Point72 Asset Management L.P. Trims Stock Holdings in Alliant Energy Co. (NASDAQ:LNT)

Point72 Asset Management L.P. reduced its stake in Alliant Energy Co. (NASDAQ:LNT) by 68.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 504,451 shares of the company’s stock after selling 1,099,821 shares during the quarter. Point72 Asset Management L.P. owned about 0.20% of Alliant Energy worth $29,833,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Park Avenue Securities LLC purchased a new stake in shares of Alliant Energy in the fourth quarter valued at $257,000. SBI Securities Co. Ltd. purchased a new position in Alliant Energy during the fourth quarter worth about $29,000. Strategic Financial Concepts LLC purchased a new position in Alliant Energy during the fourth quarter worth about $213,000. Korea Investment CORP lifted its position in Alliant Energy by 62.1% during the fourth quarter. Korea Investment CORP now owns 190,875 shares of the company’s stock worth $11,288,000 after buying an additional 73,101 shares during the period. Finally, Sound Income Strategies LLC lifted its position in Alliant Energy by 2,024.4% during the fourth quarter. Sound Income Strategies LLC now owns 4,525 shares of the company’s stock worth $268,000 after buying an additional 4,312 shares during the period. 79.90% of the stock is currently owned by hedge funds and other institutional investors.

Alliant Energy Stock Performance

Alliant Energy stock opened at $62.48 on Friday. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.86 and a quick ratio of 0.72. Alliant Energy Co. has a 12 month low of $49.05 and a 12 month high of $66.54. The company has a market cap of $16.05 billion, a price-to-earnings ratio of 23.23, a price-to-earnings-growth ratio of 2.83 and a beta of 0.58. The stock’s 50-day moving average is $61.67 and its 200-day moving average is $60.86.

Alliant Energy (NASDAQ:LNT) last posted its earnings results on Thursday, May 8th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.12. Alliant Energy had a return on equity of 11.39% and a net margin of 17.33%. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the firm earned $0.62 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. Equities analysts anticipate that Alliant Energy Co. will post 3.23 earnings per share for the current year.

Alliant Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were paid a $0.5075 dividend. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $2.03 dividend on an annualized basis and a dividend yield of 3.25%. Alliant Energy’s dividend payout ratio (DPR) is currently 70.00%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. UBS Group increased their target price on Alliant Energy from $65.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. BMO Capital Markets reduced their target price on Alliant Energy from $66.00 to $64.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 22nd. Guggenheim reiterated a “neutral” rating and set a $57.00 target price on shares of Alliant Energy in a research report on Monday, February 24th. Barclays downgraded Alliant Energy from an “equal weight” rating to an “underweight” rating and increased their target price for the stock from $59.00 to $61.00 in a research report on Tuesday, April 22nd. Finally, StockNews.com upgraded Alliant Energy from a “sell” rating to a “hold” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $63.55.

Alliant Energy Company Profile

Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services in the United States. It operates in three segments: Utility Electric Operations, Utility Gas Operations, and Utility 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.