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

TIAA Trust National Association reduced its position in Alliant Energy Co. (NASDAQ:LNT) by 5.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,617 shares of the company’s stock after selling 267 shares during the quarter. TIAA Trust National Association’s holdings in Alliant Energy were worth $273,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Point72 Asset Management L.P. increased its holdings in Alliant Energy by 92.7% in the third quarter. Point72 Asset Management L.P. now owns 1,604,272 shares of the company’s stock worth $97,363,000 after purchasing an additional 771,919 shares in the last quarter. Jennison Associates LLC bought a new stake in shares of Alliant Energy in the 4th quarter valued at $32,225,000. Retirement Systems of Alabama lifted its position in shares of Alliant Energy by 698.3% during the 3rd quarter. Retirement Systems of Alabama now owns 451,477 shares of the company’s stock valued at $27,400,000 after acquiring an additional 394,920 shares during the period. National Pension Service bought a new position in Alliant Energy during the fourth quarter worth $22,531,000. Finally, Raymond James Financial Inc. acquired a new stake in Alliant Energy in the fourth quarter worth $20,677,000. 79.90% of the stock is currently owned by institutional investors and hedge funds.

Alliant Energy Stock Performance

Shares of LNT stock opened at $63.58 on Friday. Alliant Energy Co. has a one year low of $47.23 and a one year high of $66.54. The company has a market cap of $16.32 billion, a P/E ratio of 23.64, a P/E/G ratio of 2.83 and a beta of 0.54. The firm has a 50-day moving average of $61.73 and a 200-day moving average of $60.66. 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 (NASDAQ:LNT) last posted its earnings results on Thursday, February 20th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.68 by $0.02. The firm had revenue of $976.00 million for the quarter, compared to analysts’ expectations of $1.14 billion. Alliant Energy had a net margin of 17.33% and a return on equity of 11.39%. Equities research analysts forecast that Alliant Energy Co. will post 3.23 EPS for the current fiscal year.

Alliant Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st were given a dividend of $0.5075 per share. The ex-dividend date of this dividend was Friday, January 31st. This is a positive change from Alliant Energy’s previous quarterly dividend of $0.48. This represents a $2.03 annualized dividend and a dividend yield of 3.19%. Alliant Energy’s dividend payout ratio (DPR) is currently 75.46%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on LNT shares. Scotiabank cut shares of Alliant Energy from a “sector outperform” rating to a “sector perform” rating and increased their price objective for the stock from $64.00 to $67.00 in a research report on Thursday, December 12th. UBS Group increased their price target on Alliant Energy from $65.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. BMO Capital Markets upped their target price on Alliant Energy from $60.00 to $66.00 and gave the stock a “market perform” rating in a research report on Monday, February 24th. Finally, Guggenheim reissued a “neutral” rating and issued a $57.00 price target on shares of Alliant Energy in a research report on Monday, February 24th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $63.55.

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.