abrdn plc Buys 6,154 Shares of Alliant Energy Co. (NASDAQ:LNT)

abrdn plc grew its stake in Alliant Energy Co. (NASDAQ:LNT) by 7.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 87,303 shares of the company’s stock after acquiring an additional 6,154 shares during the quarter. abrdn plc’s holdings in Alliant Energy were worth $5,144,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Larson Financial Group LLC boosted its stake in Alliant Energy by 7,083.3% during the 3rd quarter. Larson Financial Group LLC now owns 431 shares of the company’s stock valued at $26,000 after purchasing an additional 425 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake in shares of Alliant Energy during the third quarter valued at $28,000. Eastern Bank bought a new stake in Alliant Energy in the 3rd quarter worth about $30,000. JNBA Financial Advisors purchased a new position in Alliant Energy in the 3rd quarter worth about $31,000. Finally, ORG Partners LLC lifted its stake in Alliant Energy by 517.0% during the 4th quarter. ORG Partners LLC now owns 617 shares of the company’s stock valued at $36,000 after acquiring an additional 517 shares during the period. 79.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

LNT has been the subject of several research reports. BMO Capital Markets decreased 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 report on Monday, November 4th. Wells Fargo & Company decreased their target price on shares of Alliant Energy from $66.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Barclays dropped their price target on Alliant Energy from $61.00 to $59.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 6th. Finally, Scotiabank cut Alliant Energy from a “sector outperform” rating to a “sector perform” rating and upped their price objective for the company from $64.00 to $67.00 in a research report on Thursday, December 12th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $63.39.

Alliant Energy Trading Down 0.1 %

Shares of LNT stock opened at $59.47 on Monday. The stock’s 50-day moving average price is $59.42 and its 200-day moving average price is $59.32. Alliant Energy Co. has a 12-month low of $46.80 and a 12-month high of $64.19. The stock has a market capitalization of $15.26 billion, a price-to-earnings ratio of 23.05, a price-to-earnings-growth ratio of 2.73 and a beta of 0.60. The company has a current ratio of 0.86, a quick ratio of 0.72 and a debt-to-equity ratio of 1.33.

Alliant Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.5075 per share. This represents a $2.03 annualized dividend and a dividend yield of 3.41%. This is a boost from Alliant Energy’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, January 31st. Alliant Energy’s dividend payout ratio is 78.68%.

Alliant Energy Company 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.