Symons Capital Management Inc. lowered its stake in shares of Alliant Energy Co. (NYSE:LNT) by 10.5% in the third quarter, Holdings Channel reports. The institutional investor owned 145,812 shares of the utilities provider’s stock after selling 17,155 shares during the quarter. Alliant Energy accounts for approximately 3.6% of Symons Capital Management Inc.’s portfolio, making the stock its 7th biggest position. Symons Capital Management Inc.’s holdings in Alliant Energy were worth $7,864,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Alliant Energy by 4.7% during the second quarter. BlackRock Inc. now owns 21,905,315 shares of the utilities provider’s stock worth $1,075,113,000 after buying an additional 991,604 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Alliant Energy by 6.9% during the second quarter. Victory Capital Management Inc. now owns 4,432,072 shares of the utilities provider’s stock worth $217,527,000 after buying an additional 286,591 shares in the last quarter. Invesco Ltd. grew its position in shares of Alliant Energy by 2.0% during the second quarter. Invesco Ltd. now owns 4,345,287 shares of the utilities provider’s stock worth $213,267,000 after buying an additional 83,476 shares in the last quarter. Citadel Advisors LLC grew its position in shares of Alliant Energy by 12.0% during the second quarter. Citadel Advisors LLC now owns 4,152,208 shares of the utilities provider’s stock worth $203,791,000 after buying an additional 444,342 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its position in shares of Alliant Energy by 1,101.0% during the second quarter. Nuveen Asset Management LLC now owns 2,880,096 shares of the utilities provider’s stock worth $141,356,000 after buying an additional 2,640,288 shares in the last quarter. 71.12% of the stock is owned by institutional investors and hedge funds.
LNT traded up $0.18 during trading hours on Friday, hitting $51.68. 1,522,195 shares of the stock were exchanged, compared to its average volume of 1,316,679. The stock has a 50-day simple moving average of $53.16 and a 200-day simple moving average of $50.53. Alliant Energy Co. has a 12 month low of $40.68 and a 12 month high of $54.59. The stock has a market cap of $12.32 billion, a price-to-earnings ratio of 26.78, a price-to-earnings-growth ratio of 3.28 and a beta of 0.18. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.73 and a quick ratio of 0.59.
Alliant Energy (NYSE:LNT) last announced its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.01. Alliant Energy had a return on equity of 11.69% and a net margin of 15.09%. The firm had revenue of $990.20 million for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the business posted $0.85 earnings per share. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. Sell-side analysts expect that Alliant Energy Co. will post 2.15 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be paid a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 2.75%. The ex-dividend date is Wednesday, October 30th. Alliant Energy’s dividend payout ratio (DPR) is presently 73.58%.
Separately, UBS Group raised their price target on shares of Alliant Energy from $49.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Alliant Energy has a consensus rating of “Hold” and a consensus target price of $50.36.
In related news, SVP James H. Gallegos sold 5,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $52.29, for a total transaction of $261,450.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Leon David A. De acquired 941 shares of Alliant Energy stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average price of $53.15 per share, for a total transaction of $50,014.15. The disclosure for this purchase can be found here. Company insiders own 0.25% of the company’s stock.
About Alliant Energy
Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services in the Midwest region of the United States. It operates through three segments: Electric, Gas, and 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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