CIBC Asset Management Inc Has $2.69 Million Position in Alliant Energy Co. (NASDAQ:LNT)

CIBC Asset Management Inc raised its stake in Alliant Energy Co. (NASDAQ:LNT) by 2.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 45,674 shares of the company’s stock after buying an additional 1,111 shares during the quarter. CIBC Asset Management Inc’s holdings in Alliant Energy were worth $2,689,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LNT. Janus Henderson Group PLC lifted its holdings in shares of Alliant Energy by 0.6% during the 3rd quarter. Janus Henderson Group PLC now owns 10,691,172 shares of the company’s stock worth $648,847,000 after acquiring an additional 65,110 shares during the period. Geode Capital Management LLC raised its position in Alliant Energy by 1.4% during the third quarter. Geode Capital Management LLC now owns 6,593,166 shares of the company’s stock valued at $398,880,000 after purchasing an additional 92,525 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Alliant Energy by 8.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 6,512,770 shares of the company’s stock valued at $395,260,000 after purchasing an additional 512,429 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Alliant Energy by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,216,475 shares of the company’s stock worth $134,518,000 after purchasing an additional 14,225 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Alliant Energy by 92.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,604,272 shares of the company’s stock valued at $97,363,000 after purchasing an additional 771,919 shares in the last quarter. 79.90% of the stock is owned by institutional investors and hedge funds.

Alliant Energy Stock Up 1.9 %

NASDAQ:LNT opened at $62.81 on Friday. Alliant Energy Co. has a one year low of $46.80 and a one year high of $64.19. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.86 and a quick ratio of 0.72. The company has a market cap of $16.12 billion, a PE ratio of 24.34, a P/E/G ratio of 2.83 and a beta of 0.60. The firm’s 50 day simple moving average is $59.44 and its 200 day simple moving average is $59.65.

Alliant Energy (NASDAQ:LNT) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The company had revenue of $976.00 million for the quarter, compared to analyst estimates of $1.14 billion. Alliant Energy had a net margin of 16.66% and a return on equity of 10.56%. On average, research analysts anticipate that Alliant Energy Co. will post 3.03 earnings per share for the current year.

Alliant Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st were paid a $0.5075 dividend. This is a boost from Alliant Energy’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.03 annualized dividend and a dividend yield of 3.23%. Alliant Energy’s dividend payout ratio is presently 78.68%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Scotiabank cut Alliant Energy from a “sector outperform” rating to a “sector perform” rating and boosted their price target for the stock from $64.00 to $67.00 in a report on Thursday, December 12th. Barclays lowered their target price on Alliant Energy from $61.00 to $59.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 6th. Wells Fargo & Company reduced their price target on shares of Alliant Energy from $66.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Finally, BMO Capital Markets lowered their price objective on shares of Alliant Energy from $65.00 to $61.00 and set a “market perform” rating for the company in a research report on Monday, November 4th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Alliant Energy has an average rating of “Hold” and a consensus price target of $63.39.

Alliant Energy Profile

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.