Swiss National Bank raised its holdings in Alliant Energy Co. (NYSE:LNT) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 851,098 shares of the utilities provider’s stock after buying an additional 11,800 shares during the period. Swiss National Bank’s holdings in Alliant Energy were worth $36,265,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Field & Main Bank bought a new position in shares of Alliant Energy in the fourth quarter valued at $169,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Alliant Energy in the third quarter valued at $187,000. Csenge Advisory Group bought a new position in shares of Alliant Energy in the third quarter valued at $207,000. Linscomb & Williams Inc. bought a new position in shares of Alliant Energy in the fourth quarter valued at $213,000. Finally, Independent Advisor Alliance bought a new position in shares of Alliant Energy in the third quarter valued at $211,000. 68.97% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Alliant Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, January 24th. Bank of America assumed coverage on shares of Alliant Energy in a research note on Tuesday, October 24th. They issued a “neutral” rating and a $45.00 price objective on the stock. UBS Group assumed coverage on shares of Alliant Energy in a research note on Friday, February 2nd. They issued a “neutral” rating and a $40.00 price objective on the stock. Wells Fargo & Co lowered shares of Alliant Energy from an “outperform” rating to a “market perform” rating in a research note on Monday, December 18th. Finally, Guggenheim reaffirmed a “hold” rating and issued a $43.00 price objective on shares of Alliant Energy in a research note on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $42.80.
Shares of Alliant Energy Co. (NYSE:LNT) opened at $39.75 on Friday. The company has a market cap of $9,190.36, a PE ratio of 21.26, a PEG ratio of 3.49 and a beta of 0.35. The company has a quick ratio of 0.36, a current ratio of 0.51 and a debt-to-equity ratio of 1.02. Alliant Energy Co. has a 1-year low of $36.84 and a 1-year high of $45.55.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st were issued a $0.335 dividend. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $1.34 annualized dividend and a dividend yield of 3.37%. This is an increase from Alliant Energy’s previous quarterly dividend of $0.32. Alliant Energy’s dividend payout ratio is currently 72.04%.
Alliant Energy announced that its Board of Directors has approved a stock buyback plan on Monday, January 15th that permits the company to repurchase shares. This repurchase authorization permits the utilities provider to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
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About Alliant Energy
Alliant Energy Corporation operates as a regulated investor-owned public utility holding company. The Company’s segments include Utility and Non-regulated, Parent and Other. The Utility segment includes the operations of Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL), which serve retail customers in Iowa and Wisconsin.
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