Rakuten Investment Management Inc. Acquires New Shares in Alliant Energy Corporation $LNT

Rakuten Investment Management Inc. acquired a new position in Alliant Energy Corporation (NASDAQ:LNT) during the third quarter, HoldingsChannel reports. The institutional investor acquired 46,473 shares of the company’s stock, valued at approximately $2,990,000.

Several other hedge funds have also recently made changes to their positions in LNT. Jupiter Topco LLC bought a new position in shares of Alliant Energy during the second quarter valued at approximately $837,468,000. Magellan Asset Management Ltd purchased a new stake in Alliant Energy in the second quarter worth $151,629,000. Legal & General Group Plc bought a new stake in Alliant Energy in the second quarter valued at $143,968,000. Energy Income Partners LLC bought a new stake in Alliant Energy in the second quarter valued at $63,073,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Alliant Energy in the second quarter valued at $47,608,000. 79.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LNT has been the topic of a number of research analyst reports. Royal Bank Of Canada set a $75.00 price objective on shares of Alliant Energy in a research report on Wednesday, October 14th. BMO Capital Markets reaffirmed an “outperform” rating and set a $75.00 target price on shares of Alliant Energy in a research note on Wednesday, October 14th. Wells Fargo & Company lifted their target price on shares of Alliant Energy from $81.00 to $82.00 and gave the company an “overweight” rating in a research note on Monday, November 2nd. Mizuho reduced their price target on shares of Alliant Energy from $76.00 to $75.00 and set a “neutral” rating on the stock in a research report on Monday, August 3rd. Finally, Wall Street Zen raised shares of Alliant Energy from a “strong sell” rating to a “sell” rating in a research note on Sunday. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $75.23.

Alliant Energy Trading Down 1.0%

LNT opened at $72.67 on Friday. The stock has a market cap of $18.85 billion, a PE ratio of 20.24, a PEG ratio of 3.06 and a beta of 0.51. The company has a quick ratio of 0.35, a current ratio of 0.51 and a debt-to-equity ratio of 1.42. The business has a 50 day moving average of $67.43 and a 200-day moving average of $70.63. Alliant Energy Corporation has a 52 week low of $62.54 and a 52 week high of $78.81.

Alliant Energy (NASDAQ:LNT) last released its quarterly earnings results on Thursday, October 29th. The company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.21. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.26 billion. Alliant Energy had a return on equity of 12.43% and a net margin of 20.74%. The firm’s revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.12 earnings per share. Equities research analysts predict that Alliant Energy Corporation will post 3.43 earnings per share for the current fiscal year.

Alliant Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Friday, October 30th will be given a dividend of $0.5350 per share. The ex-dividend date of this dividend is Friday, October 30th. This represents a $2.14 annualized dividend and a yield of 2.9%. Alliant Energy’s dividend payout ratio (DPR) is currently 59.61%.

Alliant Energy Company Profile

Alliant Energy Corporation is a regulated utility holding company that provides electric and natural gas services through its subsidiaries, Interstate Power and Light Company and Wisconsin Power and Light Company. Its service territory includes communities across Iowa and Wisconsin.

The company’s operations include generating, transmitting and distributing electricity, as well as distributing natural gas. Its energy portfolio includes a mix of resources, including wind and solar power, natural gas and other generation sources.

Alliant Energy traces its roots to utility businesses that served the Midwest in the early 20th century.