CIBC Asset Management Inc Acquires 2,894 Shares of Alliant Energy Co. (NASDAQ:LNT)

CIBC Asset Management Inc lifted its stake in Alliant Energy Co. (NASDAQ:LNT) by 6.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,563 shares of the company’s stock after purchasing an additional 2,894 shares during the quarter. CIBC Asset Management Inc’s holdings in Alliant Energy were worth $2,694,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Janus Henderson Group PLC grew its holdings in shares of Alliant Energy by 10.3% during the first quarter. Janus Henderson Group PLC now owns 10,579,475 shares of the company’s stock valued at $533,205,000 after buying an additional 984,963 shares during the last quarter. Johnson Investment Counsel Inc. boosted its stake in Alliant Energy by 1.7% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 1,756,533 shares of the company’s stock valued at $89,408,000 after purchasing an additional 29,358 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Alliant Energy by 9.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,293,966 shares of the company’s stock valued at $65,865,000 after purchasing an additional 116,399 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Alliant Energy by 9.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,183,765 shares of the company’s stock worth $71,839,000 after purchasing an additional 101,387 shares in the last quarter. Finally, Anchor Capital Advisors LLC raised its stake in shares of Alliant Energy by 6.0% in the second quarter. Anchor Capital Advisors LLC now owns 964,337 shares of the company’s stock worth $49,085,000 after purchasing an additional 54,510 shares during the last quarter. Hedge funds and other institutional investors own 79.90% of the company’s stock.

Alliant Energy Price Performance

LNT stock opened at $62.25 on Wednesday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.72 and a current ratio of 0.86. The company’s fifty day moving average price is $60.06 and its 200-day moving average price is $55.88. Alliant Energy Co. has a one year low of $46.80 and a one year high of $62.49. The company has a market capitalization of $15.97 billion, a PE ratio of 24.13, a price-to-earnings-growth ratio of 3.02 and a beta of 0.58.

Alliant Energy (NASDAQ:LNT) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $1.10 by $0.05. Alliant Energy had a net margin of 16.66% and a return on equity of 10.56%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the firm earned $1.05 EPS. The business’s revenue was up .4% on a year-over-year basis. On average, equities analysts anticipate that Alliant Energy Co. will post 3.04 EPS for the current fiscal year.

Alliant Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.92 annualized dividend and a dividend yield of 3.08%. Alliant Energy’s dividend payout ratio (DPR) is 74.42%.

Analyst Ratings Changes

Several research firms recently commented on LNT. Wells Fargo & Company reduced their price objective on Alliant Energy from $66.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Mizuho boosted their price objective on shares of Alliant Energy from $52.00 to $61.00 and gave the company a “neutral” rating in a report on Friday, October 4th. Jefferies Financial Group initiated coverage on shares of Alliant Energy in a research report on Thursday, September 19th. They issued a “hold” rating and a $67.00 target price for the company. Scotiabank increased their price target on Alliant Energy from $58.00 to $64.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Finally, Barclays cut their price objective on Alliant Energy from $61.00 to $59.00 and set an “equal weight” rating for the company in a report on Wednesday, November 6th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $63.06.

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.