Alliant Energy Co. (NASDAQ:LNT) Stock Position Reduced by Truist Financial Corp

Truist Financial Corp cut its stake in shares of Alliant Energy Co. (NASDAQ:LNT) by 2.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,585 shares of the company’s stock after selling 797 shares during the period. Truist Financial Corp’s holdings in Alliant Energy were worth $1,809,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Larson Financial Group LLC grew its position in Alliant Energy by 7,083.3% in the third quarter. Larson Financial Group LLC now owns 431 shares of the company’s stock worth $26,000 after acquiring an additional 425 shares in the last quarter. JNBA Financial Advisors bought a new stake in Alliant Energy in the third quarter worth approximately $31,000. ORG Partners LLC grew its position in Alliant Energy by 517.0% in the fourth quarter. ORG Partners LLC now owns 617 shares of the company’s stock worth $36,000 after acquiring an additional 517 shares in the last quarter. WASHINGTON TRUST Co grew its position in Alliant Energy by 251.2% in the fourth quarter. WASHINGTON TRUST Co now owns 878 shares of the company’s stock worth $52,000 after acquiring an additional 628 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in Alliant Energy in the fourth quarter worth approximately $53,000. 79.90% of the stock is owned by hedge funds and other institutional investors.

Alliant Energy Trading Up 0.4 %

Shares of LNT stock opened at $63.98 on Thursday. Alliant Energy Co. has a 12-month low of $46.80 and a 12-month high of $64.19. The company has a market capitalization of $16.42 billion, a P/E ratio of 23.78, a P/E/G ratio of 2.83 and a beta of 0.60. The firm has a 50-day moving average price of $59.72 and a 200 day moving average price of $59.85. The company has a quick ratio of 0.72, a current ratio of 0.86 and a debt-to-equity ratio of 1.33.

Alliant Energy (NASDAQ:LNT) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.02. Alliant Energy had a net margin of 17.33% and a return on equity of 11.39%. The firm had revenue of $976.00 million during the quarter, compared to the consensus estimate of $1.14 billion. Research analysts forecast that Alliant Energy Co. will post 3.23 earnings per share for the current fiscal year.

Alliant Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 31st were given a $0.5075 dividend. This represents a $2.03 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend was Friday, January 31st. This is a boost from Alliant Energy’s previous quarterly dividend of $0.48. Alliant Energy’s dividend payout ratio (DPR) is presently 75.46%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Wells Fargo & Company decreased their target price on shares of Alliant Energy from $66.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Guggenheim reaffirmed a “neutral” rating and set a $57.00 price objective on shares of Alliant Energy in a report on Monday. Scotiabank downgraded shares of Alliant Energy from a “sector outperform” rating to a “sector perform” rating and upped their price objective for the stock from $64.00 to $67.00 in a report on Thursday, December 12th. BMO Capital Markets upped their price objective on shares of Alliant Energy from $60.00 to $66.00 and gave the stock a “market perform” rating in a report on Monday. Finally, Barclays decreased their price objective 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. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $63.25.

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.