Amalgamated Bank Sells 999 Shares of Alliant Energy Co. (NASDAQ:LNT)

Amalgamated Bank cut its position in shares of Alliant Energy Co. (NASDAQ:LNT) by 2.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 49,387 shares of the company’s stock after selling 999 shares during the period. Amalgamated Bank’s holdings in Alliant Energy were worth $2,921,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Natixis Advisors LLC lifted its position in Alliant Energy by 14.7% during the 3rd quarter. Natixis Advisors LLC now owns 196,318 shares of the company’s stock worth $11,915,000 after buying an additional 25,161 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Alliant Energy during the third quarter worth about $4,742,000. Principal Financial Group Inc. raised its holdings in Alliant Energy by 9.4% during the third quarter. Principal Financial Group Inc. now owns 1,183,765 shares of the company’s stock worth $71,839,000 after acquiring an additional 101,387 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Alliant Energy by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,216,475 shares of the company’s stock valued at $134,518,000 after purchasing an additional 14,225 shares during the last quarter. Finally, Park Avenue Securities LLC bought a new position in Alliant Energy in the fourth quarter valued at approximately $257,000. Institutional investors and hedge funds own 79.90% of the company’s stock.

Wall Street Analyst Weigh In

LNT has been the topic of a number of analyst reports. BMO Capital Markets upped their price objective on Alliant Energy from $60.00 to $66.00 and gave the stock a “market perform” rating in a research note on Monday, February 24th. Scotiabank lowered shares of Alliant Energy from a “sector outperform” rating to a “sector perform” rating and upped their price target for the stock from $64.00 to $67.00 in a research report on Thursday, December 12th. Guggenheim reissued a “neutral” rating and issued a $57.00 price objective on shares of Alliant Energy in a research report on Monday, February 24th. 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. Finally, Wells Fargo & Company cut their target price on shares of Alliant Energy from $66.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $63.25.

Alliant Energy Stock Performance

Shares of LNT stock opened at $64.53 on Friday. Alliant Energy Co. has a 52 week low of $46.80 and a 52 week high of $64.76. The company has a market capitalization of $16.57 billion, a price-to-earnings ratio of 23.99, a PEG ratio of 2.83 and a beta of 0.60. The company has a 50-day simple moving average of $59.94 and a 200 day simple moving average of $59.96. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.72 and a current ratio of 0.86.

Alliant Energy (NASDAQ:LNT) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The company 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 11.39% and a net margin of 17.33%. On average, sell-side analysts predict that Alliant Energy Co. will post 3.23 earnings per share for the current year.

Alliant Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 31st were given a dividend of $0.5075 per share. This is a boost from Alliant Energy’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.03 annualized dividend and a yield of 3.15%. Alliant Energy’s dividend payout ratio (DPR) is presently 75.46%.

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.