Heritage Wealth Management LLC lifted its stake in Alliant Energy Co. (NASDAQ:LNT) by 87.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 800 shares of the company’s stock after buying an additional 373 shares during the quarter. Heritage Wealth Management LLC’s holdings in Alliant Energy were worth $45,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. boosted its position in Alliant Energy by 21.6% during the second quarter. BlackRock Inc. now owns 25,753,609 shares of the company’s stock worth $1,436,021,000 after purchasing an additional 4,575,097 shares in the last quarter. Janus Henderson Group PLC boosted its position in Alliant Energy by 1.6% during the first quarter. Janus Henderson Group PLC now owns 8,605,399 shares of the company’s stock worth $466,069,000 after purchasing an additional 131,656 shares in the last quarter. Nuveen Asset Management LLC boosted its position in Alliant Energy by 65.9% during the first quarter. Nuveen Asset Management LLC now owns 5,861,230 shares of the company’s stock worth $317,443,000 after purchasing an additional 2,328,791 shares in the last quarter. Victory Capital Management Inc. boosted its position in Alliant Energy by 6.7% during the second quarter. Victory Capital Management Inc. now owns 5,491,373 shares of the company’s stock worth $306,198,000 after purchasing an additional 345,860 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Alliant Energy by 2.5% during the first quarter. Geode Capital Management LLC now owns 4,561,491 shares of the company’s stock worth $246,429,000 after purchasing an additional 111,863 shares in the last quarter. Hedge funds and other institutional investors own 75.93% of the company’s stock.
LNT has been the topic of a number of recent analyst reports. Guggenheim downgraded Alliant Energy from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 7th. Argus increased their target price on Alliant Energy from $56.00 to $64.00 and gave the company a “buy” rating in a report on Friday, June 11th. Wells Fargo & Company cut Alliant Energy from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $61.56 to $66.00 in a report on Tuesday, August 17th. Scotiabank cut Alliant Energy from a “sector outperform” rating to a “sector perform” rating in a report on Tuesday, July 6th. They noted that the move was a valuation call. Finally, Bank of America cut Alliant Energy from a “buy” rating to a “neutral” rating and reduced their target price for the company from $60.89 to $58.00 in a report on Thursday, July 8th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $60.00.
Alliant Energy (NASDAQ:LNT) last issued its quarterly earnings data on Wednesday, August 4th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.01. The company had revenue of $817.00 million during the quarter. Alliant Energy had a return on equity of 10.72% and a net margin of 18.38%. During the same quarter in the previous year, the company posted $0.54 earnings per share. Analysts forecast that Alliant Energy Co. will post 2.59 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, August 16th. Stockholders of record on Friday, July 30th were given a dividend of $0.4025 per share. The ex-dividend date was Thursday, July 29th. This represents a $1.61 annualized dividend and a dividend yield of 2.82%. Alliant Energy’s dividend payout ratio is currently 66.26%.
Alliant Energy Profile
Alliant Energy Corp. is a regulated investor-owned public utility holding company that engages in the provision of regulated electricity and natural gas service to natural gas customers in the Midwest through its two public utility subsidiaries. It operates its business through following segments: utility electric operations, utility gas operations; and utility other.
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