Marshall Wace LLP Invests $1.61 Million in Alliant Energy Co. (LNT)
Marshall Wace LLP purchased a new stake in shares of Alliant Energy Co. (NYSE:LNT) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 38,134 shares of the utilities provider’s stock, valued at approximately $1,614,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in Alliant Energy by 13.2% during the first quarter. BlackRock Inc. now owns 21,474,303 shares of the utilities provider’s stock worth $877,438,000 after purchasing an additional 2,502,658 shares in the last quarter. Citadel Advisors LLC raised its holdings in Alliant Energy by 10,940.8% during the first quarter. Citadel Advisors LLC now owns 1,119,424 shares of the utilities provider’s stock worth $45,740,000 after purchasing an additional 1,109,285 shares in the last quarter. Lord Abbett & CO. LLC raised its holdings in Alliant Energy by 284.5% during the first quarter. Lord Abbett & CO. LLC now owns 680,200 shares of the utilities provider’s stock worth $27,793,000 after purchasing an additional 503,300 shares in the last quarter. Commonwealth Bank of Australia raised its holdings in Alliant Energy by 11.4% during the second quarter. Commonwealth Bank of Australia now owns 3,498,963 shares of the utilities provider’s stock worth $147,412,000 after purchasing an additional 359,030 shares in the last quarter. Finally, Epoch Investment Partners Inc. bought a new stake in Alliant Energy during the second quarter worth approximately $14,640,000. 70.94% of the stock is currently owned by institutional investors.
In other news, Director Deborah B. Dunie acquired 1,250 shares of the stock in a transaction on Thursday, September 13th. The shares were purchased at an average cost of $43.80 per share, for a total transaction of $54,750.00. Following the transaction, the director now owns 12,300 shares in the company, valued at approximately $538,740. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.25% of the company’s stock.
Alliant Energy (NYSE:LNT) last posted its quarterly earnings results on Thursday, August 2nd. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.02). Alliant Energy had a net margin of 14.14% and a return on equity of 11.35%. The company had revenue of $816.10 million during the quarter, compared to the consensus estimate of $789.73 million. During the same period in the prior year, the company posted $0.41 EPS. Alliant Energy’s quarterly revenue was up 6.6% on a year-over-year basis. On average, research analysts forecast that Alliant Energy Co. will post 2.13 earnings per share for the current year.
Several brokerages recently commented on LNT. Mizuho began coverage on Alliant Energy in a report on Monday, October 8th. They set a “neutral” rating and a $44.00 target price on the stock. UBS Group upped their price target on Alliant Energy from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, August 10th. ValuEngine raised Alliant Energy from a “hold” rating to a “buy” rating in a report on Thursday. Wells Fargo & Co upped their price target on Alliant Energy from $45.00 to $47.00 and gave the company a “market perform” rating in a report on Monday, September 17th. Finally, Howard Weil began coverage on Alliant Energy in a report on Tuesday, July 24th. They issued a “sector perform” rating and a $44.00 price target on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $45.14.
Alliant Energy Profile
Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services in the Midwest region of the United States. It operates through three segments: Electric, Gas, and 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.
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