Eaton Vance Management Has $315,000 Position in Alliant Energy Corp. (LNT)
Eaton Vance Management increased its stake in shares of Alliant Energy Corp. (NYSE:LNT) by 100.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,922 shares of the company’s stock after buying an additional 3,961 shares during the period. Eaton Vance Management’s holdings in Alliant Energy Corp. were worth $315,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in LNT. Smithfield Trust Co. increased its stake in Alliant Energy Corp. by 100.0% in the second quarter. Smithfield Trust Co. now owns 2,900 shares of the company’s stock worth $115,000 after buying an additional 1,450 shares during the period. Arrow Financial Corp increased its stake in Alliant Energy Corp. by 100.0% in the second quarter. Arrow Financial Corp now owns 3,660 shares of the company’s stock worth $145,000 after buying an additional 1,830 shares during the period. Community Bank N.A. increased its stake in Alliant Energy Corp. by 100.0% in the second quarter. Community Bank N.A. now owns 4,230 shares of the company’s stock worth $168,000 after buying an additional 2,115 shares during the period. JNBA Financial Advisors acquired a new stake in Alliant Energy Corp. during the second quarter worth $187,000. Finally, Duncker Streett & Co. Inc. increased its stake in Alliant Energy Corp. by 100.0% in the second quarter. Duncker Streett & Co. Inc. now owns 4,800 shares of the company’s stock worth $191,000 after buying an additional 2,400 shares during the period. Institutional investors own 65.60% of the company’s stock.
Alliant Energy Corp. (NYSE:LNT) traded down 1.42% during trading on Friday, hitting $38.31. The stock had a trading volume of 2,031,936 shares. The firm’s 50-day moving average price is $38.68 and its 200-day moving average price is $38.01. The stock has a market cap of $8.71 billion, a PE ratio of 22.03 and a beta of 0.44. Alliant Energy Corp. has a 1-year low of $28.07 and a 1-year high of $40.99.
Alliant Energy Corp. (NYSE:LNT) last announced its quarterly earnings results on Monday, August 1st. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by $0.01. The company had revenue of $754.60 million for the quarter, compared to analyst estimates of $593.06 million. Alliant Energy Corp. had a return on equity of 11.02% and a net margin of 12.50%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 earnings per share. On average, equities research analysts predict that Alliant Energy Corp. will post $1.89 earnings per share for the current fiscal year.
LNT has been the topic of a number of analyst reports. Argus restated a “buy” rating on shares of Alliant Energy Corp. in a research note on Saturday, June 4th. Zacks Investment Research raised Alliant Energy Corp. from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a report on Monday, July 11th. Finally, Barclays PLC cut Alliant Energy Corp. from an “overweight” rating to an “equal weight” rating and set a $39.00 price objective for the company. in a report on Friday, June 10th. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $38.75.
In related news, SVP James H. Gallegos sold 5,000 shares of the stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $40.29, for a total value of $201,450.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is owned by corporate insiders.
Alliant Energy Corp. Company Profile
Alliant Energy Corporation (Alliant Energy) is a regulated investor-owned public utility holding company. The Company provides regulated electric and natural gas services in Iowa and Wisconsin. The Company’s business segments are 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).
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