Alliant Energy Co. (LNT) Holdings Increased by Dimensional Fund Advisors LP
Dimensional Fund Advisors LP grew its holdings in Alliant Energy Co. (NYSE:LNT) by 1.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 552,186 shares of the utilities provider’s stock after purchasing an additional 6,274 shares during the period. Dimensional Fund Advisors LP’s holdings in Alliant Energy were worth $22,955,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in LNT. Federated Investors Inc. PA increased its stake in Alliant Energy by 8.2% in the second quarter. Federated Investors Inc. PA now owns 4,288 shares of the utilities provider’s stock worth $172,000 after purchasing an additional 326 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its stake in Alliant Energy by 12.7% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 15,722 shares of the utilities provider’s stock worth $632,000 after purchasing an additional 1,769 shares during the period. Eaton Vance Management increased its stake in Alliant Energy by 33.0% in the second quarter. Eaton Vance Management now owns 10,692 shares of the utilities provider’s stock worth $429,000 after purchasing an additional 2,655 shares during the period. Wells Fargo & Company MN increased its stake in Alliant Energy by 43.9% in the second quarter. Wells Fargo & Company MN now owns 545,960 shares of the utilities provider’s stock worth $21,931,000 after purchasing an additional 166,579 shares during the period. Finally, Teachers Advisors LLC increased its stake in Alliant Energy by 5.4% in the second quarter. Teachers Advisors LLC now owns 309,766 shares of the utilities provider’s stock worth $12,443,000 after purchasing an additional 15,834 shares during the period. Institutional investors and hedge funds own 68.50% of the company’s stock.
LNT has been the topic of a number of recent research reports. Bank of America initiated coverage on Alliant Energy in a research report on Tuesday, October 24th. They set a “neutral” rating and a $45.00 price target on the stock. Zacks Investment Research downgraded Alliant Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, October 24th. Wells Fargo & Co downgraded Alliant Energy from an “outperform” rating to a “market perform” rating in a research report on Monday, December 18th. Finally, Guggenheim reissued a “hold” rating and set a $43.00 price target on shares of Alliant Energy in a research report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $42.17.
Alliant Energy (NYSE:LNT) last posted its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.13). Alliant Energy had a return on equity of 16.50% and a net margin of 18.90%. The firm had revenue of $907.00 million for the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the company posted $0.80 EPS. Alliant Energy’s quarterly revenue was down 1.9% compared to the same quarter last year. research analysts forecast that Alliant Energy Co. will post 1.96 earnings per share for the current fiscal year.
Alliant Energy announced that its Board of Directors has authorized a share repurchase plan on Monday, January 15th that authorizes the company to buyback outstanding shares. This buyback authorization authorizes the utilities provider to buy shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st will be given a dividend of $0.335 per share. This is an increase from Alliant Energy’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.40%. Alliant Energy’s dividend payout ratio is presently 67.74%.
About Alliant Energy
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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