Huntington National Bank Cuts Stake in Alliant Energy Co. (NASDAQ:LNT)

Huntington National Bank cut its holdings in Alliant Energy Co. (NASDAQ:LNTFree Report) by 39.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,284 shares of the company’s stock after selling 2,836 shares during the quarter. Huntington National Bank’s holdings in Alliant Energy were worth $208,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in LNT. Great West Life Assurance Co. Can lifted its stake in shares of Alliant Energy by 3.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 117,612 shares of the company’s stock valued at $7,714,000 after purchasing an additional 3,451 shares during the last quarter. Prudential PLC purchased a new stake in shares of Alliant Energy in the 1st quarter valued at $427,000. National Pension Service raised its holdings in shares of Alliant Energy by 11,488.8% in the 1st quarter. National Pension Service now owns 371,883 shares of the company’s stock valued at $23,235,000 after buying an additional 368,674 shares during the period. Vanguard Group Inc. raised its holdings in shares of Alliant Energy by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 31,030,199 shares of the company’s stock valued at $1,938,766,000 after buying an additional 342,340 shares during the period. Finally, Covestor Ltd raised its holdings in shares of Alliant Energy by 67.2% in the 1st quarter. Covestor Ltd now owns 1,988 shares of the company’s stock valued at $124,000 after buying an additional 799 shares during the period. 77.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LNT has been the topic of several recent research reports. Scotiabank upgraded Alliant Energy from a “sector perform” rating to a “sector outperform” rating and cut their price target for the stock from $60.00 to $59.00 in a report on Monday, October 16th. BMO Capital Markets downgraded Alliant Energy from an “outperform” rating to a “market perform” rating and set a $55.00 price target on the stock. in a report on Thursday, January 11th. Finally, Barclays reaffirmed an “equal weight” rating and set a $53.00 price objective (up from $50.00) on shares of Alliant Energy in a research report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $54.06.

Read Our Latest Research Report on LNT

Alliant Energy Stock Up 0.9 %

Shares of NASDAQ LNT opened at $47.93 on Friday. Alliant Energy Co. has a 1 year low of $45.15 and a 1 year high of $56.26. The firm has a market cap of $12.23 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 2.53 and a beta of 0.56. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.54 and a current ratio of 0.71. The stock’s 50-day simple moving average is $50.34 and its 200-day simple moving average is $50.26.

Alliant Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st will be paid a $0.48 dividend. This is an increase from Alliant Energy’s previous quarterly dividend of $0.45. This represents a $1.92 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend is Tuesday, January 30th. Alliant Energy’s payout ratio is presently 70.07%.

Alliant Energy Profile

(Free Report)

Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services. It operates through 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.

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Institutional Ownership by Quarter for Alliant Energy (NASDAQ:LNT)

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