Alliant Energy Corporation $LNT Stake Boosted by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Alliant Energy Corporation by 23.2% during the 2nd quarter, now owning 35,943 shares valued at approximately $2.17 million.
• The company reported a profit of $0.68 EPS for the last quarter, surpassing estimates, with revenue of $961 million, though this was below analyst expectations.
• Alliant Energy declared a quarterly dividend of $0.5075 per share, resulting in an annualized yield of 3.2% with a payout ratio of 62.65%.

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 23.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,943 shares of the company's stock after acquiring an additional 6,759 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Alliant Energy were worth $2,173,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Teacher Retirement System of Texas acquired a new stake in shares of Alliant Energy in the 1st quarter valued at $2,414,000. Sowell Financial Services LLC acquired a new stake in shares of Alliant Energy in the 1st quarter valued at $316,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Alliant Energy by 1.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 65,585 shares of the company's stock valued at $4,220,000 after purchasing an additional 1,198 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Alliant Energy by 19.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,413 shares of the company's stock valued at $3,566,000 after purchasing an additional 8,959 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in shares of 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 valued at $1,934,000 after purchasing an additional 800 shares during the last quarter. 79.90% of the stock is currently owned by hedge funds and other institutional investors.

Alliant Energy Price Performance

Shares of Alliant Energy stock opened at $64.17 on Monday. 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 stock has a market capitalization of $16.49 billion, a price-to-earnings ratio of 19.81, a P/E/G ratio of 3.02 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 firm's 50-day moving average price is $64.83 and its two-hundred day moving average price is $62.69.

Alliant Energy (NASDAQ:LNT - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.62 by $0.06. Alliant Energy had a net margin of 20.07% and a return on equity of 12.25%. The business had revenue of $961.00 million for the quarter, compared to analysts' expectations of $977.15 million. During the same period in the prior year, the firm 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, equities analysts predict that Alliant Energy Corporation will post 3.23 earnings per share for the current fiscal year.

Alliant Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 31st were paid a dividend of $0.5075 per share. 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 is 62.65%.

Analyst Ratings Changes

LNT has been the subject of several analyst reports. UBS Group reaffirmed a "neutral" rating and issued a $67.00 price objective (up previously from $65.00) on shares of Alliant Energy in a research note on Friday, July 11th. Wolfe Research raised shares of Alliant Energy from a "peer perform" rating to an "outperform" rating and set a $68.00 price objective for the company in a research note on Monday, July 7th. Wall Street Zen lowered shares of Alliant Energy from a "hold" rating to a "sell" rating in a research note on Saturday. BMO Capital Markets reissued a "market perform" rating and set a $68.00 target price (up previously from $66.00) on shares of Alliant Energy in a research report on Monday, August 11th. Finally, Bank of America lifted their price objective on Alliant Energy from $68.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, August 14th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Alliant Energy presently has a consensus rating of "Hold" and a consensus target price of $65.50.

About Alliant Energy

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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