Franklin Resources Inc. Cuts Stake in Alliant Energy Co. (NASDAQ:LNT)

Franklin Resources Inc. reduced its position in Alliant Energy Co. (NASDAQ:LNTFree Report) by 3.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,846,087 shares of the company’s stock after selling 121,706 shares during the period. Franklin Resources Inc.’s holdings in Alliant Energy were worth $197,304,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Corient Private Wealth LLC grew its holdings in Alliant Energy by 28.1% in the fourth quarter. Corient Private Wealth LLC now owns 41,195 shares of the company’s stock worth $2,113,000 after purchasing an additional 9,049 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Alliant Energy by 13.5% during the fourth quarter. Wells Fargo & Company MN now owns 596,395 shares of the company’s stock valued at $30,595,000 after buying an additional 71,140 shares during the last quarter. Coldstream Capital Management Inc. grew its holdings in shares of Alliant Energy by 3.0% during the fourth quarter. Coldstream Capital Management Inc. now owns 32,535 shares of the company’s stock valued at $1,669,000 after buying an additional 935 shares during the last quarter. UBS Group AG grew its holdings in shares of Alliant Energy by 23.9% during the fourth quarter. UBS Group AG now owns 797,558 shares of the company’s stock valued at $40,915,000 after buying an additional 153,963 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Alliant Energy by 24.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 103,499 shares of the company’s stock valued at $5,309,000 after buying an additional 20,371 shares during the last quarter. 79.90% of the stock is owned by hedge funds and other institutional investors.

Alliant Energy Trading Down 0.4 %

Shares of Alliant Energy stock traded down $0.23 during mid-day trading on Wednesday, hitting $51.89. The stock had a trading volume of 217,520 shares, compared to its average volume of 1,833,004. The firm has a 50-day moving average of $49.82 and a two-hundred day moving average of $49.74. Alliant Energy Co. has a 12-month low of $45.15 and a 12-month high of $56.26. The company has a quick ratio of 0.40, a current ratio of 0.56 and a debt-to-equity ratio of 1.25. The firm has a market cap of $13.30 billion, a P/E ratio of 18.95, a price-to-earnings-growth ratio of 2.76 and a beta of 0.54.

Alliant Energy (NASDAQ:LNTGet Free Report) last posted its quarterly earnings results on Friday, May 3rd. The company reported $0.62 earnings per share for the quarter, meeting the consensus estimate of $0.62. Alliant Energy had a net margin of 17.53% and a return on equity of 10.57%. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the company posted $0.65 EPS. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. Sell-side analysts forecast that Alliant Energy Co. will post 3.08 earnings per share for the current year.

Alliant Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Monday, April 29th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.70%. Alliant Energy’s payout ratio is currently 69.82%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LNT. Scotiabank dropped their price objective on shares of Alliant Energy from $57.00 to $53.00 and set a “sector outperform” rating on the stock in a report on Monday, April 22nd. BMO Capital Markets upped their price target on shares of Alliant Energy from $51.00 to $53.00 and gave the company a “market perform” rating in a report on Monday, April 15th. Bank of America lowered their price target on shares of Alliant Energy from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Thursday, April 11th. LADENBURG THALM/SH SH lowered their price target on shares of Alliant Energy from $48.50 to $48.00 and set a “neutral” rating on the stock in a report on Monday, April 29th. Finally, Wells Fargo & Company upped their price target on shares of Alliant Energy from $55.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Alliant Energy currently has an average rating of “Hold” and an average price target of $51.38.

Read Our Latest Stock Analysis on LNT

About Alliant Energy

(Free Report)

Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services in the United States. It operates in 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.

See Also

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

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