Amundi Pioneer Asset Management Inc. raised its position in shares of Alliant Energy Co. (NYSE:LNT) by 7.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,350,885 shares of the utilities provider’s stock after purchasing an additional 97,873 shares during the quarter. Amundi Pioneer Asset Management Inc. owned 0.57% of Alliant Energy worth $63,668,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc raised its holdings in shares of Alliant Energy by 3.3% during the 3rd quarter. Vanguard Group Inc now owns 25,799,199 shares of the utilities provider’s stock worth $1,098,272,000 after acquiring an additional 833,075 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Alliant Energy by 5.6% during the 4th quarter. BlackRock Inc. now owns 22,875,576 shares of the utilities provider’s stock worth $966,492,000 after acquiring an additional 1,214,401 shares in the last quarter. FMR LLC raised its holdings in shares of Alliant Energy by 1.5% during the 4th quarter. FMR LLC now owns 4,578,375 shares of the utilities provider’s stock worth $193,436,000 after acquiring an additional 69,615 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Alliant Energy by 0.4% during the 4th quarter. Victory Capital Management Inc. now owns 4,300,980 shares of the utilities provider’s stock worth $181,716,000 after acquiring an additional 15,177 shares in the last quarter. Finally, Commonwealth Bank of Australia raised its holdings in shares of Alliant Energy by 11.9% during the 1st quarter. Commonwealth Bank of Australia now owns 3,437,421 shares of the utilities provider’s stock worth $161,990,000 after acquiring an additional 365,590 shares in the last quarter. Institutional investors and hedge funds own 71.12% of the company’s stock.
Several research firms have recently weighed in on LNT. Argus reissued a “buy” rating and set a $52.00 target price on shares of Alliant Energy in a research report on Wednesday, June 5th. Zacks Investment Research downgraded Alliant Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Finally, Bank of America upgraded Alliant Energy from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $50.00 to $54.00 in a research note on Wednesday, June 26th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $48.56.
Alliant Energy (NYSE:LNT) last posted its earnings results on Thursday, May 2nd. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.02. Alliant Energy had a return on equity of 11.69% and a net margin of 15.09%. The company had revenue of $987.20 million during the quarter, compared to analysts’ expectations of $903.85 million. During the same quarter last year, the firm earned $0.52 earnings per share. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. Equities research analysts predict that Alliant Energy Co. will post 2.15 earnings per share for the current year.
In other news, Chairman Patricia L. Kampling sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $46.98, for a total value of $469,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP James H. Gallegos sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $50.00, for a total value of $250,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 30,000 shares of company stock valued at $1,432,800 over the last three months. 0.25% of the stock is currently owned by insiders.
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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