TD Asset Management Inc Increases Stock Position in Alliant Energy Co. (NASDAQ:LNT)

TD Asset Management Inc boosted its stake in shares of Alliant Energy Co. (NASDAQ:LNT) by 2.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 90,085 shares of the company’s stock after purchasing an additional 2,569 shares during the period. TD Asset Management Inc’s holdings in Alliant Energy were worth $4,585,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in LNT. Gilbert & Cook Inc. boosted its position in Alliant Energy by 5.6% during the fourth quarter. Gilbert & Cook Inc. now owns 6,097 shares of the company’s stock worth $313,000 after purchasing an additional 323 shares during the period. Private Advisor Group LLC raised its stake in Alliant Energy by 52.1% in the fourth quarter. Private Advisor Group LLC now owns 8,792 shares of the company’s stock valued at $451,000 after purchasing an additional 3,012 shares in the last quarter. Principal Securities Inc. purchased a new stake in Alliant Energy in the fourth quarter valued at approximately $128,000. QRG Capital Management Inc. raised its stake in Alliant Energy by 4.8% in the fourth quarter. QRG Capital Management Inc. now owns 6,716 shares of the company’s stock valued at $345,000 after purchasing an additional 309 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Alliant Energy by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 899,638 shares of the company’s stock valued at $46,152,000 after purchasing an additional 9,578 shares in the last quarter. Institutional investors own 79.90% of the company’s stock.

Alliant Energy Stock Down 0.6 %

Shares of NASDAQ LNT opened at $59.00 on Thursday. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.31. Alliant Energy Co. has a 52 week low of $45.15 and a 52 week high of $59.80. The firm’s fifty day moving average is $56.18 and its 200 day moving average is $52.06. The company has a market cap of $15.13 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 2.79 and a beta of 0.58.

Alliant Energy (NASDAQ:LNT) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.07). Alliant Energy had a net margin of 15.77% and a return on equity of 10.23%. The company had revenue of $894.00 million during the quarter, compared to the consensus estimate of $897.03 million. During the same quarter last year, the firm earned $0.64 EPS. The business’s revenue was down 2.0% on a year-over-year basis. On average, equities research analysts expect that Alliant Energy Co. will post 3.07 earnings per share for the current year.

Alliant Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend was Wednesday, July 31st. Alliant Energy’s dividend payout ratio (DPR) is presently 69.82%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Scotiabank raised their target price on shares of Alliant Energy from $58.00 to $64.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Barclays raised their target price 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. Bank of America raised their target price on shares of Alliant Energy from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. BMO Capital Markets lifted their price target on shares of Alliant Energy from $58.00 to $60.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 6th. Finally, LADENBURG THALM/SH SH raised shares of Alliant Energy from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $50.00 to $62.50 in a research note on Tuesday, August 13th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $58.50.

Alliant Energy 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.