The Manufacturers Life Insurance Company lowered its position in Alliant Energy Co. (NYSE:LNT) by 9.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,328,742 shares of the utilities provider’s stock after selling 134,641 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.57% of Alliant Energy worth $56,619,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also made changes to their positions in the stock. Wells Fargo & Company MN grew its stake in shares of Alliant Energy by 43.6% in the fourth quarter. Wells Fargo & Company MN now owns 410,859 shares of the utilities provider’s stock valued at $17,507,000 after buying an additional 124,809 shares in the last quarter. Forsta AP Fonden lifted its holdings in shares of Alliant Energy by 19.1% in the 4th quarter. Forsta AP Fonden now owns 91,200 shares of the utilities provider’s stock worth $3,886,000 after purchasing an additional 14,600 shares during the last quarter. Ffcm LLC lifted its holdings in shares of Alliant Energy by 23.3% in the 4th quarter. Ffcm LLC now owns 11,517 shares of the utilities provider’s stock worth $491,000 after purchasing an additional 2,178 shares during the last quarter. LS Investment Advisors LLC grew its holdings in shares of Alliant Energy by 164.3% in the 4th quarter. LS Investment Advisors LLC now owns 36,595 shares of the utilities provider’s stock worth $1,559,000 after acquiring an additional 22,747 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its holdings in shares of Alliant Energy by 7.7% in the 4th quarter. Oppenheimer & Co. Inc. now owns 60,960 shares of the utilities provider’s stock worth $2,598,000 after acquiring an additional 4,347 shares during the last quarter. 69.92% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have weighed in on LNT. Zacks Investment Research cut Alliant Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, January 24th. Wells Fargo & Co reiterated a “market perform” rating and issued a $43.00 price objective (down from $47.00) on shares of Alliant Energy in a research note on Monday, February 26th. UBS Group started coverage on Alliant Energy in a research report on Friday, February 2nd. They set a “neutral” rating and a $40.00 price target on the stock. Finally, Guggenheim reaffirmed a “hold” rating and set a $43.00 price objective on shares of Alliant Energy in a report on Wednesday, January 3rd. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $42.83.
Alliant Energy (NYSE:LNT) last issued its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). Alliant Energy had a return on equity of 11.11% and a net margin of 13.82%. The business had revenue of $856.10 million during the quarter, compared to the consensus estimate of $896.94 million. During the same period in the prior year, the firm earned $0.28 EPS. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. analysts predict that Alliant Energy Co. will post 2.11 EPS for the current year.
Alliant Energy declared that its board has authorized a share buyback plan on Monday, January 15th that authorizes the company to buyback shares. This buyback authorization authorizes the utilities provider to repurchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st were given a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a yield of 3.41%. This is an increase from Alliant Energy’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Tuesday, January 30th. Alliant Energy’s dividend payout ratio is presently 67.34%.
About Alliant Energy
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.
Receive News & Ratings for Alliant Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alliant Energy and related companies with MarketBeat.com's FREE daily email newsletter.