Pictet Asset Management Holding SA Purchases 273,392 Shares of Alliant Energy Corporation $LNT

Pictet Asset Management Holding SA lifted its position in Alliant Energy Corporation (NASDAQ:LNT) by 8.2% in the third quarter, HoldingsChannel.com reports. The firm owned 3,608,498 shares of the company’s stock after purchasing an additional 273,392 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Alliant Energy were worth $228,418,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tema ETFs LLC raised its position in shares of Alliant Energy by 6.6% during the 2nd quarter. Tema ETFs LLC now owns 2,336 shares of the company’s stock valued at $178,000 after purchasing an additional 145 shares during the period. Parkside Financial Bank & Trust lifted its stake in shares of Alliant Energy by 25.9% during the 2nd quarter. Parkside Financial Bank & Trust now owns 840 shares of the company’s stock valued at $64,000 after buying an additional 173 shares in the last quarter. Westpac Banking Corp boosted its holdings in Alliant Energy by 0.9% in the 1st quarter. Westpac Banking Corp now owns 20,797 shares of the company’s stock worth $1,492,000 after buying an additional 187 shares during the period. Great Waters Wealth Management boosted its holdings in Alliant Energy by 5.8% in the 2nd quarter. Great Waters Wealth Management now owns 3,647 shares of the company’s stock worth $278,000 after buying an additional 200 shares during the period. Finally, Annex Advisory Services LLC boosted its holdings in Alliant Energy by 2.2% in the 2nd quarter. Annex Advisory Services LLC now owns 10,112 shares of the company’s stock worth $771,000 after buying an additional 215 shares during the period. 79.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. HSBC assumed coverage on Alliant Energy in a research note on Thursday, October 22nd. They issued a “hold” rating and a $69.50 price target for the company. BMO Capital Markets restated an “outperform” rating and issued a $75.00 price objective on shares of Alliant Energy in a research report on Wednesday, October 14th. Wall Street Zen raised Alliant Energy from a “strong sell” rating to a “sell” rating in a research note on Sunday. Jefferies Financial Group reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Alliant Energy in a research note on Monday, October 12th. Finally, Barclays set a $68.00 target price on Alliant Energy and gave the stock an “equal weight” rating in a research report on Tuesday, October 13th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $75.23.

Alliant Energy Trading Down 1.0%

Alliant Energy stock opened at $72.67 on Friday. The stock has a market cap of $18.85 billion, a P/E ratio of 20.24, a PEG ratio of 3.06 and a beta of 0.51. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.51 and a quick ratio of 0.35. Alliant Energy Corporation has a 1 year low of $62.54 and a 1 year high of $78.81. The firm’s 50 day moving average price is $67.43 and its 200-day moving average price is $70.63.

Alliant Energy (NASDAQ:LNT) last released its earnings results on Thursday, October 29th. The company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.31 by $0.21. Alliant Energy had a net margin of 20.74% and a return on equity of 12.43%. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the firm earned $1.12 earnings per share. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, equities analysts predict that Alliant Energy Corporation will post 3.43 earnings per share for the current fiscal year.

Alliant Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Friday, October 30th will be issued a $0.5350 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Friday, October 30th. Alliant Energy’s payout ratio is currently 59.61%.

Alliant Energy Profile

Alliant Energy Corporation is a regulated utility holding company that provides electric and natural gas services through its subsidiaries, Interstate Power and Light Company and Wisconsin Power and Light Company. Its service territory includes communities across Iowa and Wisconsin.

The company’s operations include generating, transmitting and distributing electricity, as well as distributing natural gas. Its energy portfolio includes a mix of resources, including wind and solar power, natural gas and other generation sources.

Alliant Energy traces its roots to utility businesses that served the Midwest in the early 20th century.