Symons Capital Management Inc. trimmed its holdings in shares of Alliant Energy Co. (NYSE:LNT) by 63.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 173,598 shares of the utilities provider’s stock after selling 306,094 shares during the period. Alliant Energy accounts for about 2.1% of Symons Capital Management Inc.’s investment portfolio, making the stock its 28th biggest holding. Symons Capital Management Inc. owned approximately 0.08% of Alliant Energy worth $7,397,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its holdings in Alliant Energy by 1.6% during the second quarter. Dimensional Fund Advisors LP now owns 545,912 shares of the utilities provider’s stock worth $21,931,000 after purchasing an additional 8,609 shares during the last quarter. Mutual of America Capital Management LLC lifted its stake in Alliant Energy by 9.6% in the third quarter. Mutual of America Capital Management LLC now owns 30,458 shares of the utilities provider’s stock valued at $1,266,000 after acquiring an additional 2,660 shares during the last quarter. Nationwide Fund Advisors lifted its stake in Alliant Energy by 7.4% in the third quarter. Nationwide Fund Advisors now owns 182,881 shares of the utilities provider’s stock valued at $7,602,000 after acquiring an additional 12,600 shares during the last quarter. Aperio Group LLC raised its position in shares of Alliant Energy by 13.6% in the third quarter. Aperio Group LLC now owns 83,143 shares of the utilities provider’s stock valued at $3,456,000 after purchasing an additional 9,958 shares during the period. Finally, First Midwest Bank Trust Division raised its position in shares of Alliant Energy by 4.6% in the third quarter. First Midwest Bank Trust Division now owns 27,187 shares of the utilities provider’s stock valued at $1,130,000 after purchasing an additional 1,190 shares during the period. 69.92% of the stock is owned by institutional investors and hedge funds.
LNT has been the topic of a number of recent research reports. Guggenheim reaffirmed a “hold” rating and set a $43.00 price target on shares of Alliant Energy in a research report on Wednesday, January 3rd. Wells Fargo & Co downgraded shares of Alliant Energy from an “outperform” rating to a “market perform” rating in a research note on Monday, December 18th. Zacks Investment Research upgraded shares of Alliant Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, February 28th. Finally, UBS Group assumed coverage on shares of Alliant Energy in a report on Friday, February 2nd. They set a “neutral” rating and a $40.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $42.83.
Alliant Energy (NYSE:LNT) last announced its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.03). The company had revenue of $856.10 million for the quarter, compared to the consensus estimate of $896.94 million. Alliant Energy had a net margin of 13.82% and a return on equity of 11.11%. The company’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.28 earnings per share. sell-side analysts anticipate that Alliant Energy Co. will post 2.11 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st were paid a $0.335 dividend. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $1.34 annualized dividend and a yield of 3.41%. This is a positive change from Alliant Energy’s previous quarterly dividend of $0.32. Alliant Energy’s dividend payout ratio is currently 67.34%.
Alliant Energy announced that its board has authorized a share repurchase plan on Monday, January 15th that authorizes the company to buyback shares. This buyback authorization authorizes the utilities provider to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.
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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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