Alliant Energy Corp. (LNT) Shares Bought by Magellan Asset Management Ltd
Magellan Asset Management Ltd increased its stake in shares of Alliant Energy Corp. (NYSE:LNT) by 150.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 405,832 shares of the company’s stock after buying an additional 243,954 shares during the period. Magellan Asset Management Ltd owned 0.18% of Alliant Energy Corp. worth $16,112,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in LNT. Calvert Investment Management Inc. boosted its position in Alliant Energy Corp. by 823.6% in the second quarter. Calvert Investment Management Inc. now owns 246,150 shares of the company’s stock valued at $9,772,000 after buying an additional 219,498 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Alliant Energy Corp. by 112.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 614,218 shares of the company’s stock valued at $24,385,000 after buying an additional 324,777 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in Alliant Energy Corp. by 75.9% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 54,202 shares of the company’s stock valued at $2,152,000 after buying an additional 23,380 shares during the period. Wedge Capital Management L L P NC acquired a new position in Alliant Energy Corp. during the second quarter valued at $1,260,000. Finally, Stifel Financial Corp raised its position in Alliant Energy Corp. by 14.6% in the second quarter. Stifel Financial Corp now owns 27,647 shares of the company’s stock valued at $1,098,000 after buying an additional 3,526 shares during the period. 65.75% of the stock is currently owned by hedge funds and other institutional investors.
Alliant Energy Corp. (NYSE:LNT) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.80 EPS for the quarter, missing the Zacks’ consensus estimate of $0.91 by $0.11. Alliant Energy Corp. had a net margin of 10.82% and a return on equity of 10.84%. The firm earned $924.60 million during the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the prior year, the business earned $1.63 EPS. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Monday, October 31st will be given a $0.2938 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Thursday, October 27th. Alliant Energy Corp.’s dividend payout ratio is 77.23%.
LNT has been the subject of several research reports. Argus raised their price objective on shares of Alliant Energy Corp. from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, August 25th. Guggenheim initiated coverage on shares of Alliant Energy Corp. in a research report on Thursday, November 3rd. They set a “neutral” rating for the company. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $38.75.
In other news, Director Deborah B. Dunie purchased 1,350 shares of the company’s stock in a transaction dated Monday, November 7th. The shares were bought at an average price of $37.24 per share, with a total value of $50,274.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.34% of the stock is currently owned by insiders.
Alliant Energy Corp. Company Profile
Alliant Energy Corporation (Alliant Energy) is a regulated investor-owned public utility holding company. The Company provides regulated electric and natural gas services in Iowa and Wisconsin. The Company’s business segments are 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).
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