Rampart Investment Management Company LLC lessened its stake in shares of Alliant Energy Co. (NYSE:LNT) by 4.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,284 shares of the utilities provider’s stock after selling 837 shares during the quarter. Rampart Investment Management Company LLC’s holdings in Alliant Energy were worth $848,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. BlackRock Inc. boosted its position in Alliant Energy by 4.7% during the 2nd quarter. BlackRock Inc. now owns 21,905,315 shares of the utilities provider’s stock valued at $1,075,113,000 after acquiring an additional 991,604 shares in the last quarter. Commonwealth Bank of Australia boosted its position in Alliant Energy by 11.9% during the 1st quarter. Commonwealth Bank of Australia now owns 3,437,421 shares of the utilities provider’s stock valued at $161,990,000 after acquiring an additional 365,590 shares in the last quarter. Geode Capital Management LLC boosted its position in Alliant Energy by 14.5% during the 4th quarter. Geode Capital Management LLC now owns 3,424,034 shares of the utilities provider’s stock valued at $144,443,000 after acquiring an additional 434,170 shares in the last quarter. Northern Trust Corp boosted its position in Alliant Energy by 2.4% during the 1st quarter. Northern Trust Corp now owns 2,998,890 shares of the utilities provider’s stock valued at $141,338,000 after acquiring an additional 69,116 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Alliant Energy by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,546,834 shares of the utilities provider’s stock worth $124,999,000 after purchasing an additional 21,450 shares in the last quarter. 71.12% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently weighed in on LNT shares. Argus reissued a “buy” rating and issued a $52.00 price objective on shares of Alliant Energy in a research report on Wednesday, June 5th. UBS Group raised their price objective on Alliant Energy from $49.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Finally, Bank of America raised Alliant Energy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $50.00 to $54.00 in a research report on Wednesday, June 26th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $50.36.
Alliant Energy (NYSE:LNT) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.04). The business had revenue of $790.20 million during the quarter, compared to analyst estimates of $828.79 million. Alliant Energy had a return on equity of 11.69% and a net margin of 15.09%. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.43 EPS. As a group, analysts anticipate that Alliant Energy Co. will post 2.15 earnings per share for the current year.
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 value of $261,450.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Leon David A. De bought 941 shares of Alliant Energy stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average price of $53.15 per share, with a total value of $50,014.15. The disclosure for this purchase can be found here. 0.25% of the stock is owned by company insiders.
Alliant Energy Profile
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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