Allstate Corp Increases Stock Holdings in Alliant Energy Corporation $LNT

Key Points

• Allstate Corp increased its holdings in Alliant Energy by 87.1%, acquiring an additional 6,958 shares, bringing its total to 14,945 shares valued at $962,000.
• Alliant Energy recently posted earnings of $0.68 EPS, exceeding analyst expectations, with a revenue of $961 million, which was lower than predictions.
• Wall Street analysts have mixed ratings on Alliant Energy, with four recommending a buy and a consensus target price of $65.50.

Allstate Corp increased its holdings in Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 87.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,945 shares of the company's stock after purchasing an additional 6,958 shares during the quarter. Allstate Corp's holdings in Alliant Energy were worth $962,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vaughan Nelson Investment Management L.P. acquired a new position in Alliant Energy during the first quarter worth approximately $82,496,000. GAMMA Investing LLC increased its stake in shares of Alliant Energy by 6,869.6% in the first quarter. GAMMA Investing LLC now owns 1,114,027 shares of the company's stock valued at $71,688,000 after purchasing an additional 1,098,043 shares during the period. Carnegie Investment Counsel acquired a new position in Alliant Energy in the first quarter worth approximately $34,210,000. Balyasny Asset Management L.P. acquired a new position in Alliant Energy in the 4th quarter worth approximately $24,396,000. Finally, Hudson Bay Capital Management LP acquired a new stake in shares of Alliant Energy during the 4th quarter valued at $19,853,000. Institutional investors and hedge funds own 79.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LNT. Wall Street Zen upgraded shares of Alliant Energy from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. BMO Capital Markets reissued a "market perform" rating and issued a $68.00 price objective (up from $66.00) on shares of Alliant Energy in a research report on Monday, August 11th. Bank of America lifted their price target on shares of Alliant Energy from $68.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, August 14th. Wolfe Research upgraded 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. Finally, Jefferies Financial Group set a $71.00 price objective on shares of Alliant Energy and gave the company a "buy" rating in a report on Tuesday, May 20th. Four equities research 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. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $65.50.

Alliant Energy Trading Up 0.1%

Shares of NASDAQ LNT traded up $0.05 during trading hours on Friday, hitting $65.07. 1,669,629 shares of the company traded hands, compared to its average volume of 2,033,578. The company's 50 day moving average price is $63.90 and its 200 day moving average price is $62.54. The stock has a market capitalization of $16.72 billion, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53. The company has a current ratio of 0.57, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35. 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 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 analysts' expectations of $977.15 million. Alliant Energy had a return on equity of 12.25% and a net margin of 20.07%.The firm's quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.57 EPS. Alliant Energy has set its FY 2025 guidance at 3.150-3.25 EPS. On average, equities research analysts anticipate that Alliant Energy Corporation will post 3.23 earnings per share for the current fiscal year.

Alliant Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 31st were issued a dividend of $0.5075 per share. The ex-dividend date was Thursday, July 31st. This represents a $2.03 annualized dividend and a yield of 3.1%. Alliant Energy's dividend payout ratio is 62.65%.

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.