Alliant Energy Co. (NASDAQ:LNT) Stock Position Lowered by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its position in shares of Alliant Energy Co. (NASDAQ:LNT) by 1.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,169,003 shares of the company’s stock after selling 14,762 shares during the period. Principal Financial Group Inc.’s holdings in Alliant Energy were worth $69,136,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its position 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 in the last quarter. Northwest Investment Counselors LLC acquired a new position in Alliant Energy in the 3rd quarter valued at approximately $28,000. Eastern Bank purchased a new stake in Alliant Energy in the 3rd quarter worth approximately $30,000. JNBA Financial Advisors acquired a new stake in shares of Alliant Energy during the 3rd quarter valued at $31,000. Finally, ORG Partners LLC grew its holdings in shares of Alliant Energy by 517.0% during the 4th quarter. ORG Partners LLC now owns 617 shares of the company’s stock valued at $36,000 after acquiring an additional 517 shares in the last quarter. 79.90% of the stock is owned by institutional investors and hedge funds.

Alliant Energy Price Performance

NASDAQ LNT opened at $61.64 on Thursday. Alliant Energy Co. has a 1 year low of $46.80 and a 1 year high of $64.19. The company has a fifty day simple moving average of $59.37 and a 200 day simple moving average of $59.59. 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 company has a market cap of $15.82 billion, a P/E ratio of 23.89, a P/E/G ratio of 2.82 and a beta of 0.60.

Alliant Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 31st were issued a dividend of $0.5075 per share. This represents a $2.03 dividend on an annualized basis and a yield of 3.29%. This is a boost from Alliant Energy’s previous quarterly dividend of $0.48. The ex-dividend date was Friday, January 31st. Alliant Energy’s dividend payout ratio is 78.68%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wells Fargo & Company reduced their price objective on Alliant Energy from $66.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Barclays lowered their price target on Alliant Energy from $61.00 to $59.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 6th. Scotiabank lowered shares of Alliant Energy from a “sector outperform” rating to a “sector perform” rating and raised their price objective for the company from $64.00 to $67.00 in a research report on Thursday, December 12th. Finally, BMO Capital Markets decreased their target price on shares of Alliant Energy from $65.00 to $61.00 and set a “market perform” rating for the company in a research report on Monday, November 4th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $63.39.

Alliant Energy 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.