Russell Investments Group Ltd. increased its position in shares of Alliant Energy Co. (NASDAQ:LNT – Get Rating) by 61.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 798,216 shares of the company’s stock after acquiring an additional 303,139 shares during the period. Russell Investments Group Ltd.’s holdings in Alliant Energy were worth $42,311,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of LNT. Great West Life Assurance Co. Can raised its holdings in Alliant Energy by 3.0% during the first quarter. Great West Life Assurance Co. Can now owns 117,612 shares of the company’s stock worth $7,714,000 after purchasing an additional 3,451 shares during the last quarter. Prudential PLC acquired a new position in Alliant Energy during the first quarter worth $427,000. National Pension Service raised its holdings in Alliant Energy by 11,488.8% during the first quarter. National Pension Service now owns 371,883 shares of the company’s stock worth $23,235,000 after purchasing an additional 368,674 shares during the last quarter. Vanguard Group Inc. raised its holdings in Alliant Energy by 1.1% during the first quarter. Vanguard Group Inc. now owns 31,030,199 shares of the company’s stock worth $1,938,766,000 after purchasing an additional 342,340 shares during the last quarter. Finally, Covestor Ltd raised its holdings in Alliant Energy by 67.2% during the first quarter. Covestor Ltd now owns 1,988 shares of the company’s stock worth $124,000 after purchasing an additional 799 shares during the last quarter. 75.89% of the stock is owned by institutional investors and hedge funds.
Alliant Energy Price Performance
Shares of NASDAQ:LNT opened at $54.33 on Wednesday. The company has a market cap of $13.64 billion, a P/E ratio of 20.50, a P/E/G ratio of 3.18 and a beta of 0.52. The company has a quick ratio of 0.58, a current ratio of 0.70 and a debt-to-equity ratio of 1.21. Alliant Energy Co. has a 52 week low of $47.19 and a 52 week high of $65.37. The business has a fifty day simple moving average of $55.16 and a 200-day simple moving average of $55.89.
Analysts Set New Price Targets
Several brokerages recently issued reports on LNT. Bank of America cut Alliant Energy from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $57.00 to $56.00 in a report on Wednesday, December 7th. Credit Suisse Group dropped their price target on Alliant Energy to $51.00 in a research report on Thursday, October 20th. Guggenheim downgraded Alliant Energy from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $50.00 to $46.00 in a research report on Monday. BMO Capital Markets raised their price target on Alliant Energy from $53.00 to $55.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 9th. Finally, UBS Group raised their price target on Alliant Energy to $58.00 in a research report on Monday, November 21st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $58.60.
About Alliant Energy
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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