ING Groep NV acquired a new position in Alliant Energy Corp. (NYSE:LNT) during the second quarter, Holdings Channel reports. The fund acquired 8,085 shares of the company’s stock, valued at approximately $322,000.
Several other institutional investors also recently added to or reduced their stakes in LNT. TIAA CREF Investment Management LLC raised its stake in Alliant Energy Corp. by 23.2% in the first quarter. TIAA CREF Investment Management LLC now owns 340,517 shares of the company’s stock worth $25,294,000 after buying an additional 64,149 shares in the last quarter. Teachers Advisors Inc. raised its stake in Alliant Energy Corp. by 25.2% in the first quarter. Teachers Advisors Inc. now owns 136,443 shares of the company’s stock worth $10,135,000 after buying an additional 27,456 shares in the last quarter. BlackRock Inc. raised its stake in Alliant Energy Corp. by 14.2% in the first quarter. BlackRock Inc. now owns 171,447 shares of the company’s stock worth $12,735,000 after buying an additional 21,293 shares in the last quarter. BlackRock Group LTD raised its stake in Alliant Energy Corp. by 2.6% in the first quarter. BlackRock Group LTD now owns 802,124 shares of the company’s stock worth $59,582,000 after buying an additional 20,336 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in Alliant Energy Corp. by 1.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,421,495 shares of the company’s stock worth $254,149,000 after buying an additional 46,524 shares in the last quarter. 65.60% of the stock is currently owned by institutional investors.
Alliant Energy Corp. (NYSE:LNT) traded up 1.51% on Wednesday, hitting $36.92. 942,778 shares of the stock were exchanged. The stock has a market cap of $8.39 billion, a price-to-earnings ratio of 21.23 and a beta of 0.41. Alliant Energy Corp. has a 12 month low of $28.07 and a 12 month high of $40.99. The company has a 50-day moving average of $38.25 and a 200-day moving average of $38.06.
Alliant Energy Corp. (NYSE:LNT) last announced its earnings results on Monday, August 1st. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by $0.01. The company had revenue of $754.60 million for the quarter, compared to the consensus estimate of $593.06 million. Alliant Energy Corp. had a net margin of 12.50% and a return on equity of 11.02%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.31 EPS. On average, equities analysts predict that Alliant Energy Corp. will post $1.89 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Monday, October 31st will be paid a dividend of $0.2938 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date is Thursday, October 27th. Alliant Energy Corp.’s payout ratio is 67.24%.
A number of equities research analysts recently weighed in on LNT shares. Zacks Investment Research upgraded shares of Alliant Energy Corp. from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Monday, July 11th. Argus increased their price objective on shares of Alliant Energy Corp. from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, August 25th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $38.75.
About Alliant Energy Corp.
Alliant Energy Corporation (Alliant Energy) is a regulated investor-owned public utility holding company. The Company provides regulated electric and natural gas services in Iowa and Wisconsin. The Company’s business segments are Utility and Non-regulated, Parent and Other. The Utility segment includes the operations of Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL).
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