Allspring Global Investments Holdings LLC Sells 14,524 Shares of Alliant Energy Co. (NASDAQ:LNT)

Allspring Global Investments Holdings LLC cut its holdings in Alliant Energy Co. (NASDAQ:LNT) by 7.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 173,042 shares of the company’s stock after selling 14,524 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.07% of Alliant Energy worth $10,125,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Larson Financial Group LLC lifted its holdings in shares of Alliant Energy by 7,083.3% during the 3rd quarter. Larson Financial Group LLC now owns 431 shares of the company’s stock valued at $26,000 after buying an additional 425 shares during the period. Northwest Investment Counselors LLC bought a new position in shares of Alliant Energy during the 3rd quarter valued at $28,000. Eastern Bank purchased a new stake in shares of Alliant Energy in the 3rd quarter worth $30,000. JNBA Financial Advisors purchased a new stake in shares of Alliant Energy in the 3rd quarter worth $31,000. Finally, ORG Partners LLC increased its stake in shares of Alliant Energy by 517.0% in the 4th quarter. ORG Partners LLC now owns 617 shares of the company’s stock worth $36,000 after purchasing an additional 517 shares in the last quarter. 79.90% of the stock is owned by institutional investors.

Alliant Energy Stock Up 0.6 %

Shares of NASDAQ:LNT opened at $61.67 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.72 and a debt-to-equity ratio of 1.33. Alliant Energy Co. has a 12 month low of $46.80 and a 12 month high of $64.19. The company has a 50-day moving average price of $59.34 and a 200 day moving average price of $59.57. The company has a market cap of $15.82 billion, a price-to-earnings ratio of 23.90, a PEG ratio of 2.73 and a beta of 0.60.

Alliant Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st were paid a dividend of $0.5075 per share. This represents a $2.03 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend was Friday, January 31st. This is an increase from Alliant Energy’s previous quarterly dividend of $0.48. Alliant Energy’s payout ratio is currently 78.68%.

Analyst Upgrades and Downgrades

LNT has been the subject of several analyst reports. Wells Fargo & Company reduced their price objective on Alliant Energy from $66.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. BMO Capital Markets reduced their price objective on 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. Barclays reduced their price objective on Alliant Energy from $61.00 to $59.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 6th. Finally, Scotiabank lowered Alliant Energy from a “sector outperform” rating to a “sector perform” rating and increased their price target for the stock from $64.00 to $67.00 in a research note on Thursday, December 12th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $63.39.

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.