TIAA Trust National Association Sells 267 Shares of Alliant Energy Co. (NASDAQ:LNT)

TIAA Trust National Association lessened its stake in Alliant Energy Co. (NASDAQ:LNT) by 5.5% during the fourth quarter, HoldingsChannel reports. The firm owned 4,617 shares of the company’s stock after selling 267 shares during the period. TIAA Trust National Association’s holdings in Alliant Energy were worth $273,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. RDA Financial Network grew its stake in Alliant Energy by 2.4% in the 4th quarter. RDA Financial Network now owns 7,990 shares of the company’s stock valued at $473,000 after buying an additional 184 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in Alliant Energy by 8.2% during the 4th quarter. Global Retirement Partners LLC now owns 2,509 shares of the company’s stock worth $148,000 after purchasing an additional 191 shares in the last quarter. Savant Capital LLC boosted its stake in Alliant Energy by 1.5% in the 4th quarter. Savant Capital LLC now owns 15,937 shares of the company’s stock worth $942,000 after purchasing an additional 237 shares during the period. City State Bank increased its position in shares of Alliant Energy by 0.4% during the fourth quarter. City State Bank now owns 71,547 shares of the company’s stock valued at $4,231,000 after buying an additional 257 shares during the period. Finally, United Asset Strategies Inc. lifted its holdings in shares of Alliant Energy by 0.5% in the fourth quarter. United Asset Strategies Inc. now owns 59,752 shares of the company’s stock worth $3,534,000 after buying an additional 280 shares in the last quarter. Hedge funds and other institutional investors own 79.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on LNT shares. Guggenheim reaffirmed a “neutral” rating and set a $57.00 price objective on shares of Alliant Energy in a research note on Monday, February 24th. BMO Capital Markets boosted their price target on shares of Alliant Energy from $60.00 to $66.00 and gave the company a “market perform” rating in a research report on Monday, February 24th. UBS Group increased their price objective on Alliant Energy from $65.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Finally, Scotiabank cut Alliant Energy from a “sector outperform” rating to a “sector perform” rating and boosted their target price for the stock from $64.00 to $67.00 in a research report on Thursday, December 12th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Alliant Energy has an average rating of “Hold” and an average price target of $63.55.

Alliant Energy Price Performance

LNT opened at $63.58 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.72 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $16.32 billion, a P/E ratio of 23.64, a PEG ratio of 2.83 and a beta of 0.54. The stock has a 50-day moving average price of $61.73 and a 200-day moving average price of $60.66. Alliant Energy Co. has a 12-month low of $47.23 and a 12-month high of $66.54.

Alliant Energy (NASDAQ:LNT) last issued its earnings results on Thursday, February 20th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. The business had revenue of $976.00 million during the quarter, compared to analyst estimates of $1.14 billion. Alliant Energy had a return on equity of 11.39% and a net margin of 17.33%. Equities analysts predict that Alliant Energy Co. will post 3.23 earnings per share for the current fiscal year.

Alliant Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 31st were paid a $0.5075 dividend. The ex-dividend date of this dividend was Friday, January 31st. This is an increase from Alliant Energy’s previous quarterly dividend of $0.48. This represents a $2.03 annualized dividend and a yield of 3.19%. Alliant Energy’s payout ratio is currently 75.46%.

About Alliant Energy

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.