46,473 Shares in Alliant Energy Corporation $LNT Acquired by Rakuten Investment Management Inc.

Key Points

• Rakuten Investment Management opened a position in Alliant Energy, buying 46,473 shares valued at approximately $2.99 million; institutional investors own 79.9% of the stock.
• Alliant Energy reported quarterly EPS of $1.52, beating the $1.31 consensus estimate, while revenue rose 6.2% year over year to $1.28 billion.
• The company declared a quarterly dividend of $0.535 per share, equivalent to a 2.9% yield. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $75.23.

Rakuten Investment Management Inc. purchased a new position in shares of Alliant Energy Corporation (NASDAQ:LNT - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 46,473 shares of the company's stock, valued at approximately $2,990,000.

A number of other hedge funds have also recently made changes to their positions in the business. Janus Henderson Group PLC grew its holdings in shares of Alliant Energy by 1.2% during the 1st quarter. Janus Henderson Group PLC now owns 11,273,621 shares of the company's stock valued at $808,996,000 after purchasing an additional 138,683 shares during the last quarter. Jupiter Topco LLC purchased a new position in Alliant Energy in the 2nd quarter worth $837,468,000. Magellan Asset Management Ltd bought a new stake in Alliant Energy in the second quarter worth $151,629,000. Legal & General Group Plc bought a new stake in Alliant Energy in the second quarter worth $143,968,000. Finally, Dimensional Fund Advisors LP lifted its stake in Alliant Energy by 3.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,383,646 shares of the company's stock worth $99,287,000 after purchasing an additional 44,474 shares during the last quarter. 79.90% of the stock is currently owned by institutional investors.

Alliant Energy Stock Down 1.0%

Shares of NASDAQ LNT opened at $72.67 on Friday. The company has a quick ratio of 0.35, a current ratio of 0.51 and a debt-to-equity ratio of 1.42. Alliant Energy Corporation has a 52 week low of $62.54 and a 52 week high of $78.81. The firm's fifty day moving average is $67.43 and its 200 day moving average is $70.63. The company has a market cap of $18.85 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 3.06 and a beta of 0.51.

Alliant Energy (NASDAQ:LNT - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.21. The business had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.26 billion. Alliant Energy had a net margin of 20.74% and a return on equity of 12.43%. The firm's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.12 EPS. On average, equities research analysts expect that Alliant Energy Corporation will post 3.43 earnings per share for the current year.

Alliant Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Friday, October 30th will be paid a dividend of $0.5350 per share. This represents a $2.14 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, October 30th. Alliant Energy's dividend payout ratio is 59.61%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Wells Fargo & Company upped their price target on shares of Alliant Energy from $81.00 to $82.00 and gave the company an "overweight" rating in a research report on Monday, November 2nd. BMO Capital Markets reiterated an "outperform" rating and issued a $75.00 price objective on shares of Alliant Energy in a report on Wednesday, October 14th. Barclays set a $68.00 target price on Alliant Energy and gave the company an "equal weight" rating in a research note on Tuesday, October 13th. HSBC initiated coverage on Alliant Energy in a report on Thursday, October 22nd. They set a "hold" rating and a $69.50 target price for the company. Finally, Royal Bank Of Canada set a $75.00 price target on Alliant Energy in a research report on Wednesday, October 14th. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $75.23.

Alliant Energy Company Profile

Alliant Energy Corporation is a regulated utility holding company that provides electric and natural gas services through its subsidiaries, Interstate Power and Light Company and Wisconsin Power and Light Company. Its service territory includes communities across Iowa and Wisconsin.

The company's operations include generating, transmitting and distributing electricity, as well as distributing natural gas. Its energy portfolio includes a mix of resources, including wind and solar power, natural gas and other generation sources.

Alliant Energy traces its roots to utility businesses that served the Midwest in the early 20th century.

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