State of Alaska Department of Revenue Has $1.73 Million Holdings in Alliant Energy Co. (NASDAQ:LNT)

State of Alaska Department of Revenue cut its holdings in shares of Alliant Energy Co. (NASDAQ:LNT) by 20.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,263 shares of the company’s stock after selling 7,644 shares during the quarter. State of Alaska Department of Revenue’s holdings in Alliant Energy were worth $1,730,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Point72 Asset Management L.P. grew its stake in Alliant Energy by 92.7% during the third quarter. Point72 Asset Management L.P. now owns 1,604,272 shares of the company’s stock worth $97,363,000 after buying an additional 771,919 shares in the last quarter. Jennison Associates LLC acquired a new stake in shares of Alliant Energy during the 4th quarter worth approximately $32,225,000. Massachusetts Financial Services Co. MA increased its stake in Alliant Energy by 8.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 6,512,770 shares of the company’s stock valued at $395,260,000 after acquiring an additional 512,429 shares during the last quarter. Retirement Systems of Alabama raised its position in Alliant Energy by 698.3% during the third quarter. Retirement Systems of Alabama now owns 451,477 shares of the company’s stock valued at $27,400,000 after purchasing an additional 394,920 shares in the last quarter. Finally, Weiss Asset Management LP bought a new stake in Alliant Energy during the third quarter worth $10,705,000. 79.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LNT has been the topic of several recent analyst reports. Scotiabank lowered Alliant Energy from a “sector outperform” rating to a “sector perform” rating and lifted their price target for the company from $64.00 to $67.00 in a research note on Thursday, December 12th. BMO Capital Markets decreased their target price on Alliant Energy from $65.00 to $61.00 and set a “market perform” rating on the stock in a research report on Monday, November 4th. Barclays dropped their target price on shares of Alliant Energy from $61.00 to $59.00 and set an “equal weight” rating for the company in a report on Wednesday, November 6th. Finally, Wells Fargo & Company decreased their price target on shares of Alliant Energy from $66.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $63.39.

Alliant Energy Stock Performance

Alliant Energy stock opened at $60.31 on Wednesday. The business has a 50 day moving average of $59.37 and a 200-day moving average of $59.37. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.86 and a quick ratio of 0.72. Alliant Energy Co. has a 1 year low of $46.80 and a 1 year high of $64.19. The company has a market capitalization of $15.48 billion, a P/E ratio of 23.38, a P/E/G ratio of 2.73 and a beta of 0.60.

Alliant Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st will be paid a dividend of $0.5075 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $2.03 annualized dividend and a dividend yield of 3.37%. This is an increase from Alliant Energy’s previous quarterly dividend of $0.48. Alliant Energy’s dividend payout ratio (DPR) is presently 78.68%.

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.