Magellan Asset Management Ltd Sells 605,241 Shares of Alliant Energy Co. (NASDAQ:LNT)

Magellan Asset Management Ltd lowered its holdings in Alliant Energy Co. (NASDAQ:LNT) by 35.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,088,440 shares of the company’s stock after selling 605,241 shares during the quarter. Magellan Asset Management Ltd owned about 0.42% of Alliant Energy worth $64,370,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in Alliant Energy during the fourth quarter worth about $29,000. ORG Partners LLC grew its holdings in Alliant Energy by 517.0% during the fourth quarter. ORG Partners LLC now owns 617 shares of the company’s stock valued at $36,000 after purchasing an additional 517 shares during the period. Larson Financial Group LLC grew its holdings in Alliant Energy by 67.5% during the fourth quarter. Larson Financial Group LLC now owns 722 shares of the company’s stock valued at $43,000 after purchasing an additional 291 shares during the period. WASHINGTON TRUST Co increased its stake in Alliant Energy by 251.2% in the fourth quarter. WASHINGTON TRUST Co now owns 878 shares of the company’s stock valued at $52,000 after purchasing an additional 628 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Alliant Energy in the fourth quarter worth $53,000. Institutional investors own 79.90% of the company’s stock.

Analyst Ratings Changes

LNT has been the subject of several research analyst reports. BMO Capital Markets boosted their price target on shares of Alliant Energy from $60.00 to $66.00 and gave the company a “market perform” rating in a report on Monday, February 24th. UBS Group increased their price target on Alliant Energy from $65.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Guggenheim reiterated a “neutral” rating and set a $57.00 price objective on shares of Alliant Energy in a report on Monday, February 24th. Finally, Scotiabank cut Alliant Energy from a “sector outperform” rating to a “sector perform” rating and increased their target price for the stock from $64.00 to $67.00 in a research note on Thursday, December 12th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Alliant Energy currently has a consensus rating of “Hold” and a consensus price target of $63.55.

Alliant Energy Stock Up 0.1 %

LNT opened at $64.49 on Thursday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.72 and a current ratio of 0.86. The stock has a fifty day moving average of $61.98 and a 200-day moving average of $60.78. Alliant Energy Co. has a fifty-two week low of $47.23 and a fifty-two week high of $66.54. The company has a market capitalization of $16.55 billion, a P/E ratio of 23.97, a P/E/G ratio of 2.83 and a beta of 0.54.

Alliant Energy (NASDAQ:LNT) last announced its earnings results on Thursday, February 20th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.68 by $0.02. The company had revenue of $976.00 million for the quarter, compared to analysts’ expectations of $1.14 billion. Alliant Energy had a net margin of 17.33% and a return on equity of 11.39%. On average, equities analysts expect that Alliant Energy Co. will post 3.23 EPS for the current year.

Alliant Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th will be given a $0.5075 dividend. This represents a $2.03 annualized dividend and a dividend yield of 3.15%. Alliant Energy’s payout ratio is presently 75.46%.

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.