Sumitomo Mitsui DS Asset Management Company Ltd Purchases 841 Shares of Alliant Energy Co. (NASDAQ:LNT)

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Alliant Energy Co. (NASDAQ:LNT) by 3.0% during the fourth quarter, Holdings Channel reports. The fund owned 28,587 shares of the company’s stock after purchasing an additional 841 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Alliant Energy were worth $1,691,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Alliant Energy by 4.5% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 615,474 shares of the company’s stock worth $36,399,000 after acquiring an additional 26,730 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of Alliant Energy in the fourth quarter valued at approximately $213,000. Iron Horse Wealth Management LLC raised its position in Alliant Energy by 50.0% in the 4th quarter. Iron Horse Wealth Management LLC now owns 7,395 shares of the company’s stock worth $437,000 after purchasing an additional 2,465 shares during the last quarter. Buck Wealth Strategies LLC raised its position in Alliant Energy by 69.1% in the 4th quarter. Buck Wealth Strategies LLC now owns 13,584 shares of the company’s stock worth $803,000 after purchasing an additional 5,552 shares during the last quarter. Finally, Centennial Wealth Advisory LLC lifted its holdings in Alliant Energy by 10.2% during the 4th quarter. Centennial Wealth Advisory LLC now owns 7,087 shares of the company’s stock worth $419,000 after buying an additional 654 shares in the last quarter. 79.90% of the stock is owned by institutional investors and hedge funds.

Alliant Energy Stock Performance

Shares of NASDAQ:LNT opened at $59.87 on Tuesday. The company has a market capitalization of $15.36 billion, a price-to-earnings ratio of 23.21, a P/E/G ratio of 2.73 and a beta of 0.60. The firm’s 50 day simple moving average is $59.42 and its 200 day simple moving average is $59.34. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.86 and a quick ratio of 0.72. Alliant Energy Co. has a fifty-two week low of $46.80 and a fifty-two week high of $64.19.

Alliant Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st will be given a dividend of $0.5075 per share. This represents a $2.03 dividend on an annualized basis and a dividend yield of 3.39%. This is a boost from Alliant Energy’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, January 31st. Alliant Energy’s dividend payout ratio (DPR) is currently 78.68%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. BMO Capital Markets dropped their target price on 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. Scotiabank cut Alliant Energy from a “sector outperform” rating to a “sector perform” rating and boosted their price objective for the stock from $64.00 to $67.00 in a report on Thursday, December 12th. Wells Fargo & Company reduced their target price 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. Finally, Barclays dropped their price target on shares of 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. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Alliant Energy presently has an average rating of “Hold” and an average target price of $63.39.

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.