MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 8,959 Shares of Alliant Energy Corporation $LNT

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Alliant Energy Corporation by 19.3%, owning 55,413 shares valued at approximately $3.57 million after acquiring an additional 8,959 shares in the first quarter.
• Alliant Energy recently reported quarterly earnings of $0.68 per share, surpassing expectations, and its revenue increased by 7.5% year-over-year to $961 million.
• The company announced a quarterly dividend of $0.5075 per share, reflecting a dividend yield of 3.1% and a payout ratio of 62.65%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 19.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 55,413 shares of the company's stock after buying an additional 8,959 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Alliant Energy were worth $3,566,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. boosted its position in Alliant Energy by 0.8% during the fourth quarter. Ameriprise Financial Inc. now owns 260,970 shares of the company's stock valued at $15,439,000 after purchasing an additional 2,120 shares during the last quarter. Captrust Financial Advisors lifted its position in shares of Alliant Energy by 3.2% during the fourth quarter. Captrust Financial Advisors now owns 12,511 shares of the company's stock worth $740,000 after purchasing an additional 384 shares in the last quarter. Millennium Management LLC bought a new stake in shares of Alliant Energy during the fourth quarter worth approximately $3,987,000. NorthRock Partners LLC acquired a new position in Alliant Energy during the fourth quarter valued at approximately $397,000. Finally, Nomura Holdings Inc. acquired a new stake in shares of Alliant Energy in the fourth quarter valued at approximately $500,000. Institutional investors own 79.90% of the company's stock.

Wall Street Analyst Weigh In

LNT has been the subject of a number of recent research reports. BMO Capital Markets reaffirmed a "market perform" rating and issued a $68.00 target price (up previously from $66.00) on shares of Alliant Energy in a report on Monday, August 11th. Bank of America raised their price objective on Alliant Energy from $68.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, August 14th. UBS Group reissued a "neutral" rating and set a $67.00 price objective (up from $65.00) on shares of Alliant Energy in a research report on Friday, July 11th. Jefferies Financial Group set a $71.00 price target on Alliant Energy and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Finally, Wolfe Research raised shares of Alliant Energy from a "peer perform" rating to an "outperform" rating and set a $68.00 price target on the stock in a report on Monday, July 7th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Alliant Energy has an average rating of "Hold" and an average target price of $65.50.

Alliant Energy Price Performance

Alliant Energy stock traded down $0.13 during midday trading on Monday, reaching $64.73. 862,142 shares of the company were exchanged, compared to its average volume of 1,751,051. The company has a market capitalization of $16.63 billion, a price-to-earnings ratio of 19.98, a P/E/G ratio of 3.05 and a beta of 0.54. Alliant Energy Corporation has a 1 year low of $56.08 and a 1 year high of $67.11. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.57. The firm's 50-day simple moving average is $64.67 and its 200-day simple moving average is $62.69.

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

Alliant Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 31st were given a dividend of $0.5075 per share. The ex-dividend date was Thursday, July 31st. This represents a $2.03 dividend on an annualized basis and a yield of 3.1%. Alliant Energy's dividend payout ratio is presently 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.