Alliant Energy Corporation $LNT Stock: Pictet Asset Management Holding SA Raises Stake

Key Points

• Pictet Asset Management increased its Alliant Energy stake by 8.2% in the third quarter, adding 273,392 shares to reach about 3.61 million shares, valued at roughly $228.4 million.
• Alliant Energy beat quarterly earnings and revenue estimates, reporting EPS of $1.52 and revenue of $1.28 billion; revenue rose 6.2% year over year. It also declared a quarterly dividend of $0.535 per share, equivalent to a 2.9% yield.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $75.23; seven analysts rate the stock Buy and six rate it Hold.

Pictet Asset Management Holding SA increased its stake in Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 8.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,608,498 shares of the company's stock after purchasing an additional 273,392 shares during the quarter. Pictet Asset Management Holding SA owned 1.39% of Alliant Energy worth $228,418,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Parallel Advisors LLC grew its holdings in shares of Alliant Energy by 26.9% in the third quarter. Parallel Advisors LLC now owns 4,742 shares of the company's stock worth $300,000 after acquiring an additional 1,005 shares during the period. Alps Advisors Inc. lifted its holdings in Alliant Energy by 3.4% in the third quarter. Alps Advisors Inc. now owns 54,215 shares of the company's stock valued at $3,432,000 after acquiring an additional 1,797 shares during the period. Ashton Thomas Private Wealth LLC lifted its holdings in Alliant Energy by 16.4% in the third quarter. Ashton Thomas Private Wealth LLC now owns 8,347 shares of the company's stock valued at $528,000 after acquiring an additional 1,174 shares during the period. Heritage Family Offices LLP bought a new position in Alliant Energy in the third quarter valued at about $51,000. Finally, Kestra Advisory Services LLC boosted its position in Alliant Energy by 13.2% in the third quarter. Kestra Advisory Services LLC now owns 19,030 shares of the company's stock worth $1,205,000 after purchasing an additional 2,222 shares during the last quarter. Institutional investors own 79.90% of the company's stock.

Alliant Energy Trading Down 1.0%

NASDAQ:LNT opened at $72.67 on Friday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.51 and a quick ratio of 0.35. The firm has a market capitalization of $18.85 billion, a price-to-earnings ratio of 20.24, a price-to-earnings-growth ratio of 3.06 and a beta of 0.51. Alliant Energy Corporation has a one year low of $62.54 and a one year high of $78.81. The business has a fifty day moving average price of $67.43 and a 200-day moving average price of $70.63.

Alliant Energy (NASDAQ:LNT - Get Free Report) last announced its earnings results on Thursday, October 29th. The company reported $1.52 EPS for the quarter, topping analysts' consensus estimates of $1.31 by $0.21. The company had revenue of $1.28 billion for the quarter, compared to analysts' expectations of $1.26 billion. Alliant Energy had a return on equity of 12.43% and a net margin of 20.74%. Alliant Energy's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the firm earned $1.12 EPS. Sell-side analysts forecast that Alliant Energy Corporation will post 3.43 EPS for the current year.

Alliant Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Friday, October 30th will be paid a $0.5350 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $2.14 annualized dividend and a dividend yield of 2.9%. Alliant Energy's dividend payout ratio (DPR) is 59.61%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wall Street Zen upgraded Alliant Energy from a "strong sell" rating to a "sell" rating in a research note on Sunday. Jefferies Financial Group reaffirmed a "buy" rating and set a $75.00 price target on shares of Alliant Energy in a research report on Monday, October 12th. Wells Fargo & Company increased their price objective on shares of Alliant Energy from $81.00 to $82.00 and gave the stock an "overweight" rating in a research note on Monday, November 2nd. BMO Capital Markets reissued an "outperform" rating and issued a $75.00 price objective on shares of Alliant Energy in a report on Wednesday, October 14th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Alliant Energy in a research report on Monday, October 26th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Alliant Energy has a consensus rating of "Moderate Buy" and an average price target of $75.23.

Alliant Energy Profile

Alliant Energy Corporation is a regulated utility holding company that provides electric and natural gas services through its subsidiaries, Interstate Power and Light Company and Wisconsin Power and Light Company. Its service territory includes communities across Iowa and Wisconsin.

The company's operations include generating, transmitting and distributing electricity, as well as distributing natural gas. Its energy portfolio includes a mix of resources, including wind and solar power, natural gas and other generation sources.

Alliant Energy traces its roots to utility businesses that served the Midwest in the early 20th century.

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