Alliant Energy Corporation (NASDAQ:LNT) Position Boosted by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management Co. Ltd. increased its holdings in Alliant Energy Corporation by 6.1%, bringing the total to 94,162 shares valued at approximately $6,050,000.
• Brokerages have issued varied ratings for Alliant Energy, with Wolfe Research upgrading it to "outperform" with a price target of $68.00 and Barclays lowering its rating to "underweight" while raising the price target to $61.00.
• Alliant Energy reported earnings of $0.68 per share, exceeding analysts' expectations, and announced a quarterly dividend of $0.5075, reflecting a dividend yield of 3.1%.

Resona Asset Management Co. Ltd. increased its holdings in Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 6.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,162 shares of the company's stock after buying an additional 5,419 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Alliant Energy were worth $6,050,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Teacher Retirement System of Texas bought a new position in Alliant Energy during the 1st quarter valued at $2,414,000. Sowell Financial Services LLC bought a new position in Alliant Energy during the 1st quarter valued at $316,000. Wealth Enhancement Advisory Services LLC boosted its stake in Alliant Energy by 1.9% during 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 in the last quarter. State of Alaska Department of Revenue boosted its stake in Alliant Energy by 2.7% during 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 in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in Alliant Energy by 112.9% during the 1st quarter. Farther Finance Advisors LLC now owns 5,860 shares of the company's stock valued at $378,000 after purchasing an additional 3,108 shares in the last quarter. 79.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on LNT. Wolfe Research raised Alliant Energy from a "peer perform" rating to an "outperform" rating and set a $68.00 price target for the company in a research note on Monday, July 7th. Barclays lowered Alliant Energy from an "equal weight" rating to an "underweight" rating and increased their price target for the company from $59.00 to $61.00 in a research note on Tuesday, April 22nd. 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 note on Friday, July 11th. Bank of America raised 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. Finally, Wall Street Zen raised Alliant Energy from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Alliant Energy currently has a consensus rating of "Hold" and an average target price of $65.50.

Alliant Energy Price Performance

LNT opened at $64.62 on Friday. The stock has a fifty day moving average of $62.87 and a 200-day moving average of $62.09. The firm has a market capitalization of $16.61 billion, a P/E ratio of 19.94, a PEG ratio of 3.05 and a beta of 0.53. Alliant Energy Corporation has a 12-month low of $56.08 and a 12-month high of $66.76. The company has a quick ratio of 0.24, a current ratio of 0.57 and a debt-to-equity ratio of 1.35.

Alliant Energy (NASDAQ:LNT - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.06. The company had revenue of $961.00 million during the quarter, compared to analyst estimates of $977.15 million. Alliant Energy had a return on equity of 12.25% and a net margin of 20.07%. The company's revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 earnings per share. Equities analysts forecast that Alliant Energy Corporation will post 3.23 EPS for the current fiscal year.

Alliant Energy Dividend Announcement

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