Kentucky Retirement Systems Sells 243 Shares of Alliant Energy Co. (NASDAQ:LNT)

Kentucky Retirement Systems reduced its stake in Alliant Energy Co. (NASDAQ:LNT) by 1.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,626 shares of the company’s stock after selling 243 shares during the period. Kentucky Retirement Systems’ holdings in Alliant Energy were worth $1,042,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in LNT. ING Groep NV bought a new position in shares of Alliant Energy in the 4th quarter valued at $578,000. LMG Wealth Partners LLC increased its stake in shares of Alliant Energy by 2.3% in the fourth quarter. LMG Wealth Partners LLC now owns 31,264 shares of the company’s stock valued at $1,849,000 after buying an additional 714 shares during the period. Global Retirement Partners LLC raised its position in shares of Alliant Energy by 8.2% during the fourth quarter. Global Retirement Partners LLC now owns 2,509 shares of the company’s stock worth $148,000 after acquiring an additional 191 shares during the last quarter. BKM Wealth Management LLC acquired a new position in shares of Alliant Energy in the 4th quarter worth approximately $219,000. Finally, Atria Wealth Solutions Inc. lifted its holdings in Alliant Energy by 27.9% in the fourth quarter. Atria Wealth Solutions Inc. now owns 69,854 shares of the company’s stock valued at $4,131,000 after buying an additional 15,242 shares during the period. 79.90% of the stock is owned by institutional investors.

Alliant Energy Stock Performance

Shares of Alliant Energy stock opened at $62.81 on Monday. The business has a 50 day moving average price of $59.44 and a 200-day moving average price of $59.71. Alliant Energy Co. has a 52 week low of $46.80 and a 52 week high of $64.19. The company has a market cap of $16.12 billion, a PE ratio of 23.35, a price-to-earnings-growth ratio of 2.83 and a beta of 0.60. The company has a quick ratio of 0.72, a current ratio of 0.86 and a debt-to-equity ratio of 1.33.

Alliant Energy (NASDAQ:LNT) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The business had revenue of $976.00 million during the quarter, compared to the consensus estimate of $1.14 billion. Alliant Energy had a net margin of 17.33% and a return on equity of 11.39%. Equities analysts anticipate that Alliant Energy Co. will post 3.23 earnings per share for the current fiscal year.

Alliant Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st were given a dividend of $0.5075 per share. This is an increase from Alliant Energy’s previous quarterly dividend of $0.48. This represents a $2.03 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date was Friday, January 31st. Alliant Energy’s dividend payout ratio is currently 75.46%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. BMO Capital Markets lowered their target price on Alliant Energy from $65.00 to $61.00 and set a “market perform” rating for the company in a report on Monday, November 4th. Scotiabank cut shares of Alliant Energy from a “sector outperform” rating to a “sector perform” rating and increased their price objective for the stock from $64.00 to $67.00 in a research report on Thursday, December 12th. Wells Fargo & Company decreased their target price on Alliant Energy from $66.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Finally, Barclays cut their price target on Alliant Energy from $61.00 to $59.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 6th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $63.39.

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.