Allstate Corp Acquires 6,958 Shares of 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 lifted its position in shares of Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 87.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,945 shares of the company's stock after purchasing an additional 6,958 shares during the period. Allstate Corp's holdings in Alliant Energy were worth $962,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of LNT. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Alliant Energy during the 1st quarter worth about $82,496,000. GAMMA Investing LLC increased its stake in shares of Alliant Energy by 6,869.6% during the 1st quarter. GAMMA Investing LLC now owns 1,114,027 shares of the company's stock worth $71,688,000 after purchasing an additional 1,098,043 shares during the last quarter. Carnegie Investment Counsel acquired a new position in shares of Alliant Energy during the 1st quarter worth about $34,210,000. Balyasny Asset Management L.P. acquired a new position in shares of Alliant Energy during the 4th quarter worth about $24,396,000. Finally, Hudson Bay Capital Management LP acquired a new position in shares of Alliant Energy during the 4th quarter worth about $19,853,000. 79.90% of the stock is currently owned by institutional investors and hedge funds.

Alliant Energy Stock Performance

NASDAQ LNT opened at $66.97 on Monday. The company has a quick ratio of 0.46, a current ratio of 0.57 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $17.21 billion, a P/E ratio of 20.67, a P/E/G ratio of 3.16 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. The firm has a 50-day moving average price of $63.37 and a two-hundred day moving average price of $62.37.

Alliant Energy (NASDAQ:LNT - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $961.00 million during the quarter, compared to the consensus estimate of $977.15 million. Alliant Energy had a net margin of 20.07% and a return on equity of 12.25%. The business's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.57 EPS. Alliant Energy has set its FY 2025 guidance at 3.150-3.25 EPS. Analysts anticipate that Alliant Energy Corporation will post 3.23 earnings per share for the current year.

Alliant Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 31st were issued a $0.5075 dividend. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $2.03 dividend on an annualized basis and a yield of 3.0%. Alliant Energy's payout ratio is currently 62.65%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Jefferies Financial Group set a $71.00 price objective on shares of Alliant Energy and gave the stock a "buy" rating in a research note on Tuesday, May 20th. BMO Capital Markets reiterated a "market perform" rating and issued a $68.00 price target (up previously from $66.00) on shares of Alliant Energy in a research note on Monday, August 11th. Wall Street Zen upgraded shares of Alliant Energy from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. Bank of America upped their price target on shares of Alliant Energy from $68.00 to $70.00 and gave the company a "buy" rating in a research note on Thursday, August 14th. Finally, Wolfe Research upgraded shares of Alliant Energy from a "peer perform" rating to an "outperform" rating and set a $68.00 price target on the stock in a research note on Monday, July 7th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $65.50.

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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