Alliancebernstein L.P. Buys 36,910 Shares of Alliant Energy Corporation $LNT

Key Points

• Alliancebernstein L.P. increased its holdings in Alliant Energy Corporation by 6.9%, acquiring an additional 36,910 shares during the first quarter, bringing its total to 573,896 shares worth approximately $36.93 million.
• Several other institutional investors also adjusted their stakes in Alliant Energy, resulting in 79.90% of the company now being owned by institutional investors.
• Alliant Energy recently announced a quarterly dividend of $0.5075 per share, yielding approximately 3.2%, with a dividend payout ratio of 62.65%.

Alliancebernstein L.P. grew its stake in Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 6.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 573,896 shares of the company's stock after purchasing an additional 36,910 shares during the quarter. Alliancebernstein L.P. owned about 0.22% of Alliant Energy worth $36,930,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Teacher Retirement System of Texas bought a new position in Alliant Energy in the 1st quarter worth $2,414,000. Sowell Financial Services LLC bought a new position in Alliant Energy in the 1st quarter worth $316,000. Wealth Enhancement Advisory Services LLC raised its holdings in Alliant Energy by 1.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 65,585 shares of the company's stock worth $4,220,000 after purchasing an additional 1,198 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in Alliant Energy by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 30,063 shares of the company's stock worth $1,934,000 after purchasing an additional 800 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in Alliant Energy by 112.9% in the 1st quarter. Farther Finance Advisors LLC now owns 5,860 shares of the company's stock worth $378,000 after purchasing an additional 3,108 shares in the last quarter. 79.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Jefferies Financial Group set a $71.00 price target on shares of Alliant Energy and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Wall Street Zen upgraded shares of Alliant Energy from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. Bank of America increased their price target on shares of Alliant Energy from $68.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, August 14th. 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 note on Friday, July 11th. Finally, BMO Capital Markets reiterated a "market perform" rating and issued a $68.00 price target (up from $66.00) on shares of Alliant Energy in a research note on Monday, August 11th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Alliant Energy presently has a consensus rating of "Hold" and a consensus target price of $65.50.

Alliant Energy Stock Down 0.9%

NASDAQ:LNT opened at $64.05 on Tuesday. The firm has a market cap of $16.46 billion, a P/E ratio of 19.77, a P/E/G ratio of 3.05 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 Corporation has a fifty-two week low of $56.08 and a fifty-two week high of $67.11. The firm has a 50-day simple moving average of $64.38 and a two-hundred day simple moving average of $62.67.

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

Alliant Energy Dividend Announcement

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

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.

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