Truist Financial Corp Reduces Position in Alliant Energy Co. (NASDAQ:LNT)

Truist Financial Corp lessened its holdings in shares of Alliant Energy Co. (NASDAQ:LNT) by 1.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,631 shares of the company’s stock after selling 381 shares during the period. Truist Financial Corp’s holdings in Alliant Energy were worth $1,508,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Intech Investment Management LLC lifted its holdings in Alliant Energy by 604.0% during the 1st quarter. Intech Investment Management LLC now owns 72,768 shares of the company’s stock worth $3,668,000 after buying an additional 62,431 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Alliant Energy by 200.8% during the first quarter. Cetera Investment Advisers now owns 215,821 shares of the company’s stock worth $10,877,000 after purchasing an additional 144,077 shares during the period. Forsta AP Fonden raised its position in Alliant Energy by 36.3% during the 1st quarter. Forsta AP Fonden now owns 70,600 shares of the company’s stock worth $3,558,000 after buying an additional 18,800 shares during the last quarter. FORA Capital LLC purchased a new position in Alliant Energy during the 1st quarter worth $2,199,000. Finally, Goldman Sachs Group Inc. raised its position in Alliant Energy by 103.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,286,941 shares of the company’s stock worth $66,020,000 after buying an additional 654,460 shares during the last quarter. Institutional investors and hedge funds own 79.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Mizuho upped their price target on shares of Alliant Energy from $52.00 to $61.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. UBS Group upped their target price on shares of Alliant Energy from $64.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Bank of America upped their target price on shares of Alliant Energy from $62.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Jefferies Financial Group initiated coverage on shares of Alliant Energy in a report on Thursday, September 19th. They set a “hold” rating and a $67.00 price objective on the stock. Finally, BMO Capital Markets raised their price target on shares of Alliant Energy from $58.00 to $60.00 and gave the company a “market perform” rating in a report on Tuesday, August 6th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $62.17.

Alliant Energy Trading Up 1.2 %

Shares of LNT opened at $59.67 on Friday. The business’s 50-day moving average price is $58.65 and its 200 day moving average price is $53.83. The stock has a market capitalization of $15.31 billion, a P/E ratio of 24.36, a P/E/G ratio of 2.83 and a beta of 0.58. Alliant Energy Co. has a 1-year low of $46.80 and a 1-year high of $61.09. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.31.

Alliant Energy (NASDAQ:LNT) last released its earnings results on Thursday, August 1st. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.07). The business had revenue of $894.00 million for the quarter, compared to analysts’ expectations of $897.03 million. Alliant Energy had a net margin of 15.77% and a return on equity of 10.23%. The company’s revenue was down 2.0% compared to the same quarter last year. During the same period last year, the firm earned $0.64 EPS. Analysts expect that Alliant Energy Co. will post 3.05 earnings per share for the current year.

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.