Corebridge Financial Inc. Sells 2,928 Shares of Alliant Energy Co. (NASDAQ:LNT)

Corebridge Financial Inc. lessened its stake in Alliant Energy Co. (NASDAQ:LNT) by 4.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,756 shares of the company’s stock after selling 2,928 shares during the period. Corebridge Financial Inc.’s holdings in Alliant Energy were worth $3,593,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of LNT. Larson Financial Group LLC raised its position 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 last quarter. SBI Securities Co. Ltd. acquired a new stake in Alliant Energy in the fourth quarter worth about $29,000. ORG Partners LLC raised its holdings in Alliant Energy by 517.0% during the 4th quarter. ORG Partners LLC now owns 617 shares of the company’s stock worth $36,000 after purchasing an additional 517 shares during the last quarter. WASHINGTON TRUST Co lifted its position in Alliant Energy by 251.2% during the 4th quarter. WASHINGTON TRUST Co now owns 878 shares of the company’s stock valued at $52,000 after purchasing an additional 628 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Alliant Energy in the 4th quarter valued at about $53,000. Institutional investors and hedge funds own 79.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. BMO Capital Markets boosted their price target on shares of Alliant Energy from $60.00 to $66.00 and gave the stock a “market perform” rating in a research note on Monday, February 24th. UBS Group increased their price target on Alliant Energy from $65.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Scotiabank cut Alliant Energy from a “sector outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $64.00 to $67.00 in a research note on Thursday, December 12th. Finally, Guggenheim reissued a “neutral” rating and issued a $57.00 target price on shares of Alliant Energy in a research note on Monday, February 24th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average 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 stock has a 50 day simple moving average of $61.73 and a 200 day simple moving average of $60.68. Alliant Energy Co. has a 52-week low of $47.23 and a 52-week high of $66.54. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.72 and a current ratio of 0.86. The firm has a market capitalization of $16.32 billion, a PE ratio of 23.64, a P/E/G ratio of 2.83 and a beta of 0.54.

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

Alliant Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st were issued a $0.5075 dividend. This represents a $2.03 dividend on an annualized basis and a dividend yield of 3.19%. This is a positive change from Alliant Energy’s previous quarterly dividend of $0.48. The ex-dividend date was Friday, January 31st. Alliant Energy’s payout ratio is 75.46%.

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.