Sumitomo Mitsui Trust Holdings Inc. Sells 58,033 Shares of Alliant Energy Co. (NASDAQ:LNT)

Sumitomo Mitsui Trust Holdings Inc. decreased its stake in shares of Alliant Energy Co. (NASDAQ:LNT) by 9.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 574,004 shares of the company’s stock after selling 58,033 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.22% of Alliant Energy worth $29,217,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wetzel Investment Advisors Inc. bought a new position in Alliant Energy during the 4th quarter worth about $26,000. Gables Capital Management Inc. grew its holdings in shares of Alliant Energy by 68.4% during the fourth quarter. Gables Capital Management Inc. now owns 522 shares of the company’s stock worth $27,000 after buying an additional 212 shares in the last quarter. Scarborough Advisors LLC acquired a new stake in Alliant Energy in the 4th quarter valued at approximately $28,000. Christopher J. Hasenberg Inc bought a new stake in Alliant Energy in the 1st quarter valued at approximately $32,000. Finally, EverSource Wealth Advisors LLC boosted its position in Alliant Energy by 252.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 662 shares of the company’s stock worth $34,000 after acquiring an additional 474 shares during the last quarter. 79.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LNT has been the topic of a number of recent research reports. Wells Fargo & Company lifted their price objective on shares of Alliant Energy from $56.00 to $62.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Barclays lifted their target price on Alliant Energy from $52.00 to $55.00 and gave the company an “equal weight” rating in a research report on Thursday, July 11th. BMO Capital Markets upped their price target on shares of Alliant Energy from $58.00 to $60.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 6th. LADENBURG THALM/SH SH upgraded Alliant Energy from a “neutral” rating to a “buy” rating and upped their price objective for the company from $50.00 to $62.50 in a research note on Tuesday, August 13th. Finally, Scotiabank upped their price objective on shares of Alliant Energy from $53.00 to $58.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Alliant Energy currently has a consensus rating of “Hold” and a consensus target price of $56.36.

Alliant Energy Stock Performance

NASDAQ:LNT opened at $57.67 on Tuesday. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.31. The stock has a 50 day simple moving average of $53.47 and a 200 day simple moving average of $50.87. Alliant Energy Co. has a 1-year low of $45.15 and a 1-year high of $58.69. The stock has a market cap of $14.79 billion, a P/E ratio of 20.97, a PEG ratio of 2.73 and a beta of 0.56.

Alliant Energy (NASDAQ:LNT) last announced its earnings results on Thursday, August 1st. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.07). Alliant Energy had a net margin of 15.77% and a return on equity of 10.23%. The business had revenue of $894.00 million during the quarter, compared to the consensus estimate of $897.03 million. During the same period in the previous year, the firm posted $0.64 EPS. The company’s revenue was down 2.0% compared to the same quarter last year. Research analysts anticipate that Alliant Energy Co. will post 3.07 earnings per share for the current year.

Alliant Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.92 annualized dividend and a dividend yield of 3.33%. Alliant Energy’s dividend payout ratio is presently 69.82%.

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.