Ameriprise Financial Inc. Grows Holdings in Alliant Energy Corporation (LNT)
Ameriprise Financial Inc. grew its holdings in shares of Alliant Energy Corporation (NYSE:LNT) by 59.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 438,763 shares of the utilities provider’s stock after buying an additional 164,301 shares during the quarter. Ameriprise Financial Inc. owned 0.19% of Alliant Energy Corporation worth $17,631,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in LNT. TIAA CREF Investment Management LLC raised its stake in shares of Alliant Energy Corporation by 3.3% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 504,164 shares of the utilities provider’s stock valued at $20,252,000 after acquiring an additional 15,970 shares during the period. Teachers Advisors LLC lifted its holdings in shares of Alliant Energy Corporation by 5.4% during the 2nd quarter. Teachers Advisors LLC now owns 309,766 shares of the utilities provider’s stock valued at $12,443,000 after acquiring an additional 15,834 shares in the last quarter. Seven Eight Capital LP acquired a new position in shares of Alliant Energy Corporation during the 2nd quarter valued at $530,000. Raymond James Trust N.A. lifted its holdings in shares of Alliant Energy Corporation by 9.7% during the 2nd quarter. Raymond James Trust N.A. now owns 7,130 shares of the utilities provider’s stock valued at $287,000 after acquiring an additional 633 shares in the last quarter. Finally, Stephens Inc. AR lifted its holdings in shares of Alliant Energy Corporation by 5.8% during the 2nd quarter. Stephens Inc. AR now owns 61,355 shares of the utilities provider’s stock valued at $2,465,000 after acquiring an additional 3,340 shares in the last quarter. 66.52% of the stock is owned by institutional investors.
In related news, insider Wayne A. Reschke sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $42.83, for a total value of $85,660.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by company insiders.
Shares of Alliant Energy Corporation (NYSE:LNT) opened at 41.38 on Wednesday. The firm has a 50-day moving average of $42.45 and a 200 day moving average of $40.95. Alliant Energy Corporation has a 12 month low of $34.88 and a 12 month high of $43.69. The firm has a market cap of $9.56 billion, a P/E ratio of 24.43 and a beta of 0.42.
Alliant Energy Corporation (NYSE:LNT) last released its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. The company had revenue of $765.30 million during the quarter, compared to the consensus estimate of $725.92 million. Alliant Energy Corporation had a return on equity of 11.43% and a net margin of 11.85%. The firm’s revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.37 EPS. On average, equities research analysts anticipate that Alliant Energy Corporation will post $2.01 EPS for the current fiscal year.
A number of brokerages recently weighed in on LNT. BidaskClub raised shares of Alliant Energy Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 19th. Jefferies Group LLC reiterated a “hold” rating and issued a $43.00 price target (up from $42.00) on shares of Alliant Energy Corporation in a report on Wednesday, August 9th. Finally, Zacks Investment Research raised Alliant Energy Corporation from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research report on Thursday, June 29th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $42.20.
Alliant Energy Corporation 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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