Royal Bank of Canada Has $8.22 Million Holdings in Alliant Energy Corporation (LNT)
Royal Bank of Canada reduced its stake in Alliant Energy Corporation (NYSE:LNT) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 204,733 shares of the utilities provider’s stock after selling 4,173 shares during the period. Royal Bank of Canada owned about 0.09% of Alliant Energy Corporation worth $8,223,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in LNT. Mackenzie Financial Corp purchased a new position in Alliant Energy Corporation in the 1st quarter worth approximately $570,000. Principal Financial Group Inc. increased its stake in Alliant Energy Corporation by 107.3% in the 2nd quarter. Principal Financial Group Inc. now owns 2,224,465 shares of the utilities provider’s stock worth $89,356,000 after purchasing an additional 1,151,182 shares during the period. Vanguard Group Inc. increased its stake in Alliant Energy Corporation by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 23,675,021 shares of the utilities provider’s stock worth $951,025,000 after purchasing an additional 580,804 shares during the period. Morgan Stanley increased its stake in Alliant Energy Corporation by 54.0% in the 1st quarter. Morgan Stanley now owns 1,370,023 shares of the utilities provider’s stock worth $54,268,000 after purchasing an additional 480,352 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Alliant Energy Corporation by 1,039.9% in the 2nd quarter. Renaissance Technologies LLC now owns 500,400 shares of the utilities provider’s stock worth $20,101,000 after purchasing an additional 456,500 shares during the period. 66.51% of the stock is currently owned by institutional investors and hedge funds.
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 stock was sold at an average price of $42.83, for a total value of $85,660.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is owned by company insiders.
Alliant Energy Corporation (NYSE:LNT) opened at 43.38 on Thursday. The stock has a market capitalization of $10.02 billion, a PE ratio of 25.61 and a beta of 0.42. Alliant Energy Corporation has a 52 week low of $34.88 and a 52 week high of $43.69. The firm has a 50-day moving average price of $42.47 and a 200-day moving average price of $41.17.
Alliant Energy Corporation (NYSE:LNT) last posted its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.02. The business had revenue of $765.30 million during the quarter, compared to analyst estimates of $725.92 million. Alliant Energy Corporation had a return on equity of 11.43% and a net margin of 11.85%. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period last year, the company earned $0.37 EPS. Equities research analysts predict that Alliant Energy Corporation will post $2.01 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st will be paid a $0.315 dividend. This represents a $1.26 annualized dividend and a dividend yield of 2.90%. The ex-dividend date is Monday, October 30th. Alliant Energy Corporation’s payout ratio is 74.12%.
A number of equities analysts have commented on LNT shares. BidaskClub cut Alliant Energy Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 6th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $43.00 price target (up from $42.00) on shares of Alliant Energy Corporation in a research note on Wednesday, August 9th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Alliant Energy Corporation currently has an average rating of “Hold” and an average target price of $41.25.
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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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