4025 per share. This represents a $1.61 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend is Thursday, July 29th. Alliant Energy’s dividend payout ratio (DPR) is currently 66.26%.
Several equities research analysts have recently commented on the stock. TheStreet raised shares of Alliant Energy from a “c+” rating to a “b” rating in a research report on Monday, April 26th. Scotiabank lowered shares of Alliant Energy from a “sector outperform” rating to a “sector perform” rating in a report on Tuesday, July 6th. They noted that the move was a valuation call. Argus increased their target price on shares of Alliant Energy from $56.00 to $64.00 and gave the stock a “buy” rating in a report on Friday, June 11th. Mizuho raised shares of Alliant Energy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $50.00 to $61.00 in a report on Tuesday, May 18th. Finally, Barclays increased their target price on shares of Alliant Energy from $55.00 to $61.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 25th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Alliant Energy presently has an average rating of “Hold” and an average target price of $58.11.
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 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.
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