Rhumbline Advisers Reduces Stake in Alliant Energy Co. (LNT)
Rhumbline Advisers lessened its position in Alliant Energy Co. (NYSE:LNT) by 3.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 466,053 shares of the utilities provider’s stock after selling 16,939 shares during the period. Rhumbline Advisers’ holdings in Alliant Energy were worth $19,723,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. SVA Plumb Wealth Management LLC raised its stake in shares of Alliant Energy by 15.0% in the 1st quarter. SVA Plumb Wealth Management LLC now owns 10,699 shares of the utilities provider’s stock worth $445,000 after buying an additional 1,397 shares in the last quarter. Spectrum Management Group Inc. grew its holdings in shares of Alliant Energy by 7.5% in the 2nd quarter. Spectrum Management Group Inc. now owns 20,340 shares of the utilities provider’s stock worth $861,000 after acquiring an additional 1,420 shares during the last quarter. First Midwest Bank Trust Division grew its holdings in shares of Alliant Energy by 9.6% in the 2nd quarter. First Midwest Bank Trust Division now owns 20,757 shares of the utilities provider’s stock worth $879,000 after acquiring an additional 1,820 shares during the last quarter. Aperio Group LLC grew its holdings in shares of Alliant Energy by 2.1% in the 1st quarter. Aperio Group LLC now owns 88,455 shares of the utilities provider’s stock worth $3,614,000 after acquiring an additional 1,823 shares during the last quarter. Finally, Hanson & Doremus Investment Management grew its holdings in shares of Alliant Energy by 9.7% in the 1st quarter. Hanson & Doremus Investment Management now owns 20,740 shares of the utilities provider’s stock worth $847,000 after acquiring an additional 1,826 shares during the last quarter. 71.56% of the stock is currently owned by institutional investors.
Shares of NYSE LNT opened at $43.59 on Friday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.64. The firm has a market capitalization of $9.99 billion, a P/E ratio of 22.59, a P/E/G ratio of 3.65 and a beta of 0.29. Alliant Energy Co. has a 52-week low of $36.84 and a 52-week high of $45.55.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 15th. Stockholders of record on Tuesday, July 31st were issued a dividend of $0.335 per share. The ex-dividend date of this dividend was Monday, July 30th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.07%. Alliant Energy’s dividend payout ratio is 69.43%.
A number of equities analysts recently issued reports on the company. ValuEngine cut Alliant Energy from a “buy” rating to a “hold” rating in a report on Tuesday, May 8th. Zacks Investment Research upgraded Alliant Energy from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a report on Monday, May 28th. UBS Group lifted their target price on Alliant Energy from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, August 10th. Howard Weil assumed coverage on Alliant Energy in a report on Tuesday, July 24th. They issued a “sector perform” rating and a $44.00 target price on the stock. Finally, Wolfe Research cut Alliant Energy from a “peer perform” rating to an “underperform” rating in a report on Monday, August 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $44.67.
Alliant Energy Company 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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