Retirement Systems of Alabama Has $27.40 Million Position in Alliant Energy Co. (NASDAQ:LNT)

Retirement Systems of Alabama raised its stake in Alliant Energy Co. (NASDAQ:LNT) by 698.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 451,477 shares of the company’s stock after acquiring an additional 394,920 shares during the period. Retirement Systems of Alabama owned approximately 0.18% of Alliant Energy worth $27,400,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Point72 Asset Management L.P. acquired a new position in Alliant Energy in the second quarter valued at about $42,367,000. Eagle Ridge Investment Management bought a new position in shares of Alliant Energy in the 2nd quarter valued at $26,804,000. Massachusetts Financial Services Co. MA boosted its stake in shares of Alliant Energy by 8.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 6,512,770 shares of the company’s stock valued at $395,260,000 after purchasing an additional 512,429 shares in the last quarter. Weiss Asset Management LP acquired a new stake in Alliant Energy during the 3rd quarter worth approximately $10,705,000. Finally, Millennium Management LLC grew its stake in shares of Alliant Energy by 2,141.3% in 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 last quarter. 79.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on LNT. Scotiabank cut Alliant Energy from a “sector outperform” rating to a “sector perform” rating and upped their target price for the company from $64.00 to $67.00 in a report on Thursday. BMO Capital Markets decreased their price target 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. UBS Group lifted their price objective on Alliant Energy from $64.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Barclays cut their target price on Alliant Energy from $61.00 to $59.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company lowered their target price on Alliant Energy from $66.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $63.39.

Alliant Energy Price Performance

Shares of LNT opened at $60.45 on Friday. The business’s fifty day moving average is $60.77 and its 200 day moving average is $57.18. Alliant Energy Co. has a 12-month low of $46.80 and a 12-month high of $64.19. The company has a quick ratio of 0.72, a current ratio of 0.86 and a debt-to-equity ratio of 1.33. The stock has a market cap of $15.51 billion, a P/E ratio of 23.43, a P/E/G ratio of 2.98 and a beta of 0.59.

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

Alliant Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend was Thursday, October 31st. Alliant Energy’s dividend payout ratio (DPR) is presently 74.42%.

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.