Fifth Third Bancorp lifted its stake in Alliant Energy Co. (NASDAQ:LNT – Free Report) by 1.5% in the fourth quarter, HoldingsChannel reports. The firm owned 30,638 shares of the company’s stock after purchasing an additional 451 shares during the period. Fifth Third Bancorp’s holdings in Alliant Energy were worth $1,812,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of LNT. Point72 Asset Management L.P. grew its holdings in shares of Alliant Energy by 92.7% during the third quarter. Point72 Asset Management L.P. now owns 1,604,272 shares of the company’s stock valued at $97,363,000 after buying an additional 771,919 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Alliant Energy by 8.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,512,770 shares of the company’s stock valued at $395,260,000 after acquiring an additional 512,429 shares in the last quarter. Retirement Systems of Alabama increased its holdings in shares of Alliant Energy by 698.3% in the 3rd quarter. Retirement Systems of Alabama now owns 451,477 shares of the company’s stock valued at $27,400,000 after purchasing an additional 394,920 shares during the period. Weiss Asset Management LP purchased a new stake in shares of Alliant Energy in the third quarter worth approximately $10,705,000. Finally, Millennium Management LLC boosted its holdings in shares of Alliant Energy by 2,141.3% during the second quarter. Millennium Management LLC now owns 180,402 shares of the company’s stock worth $9,182,000 after purchasing an additional 172,353 shares during the period. Hedge funds and other institutional investors own 79.90% of the company’s stock.
Alliant Energy Stock Performance
Shares of NASDAQ LNT opened at $58.87 on Wednesday. The business’s 50-day simple moving average is $60.13 and its 200-day simple moving average is $59.06. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.72 and a current ratio of 0.86. Alliant Energy Co. has a 52 week low of $46.80 and a 52 week high of $64.19. The firm has a market cap of $15.11 billion, a price-to-earnings ratio of 22.82, a P/E/G ratio of 2.77 and a beta of 0.60.
Alliant Energy Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 31st will be issued a $0.5075 dividend. This represents a $2.03 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend is Friday, January 31st. This is an increase from Alliant Energy’s previous quarterly dividend of $0.48. Alliant Energy’s dividend payout ratio (DPR) is 74.42%.
Analysts Set New Price Targets
Several research firms have weighed in on LNT. Barclays dropped their price objective on shares of Alliant Energy from $61.00 to $59.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 6th. Wells Fargo & Company cut 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. Scotiabank cut Alliant Energy from a “sector outperform” rating to a “sector perform” rating and lifted their price objective for the company from $64.00 to $67.00 in a research report on Thursday, December 12th. BMO Capital Markets dropped their target price on Alliant Energy from $65.00 to $61.00 and set a “market perform” rating on the stock in a research report on Monday, November 4th. Finally, Mizuho lifted their price target on Alliant Energy from $52.00 to $61.00 and gave the company a “neutral” rating in a report on Friday, October 4th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $63.39.
Get Our Latest Stock Analysis on LNT
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.
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