Allstate Corp Purchases Shares of 7,987 Alliant Energy Co. (NASDAQ:LNT)

Allstate Corp acquired a new stake in Alliant Energy Co. (NASDAQ:LNT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,987 shares of the company’s stock, valued at approximately $472,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of LNT. SBI Securities Co. Ltd. bought a new stake in Alliant Energy in the fourth quarter valued at $29,000. ORG Partners LLC boosted its stake in shares of Alliant Energy by 517.0% during the 4th quarter. ORG Partners LLC now owns 617 shares of the company’s stock valued at $36,000 after purchasing an additional 517 shares in the last quarter. Larson Financial Group LLC increased its position in shares of Alliant Energy by 67.5% during the fourth quarter. Larson Financial Group LLC now owns 722 shares of the company’s stock valued at $43,000 after buying an additional 291 shares during the period. WASHINGTON TRUST Co raised its stake in Alliant Energy by 251.2% in the fourth quarter. WASHINGTON TRUST Co now owns 878 shares of the company’s stock worth $52,000 after buying an additional 628 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Alliant Energy in the fourth quarter worth about $53,000. 79.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LNT. Scotiabank lowered Alliant Energy from a “sector outperform” rating to a “sector perform” rating and increased their target price for the stock from $64.00 to $67.00 in a research report on Thursday, December 12th. Guggenheim reissued a “neutral” rating and set a $57.00 price objective on shares of Alliant Energy in a research report on Monday, February 24th. UBS Group boosted their target price on shares of Alliant Energy from $65.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Finally, BMO Capital Markets increased their price target on shares of Alliant Energy from $60.00 to $66.00 and gave the stock a “market perform” rating in a research note on Monday, February 24th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Alliant Energy presently has a consensus rating of “Hold” and a consensus price target of $63.55.

Alliant Energy Trading Up 0.1 %

Shares of NASDAQ LNT opened at $64.42 on Wednesday. The company has a market cap of $16.54 billion, a PE ratio of 23.95, a P/E/G ratio of 2.83 and a beta of 0.54. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.72 and a current ratio of 0.86. The firm’s 50 day moving average price is $61.88 and its 200-day moving average price is $60.75. Alliant Energy Co. has a 52-week low of $47.23 and a 52-week high of $66.54.

Alliant Energy (NASDAQ:LNT) last issued its earnings results on Thursday, February 20th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.68 by $0.02. Alliant Energy had a return on equity of 11.39% and a net margin of 17.33%. The business had revenue of $976.00 million for the quarter, compared to the consensus estimate of $1.14 billion. On average, equities research analysts expect that Alliant Energy Co. will post 3.23 EPS for the current fiscal year.

Alliant Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st were issued a dividend of $0.5075 per share. This represents a $2.03 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend was Friday, January 31st. This is an increase from Alliant Energy’s previous quarterly dividend of $0.48. Alliant Energy’s dividend payout ratio (DPR) is presently 75.46%.

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.