Sumitomo Mitsui Trust Group Inc. Purchases 26,730 Shares of Alliant Energy Co. (NASDAQ:LNT)

Sumitomo Mitsui Trust Group Inc. raised its position in shares of Alliant Energy Co. (NASDAQ:LNT) by 4.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 615,474 shares of the company’s stock after acquiring an additional 26,730 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.24% of Alliant Energy worth $36,399,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Larson Financial Group LLC boosted its holdings in shares of Alliant Energy by 7,083.3% during the third quarter. Larson Financial Group LLC now owns 431 shares of the company’s stock worth $26,000 after acquiring an additional 425 shares during the period. Northwest Investment Counselors LLC bought a new stake in shares of Alliant Energy during the third quarter worth approximately $28,000. Eastern Bank bought a new stake in shares of Alliant Energy during the third quarter worth approximately $30,000. JNBA Financial Advisors bought a new stake in shares of Alliant Energy during the third quarter worth approximately $31,000. Finally, ORG Partners LLC boosted its holdings in shares of Alliant Energy by 517.0% during the fourth quarter. ORG Partners LLC now owns 617 shares of the company’s stock worth $36,000 after acquiring an additional 517 shares during the period. Institutional investors own 79.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LNT. 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 report on Wednesday, November 6th. BMO Capital Markets dropped their price target 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. Scotiabank downgraded shares of Alliant Energy from a “sector outperform” rating to a “sector perform” rating and lifted their price target for the company from $64.00 to $67.00 in a research report on Thursday, December 12th. Finally, Wells Fargo & Company dropped their price target on shares of Alliant Energy from $66.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $63.39.

Alliant Energy Stock Up 0.7 %

Shares of LNT opened at $60.31 on Wednesday. Alliant Energy Co. has a one year low of $46.80 and a one year high of $64.19. The company has a market cap of $15.48 billion, a P/E ratio of 23.38, a P/E/G ratio of 2.73 and a beta of 0.60. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.86 and a quick ratio of 0.72. The firm has a 50 day simple moving average of $59.37 and a two-hundred day simple moving average of $59.37.

Alliant Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.5075 per share. The ex-dividend date of this dividend is 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 dividend yield of 3.37%. Alliant Energy’s dividend payout ratio is 78.68%.

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.