Employees Retirement System of Texas Invests $603,000 in Alliant Energy Corporation (LNT) Stock
Employees Retirement System of Texas purchased a new position in Alliant Energy Corporation (NYSE:LNT) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 15,000 shares of the utilities provider’s stock, valued at approximately $603,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LNT. Mackenzie Financial Corp purchased a new position in Alliant Energy Corporation in the first quarter worth about $570,000. Principal Financial Group Inc. grew its position in Alliant Energy Corporation by 107.3% in the second quarter. Principal Financial Group Inc. now owns 2,224,465 shares of the utilities provider’s stock worth $89,356,000 after acquiring an additional 1,151,182 shares in the last quarter. Vanguard Group Inc. grew its position in Alliant Energy Corporation by 2.5% in the second quarter. Vanguard Group Inc. now owns 23,675,021 shares of the utilities provider’s stock worth $951,025,000 after acquiring an additional 580,804 shares in the last quarter. Morgan Stanley grew its position in Alliant Energy Corporation by 54.0% in the first quarter. Morgan Stanley now owns 1,370,023 shares of the utilities provider’s stock worth $54,268,000 after acquiring an additional 480,352 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in Alliant Energy Corporation by 1,039.9% in the second quarter. Renaissance Technologies LLC now owns 500,400 shares of the utilities provider’s stock worth $20,101,000 after acquiring an additional 456,500 shares in the last quarter. Institutional investors own 66.51% of the company’s stock.
Alliant Energy Corporation (LNT) opened at 43.38 on Thursday. The stock has a market cap of $10.02 billion, a price-to-earnings ratio of 25.61 and a beta of 0.42. The firm’s 50 day moving average price is $42.47 and its 200 day moving average price is $41.17. Alliant Energy Corporation has a 12 month low of $34.88 and a 12 month high of $43.69.
Alliant Energy Corporation (NYSE:LNT) last announced its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.02. The business had revenue of $765.30 million during the quarter, compared to the consensus estimate of $725.92 million. Alliant Energy Corporation had a net margin of 11.85% and a return on equity of 11.43%. The business’s revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.37 EPS. On average, equities research analysts predict that Alliant Energy Corporation will post $2.01 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st will be issued a dividend of $0.315 per share. The ex-dividend date of this dividend is Monday, October 30th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.90%. Alliant Energy Corporation’s dividend payout ratio is currently 74.12%.
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In other news, insider Wayne A. Reschke sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $42.83, for a total transaction of $85,660.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.33% of the stock is owned by company insiders.
LNT has been the subject of several recent research reports. BidaskClub lowered Alliant Energy Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 6th. Jefferies Group LLC reiterated a “hold” rating and issued a $43.00 price target (up previously from $42.00) on shares of Alliant Energy Corporation in a research report on Wednesday, August 9th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $41.25.
Alliant Energy Corporation Company Profile
Alliant Energy Corporation operates as a regulated investor-owned public utility holding company. The Company’s segments include Utility and Non-regulated, Parent and Other. The Utility segment includes the operations of Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL), which serve retail customers in Iowa and Wisconsin.
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