Alliant Energy Co. (LNT) Shares Bought by American International Group Inc.
American International Group Inc. grew its stake in Alliant Energy Co. (NYSE:LNT) by 7.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,612 shares of the utilities provider’s stock after purchasing an additional 6,130 shares during the period. American International Group Inc.’s holdings in Alliant Energy were worth $3,602,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Piedmont Investment Advisors LLC purchased a new position in Alliant Energy in the second quarter valued at $115,000. Aperio Group LLC boosted its holdings in Alliant Energy by 19.1% in the second quarter. Aperio Group LLC now owns 105,347 shares of the utilities provider’s stock valued at $4,458,000 after purchasing an additional 16,892 shares during the period. Commonwealth Equity Services LLC boosted its holdings in Alliant Energy by 4.8% in the second quarter. Commonwealth Equity Services LLC now owns 68,679 shares of the utilities provider’s stock valued at $2,906,000 after purchasing an additional 3,119 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Alliant Energy by 2.1% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 713,329 shares of the utilities provider’s stock valued at $30,188,000 after purchasing an additional 14,781 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in Alliant Energy by 7.6% in the second quarter. Wells Fargo & Company MN now owns 377,144 shares of the utilities provider’s stock valued at $15,961,000 after purchasing an additional 26,528 shares during the period. Institutional investors own 71.43% of the company’s stock.
In other Alliant Energy news, Director Deborah B. Dunie purchased 1,250 shares of the business’s stock in a transaction on Thursday, September 13th. The shares were bought at an average cost of $43.80 per share, for a total transaction of $54,750.00. Following the completion of the purchase, the director now directly owns 12,300 shares in the company, valued at $538,740. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.25% of the stock is owned by company insiders.
Alliant Energy (NYSE:LNT) last posted its quarterly earnings results on Tuesday, November 6th. The utilities provider reported $0.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.01. Alliant Energy had a return on equity of 11.69% and a net margin of 15.09%. The company had revenue of $928.60 million for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period last year, the firm earned $0.75 earnings per share. Alliant Energy’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, analysts anticipate that Alliant Energy Co. will post 2.15 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Wednesday, October 31st were paid a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date was Tuesday, October 30th. Alliant Energy’s dividend payout ratio is presently 69.43%.
A number of research firms recently issued reports on LNT. Mizuho began coverage on Alliant Energy in a report on Monday, October 8th. They issued a “neutral” rating and a $44.00 target price for the company. ValuEngine upgraded Alliant Energy from a “hold” rating to a “buy” rating in a report on Thursday, October 11th. Bank of America lowered Alliant Energy from a “neutral” rating to an “underperform” rating in a report on Wednesday, November 21st. Wells Fargo & Co lifted their target price on Alliant Energy from $47.00 to $48.00 and gave the company a “market perform” rating in a report on Thursday, November 8th. Finally, Wolfe Research cut Alliant Energy from a “peer perform” rating to an “underperform” rating in a research note on Monday, August 13th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $45.42.
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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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