Allspring Global Investments Holdings LLC Acquires 8,712 Shares of Alliant Energy Co. (NASDAQ:LNT)

Allspring Global Investments Holdings LLC raised its holdings in shares of Alliant Energy Co. (NASDAQ:LNT) by 4.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 187,566 shares of the company’s stock after purchasing an additional 8,712 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Alliant Energy were worth $11,383,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of LNT. Brookstone Capital Management raised its position in Alliant Energy by 59.3% in the 1st quarter. Brookstone Capital Management now owns 7,096 shares of the company’s stock worth $358,000 after buying an additional 2,641 shares during the last quarter. Alpha Omega Wealth Management LLC raised its holdings in shares of Alliant Energy by 6.9% during the first quarter. Alpha Omega Wealth Management LLC now owns 54,865 shares of the company’s stock valued at $2,765,000 after purchasing an additional 3,523 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its position in Alliant Energy by 9.2% during the first quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 48,055 shares of the company’s stock valued at $2,422,000 after purchasing an additional 4,056 shares during the period. Iron Horse Wealth Management LLC purchased a new stake in Alliant Energy in the first quarter worth approximately $124,000. Finally, BKM Wealth Management LLC grew its position in Alliant Energy by 24.7% in the 1st quarter. BKM Wealth Management LLC now owns 3,002 shares of the company’s stock worth $151,000 after purchasing an additional 594 shares during the period. Hedge funds and other institutional investors own 79.90% of the company’s stock.

Analyst Ratings Changes

LNT has been the topic of a number of research reports. LADENBURG THALM/SH SH upgraded Alliant Energy from a “neutral” rating to a “buy” rating and raised their price target for the stock from $50.00 to $62.50 in a research note on Tuesday, August 13th. Mizuho boosted their price target on Alliant Energy from $52.00 to $61.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. Bank of America upped their price target on shares of Alliant Energy from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Wells Fargo & Company boosted their target price on shares of Alliant Energy from $62.00 to $66.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Finally, UBS Group increased their price target on shares of Alliant Energy from $64.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $63.28.

Alliant Energy Stock Performance

Shares of NASDAQ LNT opened at $60.74 on Friday. The stock has a market cap of $15.57 billion, a PE ratio of 22.09, a price-to-earnings-growth ratio of 2.93 and a beta of 0.58. Alliant Energy Co. has a 1 year low of $46.80 and a 1 year high of $62.49. The firm has a fifty day moving average price of $59.64 and a 200-day moving average price of $54.55. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.65 and a quick ratio of 0.48.

Alliant Energy (NASDAQ:LNT) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.07). The business had revenue of $894.00 million for the quarter, compared to the consensus estimate of $897.03 million. Alliant Energy had a net margin of 15.77% and a return on equity of 10.23%. Alliant Energy’s revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.64 earnings per share. Equities analysts anticipate that Alliant Energy Co. will post 3.05 earnings per share for the current fiscal year.

Alliant Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be paid a $0.48 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.92 annualized dividend and a yield of 3.16%. Alliant Energy’s payout ratio is 69.82%.

About Alliant Energy

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.