Nomura Asset Management Co. Ltd. lifted its position in shares of Alliant Energy Co. (NYSE:LNT) by 121.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,219 shares of the utilities provider’s stock after purchasing an additional 42,823 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Alliant Energy were worth $3,333,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in LNT. Nationwide Fund Advisors boosted its position in shares of Alliant Energy by 7.4% during the third quarter. Nationwide Fund Advisors now owns 182,881 shares of the utilities provider’s stock worth $7,602,000 after purchasing an additional 12,600 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of Alliant Energy by 3.9% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 52,033 shares of the utilities provider’s stock worth $2,163,000 after purchasing an additional 1,935 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in Alliant Energy by 44.7% in the 3rd quarter. Canada Pension Plan Investment Board now owns 21,700 shares of the utilities provider’s stock valued at $902,000 after acquiring an additional 6,700 shares in the last quarter. State of Wisconsin Investment Board lifted its position in Alliant Energy by 4.9% in the 3rd quarter. State of Wisconsin Investment Board now owns 91,899 shares of the utilities provider’s stock valued at $3,820,000 after acquiring an additional 4,257 shares in the last quarter. Finally, Keybank National Association OH bought a new stake in Alliant Energy in the 3rd quarter valued at $213,000. 69.89% of the stock is currently owned by institutional investors.
Shares of Alliant Energy stock opened at $39.66 on Thursday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.42 and a quick ratio of 0.32. Alliant Energy Co. has a 52 week low of $36.84 and a 52 week high of $45.55. The stock has a market cap of $9,180.22, a price-to-earnings ratio of 20.67, a price-to-earnings-growth ratio of 3.55 and a beta of 0.37.
Alliant Energy (NYSE:LNT) last issued its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). Alliant Energy had a net margin of 13.82% and a return on equity of 11.11%. The business had revenue of $856.10 million during the quarter, compared to analyst estimates of $896.94 million. During the same quarter in the previous year, the firm posted $0.28 earnings per share. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. equities research analysts anticipate that Alliant Energy Co. will post 2.11 earnings per share for the current fiscal year.
Alliant Energy announced that its Board of Directors has initiated a stock repurchase plan on Monday, January 15th that allows the company to repurchase outstanding shares. This repurchase authorization allows the utilities provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
In other Alliant Energy news, SVP James H. Gallegos sold 5,000 shares of Alliant Energy stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $39.80, for a total value of $199,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.33% of the stock is currently owned by insiders.
LNT has been the topic of several research reports. Guggenheim reaffirmed a “hold” rating and issued a $43.00 price objective on shares of Alliant Energy in a research report on Wednesday, January 3rd. Wells Fargo cut shares of Alliant Energy from an “outperform” rating to a “market perform” rating in a research report on Monday, December 18th. Zacks Investment Research raised shares of Alliant Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, February 28th. Finally, UBS initiated coverage on shares of Alliant Energy in a research report on Friday, February 2nd. They issued a “neutral” rating and a $40.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $42.83.
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Alliant Energy Company Profile
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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