Wellington Management Group LLP Buys 304,022 Shares of Alliant Energy Co. (NASDAQ:LNT)

Wellington Management Group LLP grew its stake in shares of Alliant Energy Co. (NASDAQ:LNT) by 49.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 919,041 shares of the company’s stock after buying an additional 304,022 shares during the period. Wellington Management Group LLP owned 0.36% of Alliant Energy worth $47,147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northwest Bank & Trust Co bought a new stake in Alliant Energy in the fourth quarter worth $162,000. Creekmur Asset Management LLC bought a new stake in Alliant Energy in the fourth quarter worth $65,000. Goldman Sachs Group Inc. increased its position in Alliant Energy by 103.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,286,941 shares of the company’s stock worth $66,020,000 after purchasing an additional 654,460 shares during the last quarter. Scarborough Advisors LLC bought a new stake in Alliant Energy in the fourth quarter worth $28,000. Finally, EP Wealth Advisors LLC bought a new stake in Alliant Energy in the fourth quarter worth $232,000. Institutional investors own 79.90% of the company’s stock.

Alliant Energy Stock Down 0.1 %

Shares of LNT opened at $50.95 on Monday. The firm has a market capitalization of $13.06 billion, a P/E ratio of 18.53, a P/E/G ratio of 2.72 and a beta of 0.57. Alliant Energy Co. has a 12-month low of $45.15 and a 12-month high of $56.26. The company has a current ratio of 0.56, a quick ratio of 0.40 and a debt-to-equity ratio of 1.25. The firm has a fifty day moving average price of $50.40 and a 200-day moving average price of $49.84.

Alliant Energy (NASDAQ:LNT) last issued its earnings results on Friday, May 3rd. The company reported $0.62 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.62. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.01 billion. Alliant Energy had a net margin of 17.53% and a return on equity of 10.57%. The business’s revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.65 earnings per share. Equities research analysts expect that Alliant Energy Co. will post 3.08 earnings per share for the current year.

Alliant Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th were issued a $0.48 dividend. The ex-dividend date of this dividend was Monday, April 29th. This represents a $1.92 annualized dividend and a dividend yield of 3.77%. Alliant Energy’s payout ratio is currently 69.82%.

Wall Street Analyst Weigh In

LNT has been the subject of several recent analyst reports. LADENBURG THALM/SH SH dropped their price objective on shares of Alliant Energy from $48.50 to $48.00 and set a “neutral” rating for the company in a research note on Monday, April 29th. BMO Capital Markets lifted their price objective on shares of Alliant Energy from $51.00 to $53.00 and gave the stock a “market perform” rating in a research note on Monday, April 15th. Bank of America dropped their price objective on shares of Alliant Energy from $55.00 to $54.00 and set a “buy” rating for the company in a research note on Thursday, April 11th. Wells Fargo & Company lifted their price objective on shares of Alliant Energy from $55.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. Finally, Scotiabank dropped their price objective on shares of Alliant Energy from $57.00 to $53.00 and set a “sector outperform” rating for the company in a research note on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $51.38.

Alliant Energy 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.