Alliant Energy Co. (LNT) Shares Sold by Citadel Advisors LLC
Citadel Advisors LLC reduced its position in Alliant Energy Co. (NYSE:LNT) by 98.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,139 shares of the utilities provider’s stock after selling 488,452 shares during the period. Citadel Advisors LLC’s holdings in Alliant Energy were worth $432,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in LNT. Boston Partners increased its position in Alliant Energy by 24.7% during the fourth quarter. Boston Partners now owns 6,853,230 shares of the utilities provider’s stock worth $292,016,000 after buying an additional 1,356,046 shares in the last quarter. BlackRock Inc. increased its position in Alliant Energy by 3.3% during the fourth quarter. BlackRock Inc. now owns 18,971,645 shares of the utilities provider’s stock worth $808,383,000 after buying an additional 611,677 shares in the last quarter. Schroder Investment Management Group increased its position in Alliant Energy by 45.2% during the fourth quarter. Schroder Investment Management Group now owns 1,682,521 shares of the utilities provider’s stock worth $71,692,000 after buying an additional 523,476 shares in the last quarter. Victory Capital Management Inc. increased its position in Alliant Energy by 8.2% during the fourth quarter. Victory Capital Management Inc. now owns 3,816,152 shares of the utilities provider’s stock worth $162,607,000 after buying an additional 289,816 shares in the last quarter. Finally, Cohen & Steers Inc. increased its position in Alliant Energy by 12.0% during the third quarter. Cohen & Steers Inc. now owns 2,166,123 shares of the utilities provider’s stock worth $90,046,000 after buying an additional 232,090 shares in the last quarter. 69.92% of the stock is owned by institutional investors.
Several equities analysts have weighed in on LNT shares. Wells Fargo & Co downgraded Alliant Energy from an “outperform” rating to a “market perform” rating in a research report on Monday, December 18th. 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. Zacks Investment Research downgraded Alliant Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, January 24th. Finally, UBS Group started coverage on Alliant Energy in a research report on Friday, February 2nd. They set a “neutral” rating and a $40.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $42.83.
Alliant Energy (NYSE:LNT) last announced its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $0.33 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.03). The business had revenue of $856.10 million during the quarter, compared to analysts’ expectations of $896.94 million. Alliant Energy had a net margin of 13.82% and a return on equity of 11.11%. Alliant Energy’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 EPS. sell-side analysts forecast that Alliant Energy Co. will post 2.11 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st were given a $0.335 dividend. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.46%. This is an increase from Alliant Energy’s previous quarterly dividend of $0.32. Alliant Energy’s payout ratio is currently 67.34%.
Alliant Energy announced that its Board of Directors has approved a share buyback plan on Monday, January 15th that allows the company to repurchase shares. This repurchase authorization allows the utilities provider to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
Alliant Energy 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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