Adage Capital Partners GP L.L.C. Raises Stake in Alliant Energy Corporation $LNT

Key Points

• Adage Capital Partners GP L.L.C. increased its stake in Alliant Energy Corporation by 60.3% in Q1, acquiring a total of $24.72 million in shares.
• Several hedge funds, including the Teacher Retirement System of Texas, have also established or increased their positions in Alliant Energy, which is now 79.90% owned by institutional investors.
• Bank of America raised its target price for Alliant Energy from $68.00 to $70.00 while the consensus price target stands at $65.50, reflecting a generally positive outlook from analysts.

Adage Capital Partners GP L.L.C. boosted its stake in shares of Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 60.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 384,208 shares of the company's stock after buying an additional 144,500 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.15% of Alliant Energy worth $24,724,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the business. Dark Forest Capital Management LP grew its position in shares of Alliant Energy by 532.7% in the first quarter. Dark Forest Capital Management LP now owns 63,637 shares of the company's stock valued at $4,095,000 after purchasing an additional 53,579 shares during the last quarter. EP Wealth Advisors LLC acquired a new stake in shares of Alliant Energy in the first quarter valued at approximately $207,000. Energy Income Partners LLC grew its position in shares of Alliant Energy by 3.5% in the first quarter. Energy Income Partners LLC now owns 765,239 shares of the company's stock valued at $49,243,000 after purchasing an additional 25,931 shares during the last quarter. Quarry LP acquired a new stake in shares of Alliant Energy in the first quarter valued at approximately $40,000. Finally, Vident Advisory LLC acquired a new stake in shares of Alliant Energy in the first quarter valued at approximately $402,000. 79.90% of the stock is currently owned by institutional investors and hedge funds.

Alliant Energy Trading Down 0.2%

NASDAQ LNT traded down $0.16 during mid-day trading on Wednesday, reaching $63.85. 167,322 shares of the stock were exchanged, compared to its average volume of 1,969,847. Alliant Energy Corporation has a 1-year low of $56.08 and a 1-year high of $67.11. The business's fifty day simple moving average is $64.43 and its 200 day simple moving average is $62.68. The stock has a market capitalization of $16.41 billion, a PE ratio of 19.71, a PEG ratio of 3.02 and a beta of 0.54. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.57.

Alliant Energy (NASDAQ:LNT - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.06. Alliant Energy had a net margin of 20.07% and a return on equity of 12.25%. The firm had revenue of $961.00 million for the quarter, compared to analyst estimates of $977.15 million. During the same quarter last year, the business earned $0.57 earnings per share. Alliant Energy's revenue was up 7.5% compared to the same quarter last year. Alliant Energy has set its FY 2025 guidance at 3.150-3.25 EPS. On average, research analysts anticipate that Alliant Energy Corporation will post 3.23 earnings per share for the current fiscal year.

Alliant Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 31st were given a $0.5075 dividend. This represents a $2.03 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Thursday, July 31st. Alliant Energy's dividend payout ratio (DPR) is 62.65%.

Analyst Ratings Changes

Several analysts have recently commented on LNT shares. Bank of America increased their price target on shares of Alliant Energy from $68.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday, August 14th. Wall Street Zen upgraded shares of Alliant Energy from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. UBS Group reiterated a "neutral" rating and issued a $67.00 price target (up from $65.00) on shares of Alliant Energy in a research report on Friday, July 11th. Jefferies Financial Group set a $71.00 target price on shares of Alliant Energy and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Finally, Wolfe Research upgraded shares of Alliant Energy from a "peer perform" rating to an "outperform" rating and set a $68.00 target price on the stock in a research report on Monday, July 7th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $65.50.

Alliant Energy Company 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.