Assenagon Asset Management S.A. Acquires 71,376 Shares of Alliant Energy Corporation $LNT

Key Points

• Assenagon Asset Management S.A. significantly increased its stake in Alliant Energy Corporation by 1,331.1%, acquiring an additional 71,376 shares in the second quarter, bringing its total holdings to 76,738 shares.
• Alliant Energy reported earnings of $0.68 per share, exceeding estimates by $0.06, with revenue of $961 million for the quarter, reflecting a 7.5% year-over-year increase.
• Research analysts have set new price targets, with Bank of America raising its objective from $68.00 to $70.00, and the average target price across analysts currently stands at $65.50.

Assenagon Asset Management S.A. raised its holdings in shares of Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 1,331.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,738 shares of the company's stock after acquiring an additional 71,376 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Alliant Energy were worth $4,640,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hughes Financial Services LLC bought a new stake in Alliant Energy during the first quarter valued at about $27,000. Alpine Bank Wealth Management purchased a new position in shares of Alliant Energy during the first quarter valued at about $29,000. Tsfg LLC purchased a new position in shares of Alliant Energy during the first quarter valued at about $34,000. TD Private Client Wealth LLC purchased a new position in shares of Alliant Energy during the first quarter valued at about $34,000. Finally, First Command Advisory Services Inc. purchased a new position in shares of Alliant Energy during the first quarter valued at about $34,000. 79.90% of the stock is owned by institutional investors.

Alliant Energy Stock Up 1.0%

Shares of NASDAQ LNT opened at $65.47 on Thursday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.57 and a quick ratio of 0.46. The company has a market cap of $16.82 billion, a P/E ratio of 20.21, a PEG ratio of 3.05 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 has a 50-day simple moving average of $64.97 and a two-hundred day simple moving average of $62.73.

Alliant Energy (NASDAQ:LNT - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.06. The business 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 firm's quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.57 earnings per share. Alliant Energy has set its FY 2025 guidance at 3.150-3.25 EPS. Research analysts anticipate that Alliant Energy Corporation will post 3.23 earnings per share for the current year.

Alliant Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 31st were paid a $0.5075 dividend. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $2.03 annualized dividend and a yield of 3.1%. Alliant Energy's dividend payout ratio (DPR) is presently 62.65%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. UBS Group restated a "neutral" rating and set a $67.00 price objective (up previously from $65.00) on shares of Alliant Energy in a research report on Friday, July 11th. Bank of America raised their price objective on Alliant Energy from $68.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday, August 14th. BMO Capital Markets restated a "market perform" rating and set a $68.00 price objective (up previously from $66.00) on shares of Alliant Energy in a research report on Monday, August 11th. Wolfe Research upgraded Alliant Energy from a "peer perform" rating to an "outperform" rating and set a $68.00 price objective for the company in a research report on Monday, July 7th. Finally, Wall Street Zen lowered Alliant Energy from a "hold" rating to a "sell" rating in a research report on Saturday, September 20th. Four equities 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. According to MarketBeat, the company currently has an average rating of "Hold" and an average 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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