Sumitomo Mitsui Trust Group Inc. Has $36.40 Million Holdings in Alliant Energy Co. (NASDAQ:LNT)

Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Alliant Energy Co. (NASDAQ:LNT) by 4.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 615,474 shares of the company’s stock after purchasing an additional 26,730 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Alliant Energy were worth $36,399,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

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

Alliant Energy Price Performance

Shares of NASDAQ LNT opened at $60.31 on Wednesday. The firm’s 50-day moving average price is $59.37 and its 200-day moving average price is $59.37. Alliant Energy Co. has a 1-year low of $46.80 and a 1-year high of $64.19. The firm has a market capitalization of $15.48 billion, a P/E ratio of 23.38, a P/E/G 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 business 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. The ex-dividend date of this dividend is Friday, January 31st. This represents a $2.03 annualized dividend and a dividend yield of 3.37%. This is a positive change from Alliant Energy’s previous quarterly dividend of $0.48. Alliant Energy’s dividend payout ratio is currently 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.