Mitsubishi UFJ Asset Management Co. Ltd. Acquires 28,914 Shares of Alliant Energy Co. (NASDAQ:LNT)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Alliant Energy Co. (NASDAQ:LNT) by 7.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 427,806 shares of the company’s stock after acquiring an additional 28,914 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.17% of Alliant Energy worth $24,958,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Larson Financial Group LLC grew its holdings 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 during the last quarter. SBI Securities Co. Ltd. bought a new position in Alliant Energy in the 4th quarter worth about $29,000. ORG Partners LLC increased its position 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. WASHINGTON TRUST Co raised its stake in shares of Alliant Energy by 251.2% during the fourth quarter. WASHINGTON TRUST Co now owns 878 shares of the company’s stock valued at $52,000 after acquiring an additional 628 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Alliant Energy in the fourth quarter valued at approximately $53,000. Hedge funds and other institutional investors own 79.90% of the company’s stock.

Wall Street Analyst Weigh In

LNT has been the topic of several research reports. Scotiabank downgraded Alliant Energy from a “sector outperform” rating to a “sector perform” rating and raised their price objective for the stock from $64.00 to $67.00 in a report on Thursday, December 12th. UBS Group lifted their price objective on Alliant Energy from $65.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Guggenheim reiterated a “neutral” rating and set a $57.00 target price on shares of Alliant Energy in a report on Monday, February 24th. Finally, BMO Capital Markets boosted their price target on shares of Alliant Energy from $60.00 to $66.00 and gave the company a “market perform” rating in a 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, Alliant Energy presently has a consensus rating of “Hold” and a consensus target price of $63.55.

Alliant Energy Price Performance

Shares of LNT opened at $63.58 on Monday. The company has a 50 day moving average of $61.73 and a two-hundred day moving average of $60.68. The company has a market cap of $16.32 billion, a price-to-earnings ratio of 23.64, a price-to-earnings-growth ratio of 2.83 and a beta of 0.54. The company has a quick ratio of 0.72, a current ratio of 0.86 and a debt-to-equity ratio of 1.33. Alliant Energy Co. has a twelve month low of $47.23 and a twelve month high of $66.54.

Alliant Energy (NASDAQ:LNT) last announced its earnings results on Thursday, February 20th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. Alliant Energy had a return on equity of 11.39% and a net margin of 17.33%. The firm had revenue of $976.00 million for the quarter, compared to the consensus estimate of $1.14 billion. As a group, analysts predict that Alliant Energy Co. will post 3.23 earnings per share for the current fiscal year.

Alliant Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 31st were given a $0.5075 dividend. 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%. The ex-dividend date of this dividend was Friday, January 31st. Alliant Energy’s dividend payout ratio (DPR) is presently 75.46%.

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.