CIBC Asset Management Inc Has $2.12 Million Stake in Alliant Energy Co. (NASDAQ:LNT)

CIBC Asset Management Inc cut its stake in Alliant Energy Co. (NASDAQ:LNT) by 5.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 41,669 shares of the company’s stock after selling 2,329 shares during the period. CIBC Asset Management Inc’s holdings in Alliant Energy were worth $2,121,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Intech Investment Management LLC raised its holdings in shares of Alliant Energy by 604.0% in the first quarter. Intech Investment Management LLC now owns 72,768 shares of the company’s stock valued at $3,668,000 after purchasing an additional 62,431 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Alliant Energy by 224.2% in the 4th quarter. BNP Paribas Financial Markets now owns 468,855 shares of the company’s stock valued at $24,052,000 after buying an additional 324,252 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Alliant Energy by 24.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 103,499 shares of the company’s stock worth $5,309,000 after buying an additional 20,371 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of Alliant Energy by 200.8% during the 1st quarter. Cetera Investment Advisers now owns 215,821 shares of the company’s stock worth $10,877,000 after buying an additional 144,077 shares during the last quarter. Finally, Cibc World Markets Corp increased its position in shares of Alliant Energy by 134.9% in the fourth quarter. Cibc World Markets Corp now owns 32,771 shares of the company’s stock valued at $1,681,000 after acquiring an additional 18,822 shares during the last quarter. 79.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LNT has been the subject of several recent research reports. LADENBURG THALM/SH SH raised Alliant Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $50.00 to $62.50 in a research report on Tuesday, August 13th. BMO Capital Markets raised their target price on shares of Alliant Energy from $58.00 to $60.00 and gave the company a “market perform” rating in a research note on Tuesday, August 6th. Wells Fargo & Company boosted their target price on shares of Alliant Energy from $56.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Barclays increased their price target on shares of Alliant Energy from $52.00 to $55.00 and gave the company an “equal weight” rating in a research note on Thursday, July 11th. Finally, Scotiabank boosted their price objective on shares of Alliant Energy from $58.00 to $64.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $58.50.

Alliant Energy Stock Down 0.7 %

LNT opened at $58.58 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.31. The stock’s fifty day simple moving average is $55.68 and its 200 day simple moving average is $51.82. Alliant Energy Co. has a 1-year low of $45.15 and a 1-year high of $59.80. The stock has a market cap of $15.03 billion, a PE ratio of 21.30, a price-to-earnings-growth ratio of 2.82 and a beta of 0.58.

Alliant Energy (NASDAQ:LNT) last posted its earnings results on Thursday, August 1st. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.07). Alliant Energy had a return on equity of 10.23% and a net margin of 15.77%. The company had revenue of $894.00 million for the quarter, compared to analyst estimates of $897.03 million. During the same quarter in the prior year, the business posted $0.64 EPS. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. As a group, research analysts expect that Alliant Energy Co. will post 3.07 earnings per share for the current year.

Alliant Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend was Wednesday, July 31st. Alliant Energy’s payout ratio is 69.82%.

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.