CIBC Private Wealth Group LLC Sells 866 Shares of Alliant Energy Co. (NASDAQ:LNT)

CIBC Private Wealth Group LLC lowered its position in Alliant Energy Co. (NASDAQ:LNT) by 0.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 164,993 shares of the company’s stock after selling 866 shares during the period. CIBC Private Wealth Group LLC’s holdings in Alliant Energy were worth $9,603,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Townsquare Capital LLC bought a new position in Alliant Energy in the 3rd quarter valued at about $274,000. Public Sector Pension Investment Board raised its position in Alliant Energy by 3.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 44,816 shares of the company’s stock valued at $2,720,000 after buying an additional 1,300 shares during the last quarter. PEAK6 Investments LLC bought a new position in Alliant Energy during the 3rd quarter valued at $228,000. Captrust Financial Advisors boosted its holdings in Alliant Energy by 53.5% during the 3rd quarter. Captrust Financial Advisors now owns 12,127 shares of the company’s stock worth $736,000 after acquiring an additional 4,226 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Alliant Energy in the 3rd quarter worth $365,000. Institutional investors and hedge funds own 79.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Guggenheim restated a “neutral” rating and set a $57.00 price target on shares of Alliant Energy in a report on Monday, February 24th. Scotiabank lowered Alliant Energy from a “sector outperform” rating to a “sector perform” rating and upped their target price for the company from $64.00 to $67.00 in a report on Thursday, December 12th. BMO Capital Markets lifted their price target on Alliant Energy from $60.00 to $66.00 and gave the stock a “market perform” rating in a report on Monday, February 24th. Finally, UBS Group upped their price objective on Alliant Energy from $65.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $63.55.

Alliant Energy Stock Performance

NASDAQ:LNT opened at $64.42 on Wednesday. Alliant Energy Co. has a 1 year low of $47.23 and a 1 year high of $66.54. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.86 and a quick ratio of 0.72. The business has a fifty day simple moving average of $61.88 and a two-hundred day simple moving average of $60.75. The company has a market capitalization of $16.54 billion, a P/E ratio of 23.95, a P/E/G ratio of 2.83 and a beta of 0.54.

Alliant Energy (NASDAQ:LNT) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The business had revenue of $976.00 million for 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, analysts expect that Alliant Energy Co. will post 3.23 earnings per share for the current year.

Alliant Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 31st were issued 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 yield of 3.15%. Alliant Energy’s dividend payout ratio (DPR) is 75.46%.

About Alliant Energy

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.