Alliant Energy Corporation $LNT Shares Sold by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC reduced its stake in Alliant Energy by 1.6% during the first quarter, now holding approximately 0.14% of the company's shares valued at $22.5 million.
• Analysts have given mixed ratings to Alliant Energy, with upgrades from Wolfe Research and Wall Street Zen, but a consensus rating of "Hold" with a target price of $65.50.
• Alliant Energy recently declared a quarterly dividend of $0.5075 per share, yielding 3.1%, and reported a revenue increase of 7.5% year-over-year for the last quarter.

Gabelli Funds LLC lessened its holdings in Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 349,716 shares of the company's stock after selling 5,529 shares during the quarter. Gabelli Funds LLC owned about 0.14% of Alliant Energy worth $22,504,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in LNT. Hughes Financial Services LLC acquired a new stake in shares of Alliant Energy during the 1st quarter worth approximately $27,000. Alpine Bank Wealth Management acquired a new stake in shares of Alliant Energy during the 1st quarter worth approximately $29,000. Tsfg LLC acquired a new stake in shares of Alliant Energy during the 1st quarter worth approximately $34,000. TD Private Client Wealth LLC purchased a new position in shares of Alliant Energy during the 1st quarter valued at approximately $34,000. Finally, First Command Advisory Services Inc. purchased a new position in shares of Alliant Energy during the 1st quarter valued at approximately $34,000. Institutional investors and hedge funds own 79.90% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Wolfe Research upgraded 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. Wall Street Zen upgraded Alliant Energy from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. UBS Group restated a "neutral" rating and issued a $67.00 price objective (up previously from $65.00) on shares of Alliant Energy in a report on Friday, July 11th. BMO Capital Markets restated a "market perform" rating and issued a $68.00 price objective (up previously from $66.00) on shares of Alliant Energy in a report on Monday, August 11th. Finally, Jefferies Financial Group set a $71.00 price objective on Alliant Energy and gave the company a "buy" rating in a report on Tuesday, May 20th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $65.50.

Alliant Energy Stock Down 0.7%

Shares of NASDAQ:LNT opened at $65.71 on Wednesday. The business has a 50-day moving average price of $63.59 and a 200 day moving average price of $62.44. The company has a current ratio of 0.57, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $16.89 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 3.12 and a beta of 0.53. Alliant Energy Corporation has a 12-month low of $56.08 and a 12-month high of $67.11.

Alliant Energy (NASDAQ:LNT - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $961.00 million during 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%.The company's quarterly revenue was up 7.5% on a year-over-year basis. During the same period last year, the company earned $0.57 EPS. Alliant Energy has set its FY 2025 guidance at 3.150-3.25 EPS. Sell-side analysts expect that Alliant Energy Corporation will post 3.23 EPS for the current year.

Alliant Energy Dividend Announcement

The firm also recently declared 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. 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 62.65%.

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.

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