CIBC Asset Management Inc Has $2.69 Million Stock Holdings in Alliant Energy Co. (NASDAQ:LNT)

CIBC Asset Management Inc grew its position in shares of Alliant Energy Co. (NASDAQ:LNT) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,674 shares of the company’s stock after acquiring an additional 1,111 shares during the quarter. CIBC Asset Management Inc’s holdings in Alliant Energy were worth $2,689,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in LNT. Larson Financial Group LLC grew its holdings in shares of Alliant Energy by 7,083.3% in the 3rd quarter. Larson Financial Group LLC now owns 431 shares of the company’s stock valued at $26,000 after acquiring an additional 425 shares in the last quarter. Eastern Bank acquired a new position in Alliant Energy during the third quarter valued at approximately $30,000. JNBA Financial Advisors bought a new position in Alliant Energy in the third quarter valued at approximately $31,000. ORG Partners LLC increased its position in shares of Alliant Energy by 517.0% during the 4th quarter. ORG Partners LLC now owns 617 shares of the company’s stock worth $36,000 after purchasing an additional 517 shares during the last quarter. Finally, WASHINGTON TRUST Co raised its stake in shares of Alliant Energy by 251.2% during the 4th quarter. WASHINGTON TRUST Co now owns 878 shares of the company’s stock worth $52,000 after purchasing an additional 628 shares in the last quarter. 79.90% of the stock is owned by institutional investors.

Alliant Energy Stock Up 1.9 %

Alliant Energy stock opened at $62.81 on Friday. Alliant Energy Co. has a twelve month low of $46.80 and a twelve month high of $64.19. The stock has a market cap of $16.12 billion, a P/E ratio of 24.34, a P/E/G ratio of 2.83 and a beta of 0.60. The company’s 50-day moving average price is $59.44 and its two-hundred day moving average price is $59.65. The company has a quick ratio of 0.72, a current ratio of 0.86 and a debt-to-equity ratio of 1.33.

Alliant Energy (NASDAQ:LNT) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. The business had revenue of $976.00 million during the quarter, compared to analysts’ expectations of $1.14 billion. Alliant Energy had a return on equity of 10.56% and a net margin of 16.66%. As a group, analysts expect that Alliant Energy Co. will post 3.03 EPS for the current year.

Alliant Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 31st were paid a $0.5075 dividend. The ex-dividend date was Friday, January 31st. This is an increase from Alliant Energy’s previous quarterly dividend of $0.48. This represents a $2.03 annualized dividend and a dividend yield of 3.23%. Alliant Energy’s dividend payout ratio is 78.68%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LNT. Scotiabank downgraded shares of Alliant Energy from a “sector outperform” rating to a “sector perform” rating and boosted their target price for the stock from $64.00 to $67.00 in a report on Thursday, December 12th. Barclays lowered their price objective on shares of Alliant Energy from $61.00 to $59.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 6th. BMO Capital Markets cut their target price on shares of Alliant Energy from $65.00 to $61.00 and set a “market perform” rating for the company in a research note on Monday, November 4th. Finally, Wells Fargo & Company lowered their price target on Alliant Energy from $66.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $63.39.

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.