Sumitomo Mitsui Trust Holdings Inc. Sells 77,280 Shares of Alliant Energy Co. (NYSE:LNT)

Sumitomo Mitsui Trust Holdings Inc. lowered its position in shares of Alliant Energy Co. (NYSE:LNT) by 6.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,106,840 shares of the utilities provider’s stock after selling 77,280 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.44% of Alliant Energy worth $52,951,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LNT. GQ Asset Management LLC acquired a new position in Alliant Energy during the first quarter valued at approximately $35,000. Allworth Financial LP boosted its holdings in shares of Alliant Energy by 50.7% in the second quarter. Allworth Financial LP now owns 990 shares of the utilities provider’s stock valued at $47,000 after buying an additional 333 shares during the period. Twin Tree Management LP boosted its holdings in shares of Alliant Energy by 180.2% in the first quarter. Twin Tree Management LP now owns 1,031 shares of the utilities provider’s stock valued at $50,000 after buying an additional 663 shares during the period. Arden Trust Co bought a new stake in shares of Alliant Energy in the first quarter worth $55,000. Finally, Ballast Advisors LLC bought a new stake in shares of Alliant Energy in the first quarter worth $64,000. Hedge funds and other institutional investors own 71.12% of the company’s stock.

Shares of LNT opened at $53.85 on Friday. The firm has a market capitalization of $13.44 billion, a PE ratio of 27.90, a PEG ratio of 3.28 and a beta of 0.18. The company’s 50-day moving average is $49.63 and its 200-day moving average is $51.49. Alliant Energy Co. has a fifty-two week low of $37.66 and a fifty-two week high of $60.28. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.73 and a quick ratio of 0.59.

Alliant Energy (NYSE:LNT) last issued its quarterly earnings data on Thursday, May 7th. The utilities provider reported $0.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.18. Alliant Energy had a net margin of 15.09% and a return on equity of 11.69%. The company had revenue of $915.70 million for the quarter, compared to analyst estimates of $979.61 million. During the same period in the prior year, the firm earned $0.53 earnings per share. The company’s revenue was down 7.2% on a year-over-year basis. Analysts predict that Alliant Energy Co. will post 2.15 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Friday, July 31st will be paid a $0.38 dividend. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $1.52 annualized dividend and a dividend yield of 2.82%. Alliant Energy’s dividend payout ratio (DPR) is presently 78.76%.

Separately, Wells Fargo & Co cut their price objective on shares of Alliant Energy from $65.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $55.20.

Alliant Energy Profile

Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services in the Midwest region of the United States. It operates through three segments: Electric, Gas, and 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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Institutional Ownership by Quarter for Alliant Energy (NYSE:LNT)

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