M&T Bank Corp Sells 15,698 Shares of Alliant Energy Corporation $LNT

M&T Bank Corp cut its stake in Alliant Energy Corporation (NASDAQ:LNT) by 31.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 34,078 shares of the company’s stock after selling 15,698 shares during the period. M&T Bank Corp’s holdings in Alliant Energy were worth $2,215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Measured Wealth Private Client Group LLC bought a new position in shares of Alliant Energy in the third quarter valued at about $27,000. MRP Capital Investments LLC bought a new position in shares of Alliant Energy in the third quarter valued at about $35,000. Hantz Financial Services Inc. grew its stake in shares of Alliant Energy by 256.7% in the third quarter. Hantz Financial Services Inc. now owns 560 shares of the company’s stock valued at $38,000 after acquiring an additional 403 shares in the last quarter. Sentry Investment Management LLC acquired a new position in shares of Alliant Energy in the third quarter valued at about $44,000. Finally, MUFG Securities EMEA plc acquired a new position in shares of Alliant Energy in the second quarter valued at about $46,000. 79.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LNT has been the topic of several research reports. BMO Capital Markets restated an “outperform” rating and issued a $79.00 price target (up from $78.00) on shares of Alliant Energy in a research note on Friday, April 17th. Wall Street Zen downgraded shares of Alliant Energy from a “sell” rating to a “strong sell” rating in a research note on Saturday. Barclays set a $74.00 price target on shares of Alliant Energy and gave the company an “equal weight” rating in a research note on Wednesday, April 15th. Wells Fargo & Company restated an “overweight” rating and issued a $76.00 price target on shares of Alliant Energy in a research note on Tuesday, April 21st. Finally, HSBC upgraded shares of Alliant Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, January 21st. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.44.

Alliant Energy Stock Up 0.1%

LNT stock opened at $72.46 on Wednesday. The stock has a market capitalization of $18.71 billion, a P/E ratio of 23.00, a price-to-earnings-growth ratio of 2.96 and a beta of 0.61. The company has a current ratio of 0.80, a quick ratio of 0.66 and a debt-to-equity ratio of 1.49. The firm has a 50-day moving average price of $71.73 and a 200-day moving average price of $68.63. Alliant Energy Corporation has a 12 month low of $58.97 and a 12 month high of $74.40.

Alliant Energy (NASDAQ:LNT) last released its quarterly earnings data on Friday, February 20th. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $673.11 million. Alliant Energy had a net margin of 18.57% and a return on equity of 11.51%. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.70 EPS. As a group, equities research analysts anticipate that Alliant Energy Corporation will post 3.42 EPS for the current fiscal year.

Alliant Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Thursday, April 30th will be paid a $0.535 dividend. The ex-dividend date of this dividend is Thursday, April 30th. This represents a $2.14 annualized dividend and a yield of 3.0%. Alliant Energy’s dividend payout ratio is presently 67.94%.

Alliant Energy Company Profile

Alliant Energy Corporation (NASDAQ: LNT) is a publicly traded energy holding company headquartered in Madison, Wisconsin, that provides regulated electric and natural gas utility services in the American Midwest. The company serves customers primarily in Wisconsin and Iowa through its regulated utility subsidiaries and operates as an integrated provider responsible for generation, transmission and distribution of energy to residential, commercial and industrial customers.

Alliant Energy’s core activities include operating and maintaining electric generation assets, managing the regional transmission and distribution network, and delivering natural gas service to its franchise territories.