Bank of Nova Scotia Invests $2.06 Million in Alliant Energy Corporation $LNT

Key Points

• Bank of Nova Scotia purchased 27,072 shares of Alliant Energy valued at approximately $2.06 million. Institutional investors collectively own 79.9% of the company.
• Analysts maintain a generally positive outlook, with nine Buy ratings and five Holds, producing a “Moderate Buy” consensus and an average price target of $76.82.
• Alliant Energy exceeded quarterly expectations with $0.65 in EPS and $971 million in revenue, while paying a quarterly dividend of $0.535, equivalent to a 3.1% annualized yield.

Bank of Nova Scotia purchased a new stake in shares of Alliant Energy Corporation (NASDAQ:LNT - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 27,072 shares of the company's stock, valued at approximately $2,065,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Alliant Energy by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 33,785,294 shares of the company's stock worth $2,196,382,000 after buying an additional 383,612 shares during the period. Janus Henderson Group PLC increased its stake in shares of Alliant Energy by 1.2% during the first quarter. Janus Henderson Group PLC now owns 11,273,621 shares of the company's stock valued at $808,996,000 after buying an additional 138,683 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Alliant Energy by 799.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,393,496 shares of the company's stock valued at $545,662,000 after acquiring an additional 7,460,117 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Alliant Energy by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 7,071,908 shares of the company's stock valued at $458,071,000 after acquiring an additional 128,998 shares in the last quarter. Finally, Cohen & Steers Inc. lifted its stake in Alliant Energy by 41.7% in the fourth quarter. Cohen & Steers Inc. now owns 3,614,890 shares of the company's stock worth $235,004,000 after acquiring an additional 1,063,268 shares during the period. Institutional investors own 79.90% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on LNT shares. BMO Capital Markets reduced their price objective on shares of Alliant Energy from $80.00 to $78.00 and set an "outperform" rating on the stock in a research report on Monday, August 3rd. Scotiabank reaffirmed a "sector perform" rating and set a $74.00 target price (up from $72.00) on shares of Alliant Energy in a research note on Monday, May 4th. Weiss Ratings cut Alliant Energy from a "buy (b+)" rating to a "buy (b)" rating in a research report on Tuesday, July 28th. Mizuho reduced their target price on Alliant Energy from $76.00 to $75.00 and set a "neutral" rating on the stock in a report on Monday, August 3rd. Finally, TD Cowen assumed coverage on Alliant Energy in a research report on Tuesday, July 7th. They issued a "hold" rating and a $83.00 target price for the company. Nine analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $76.82.

Alliant Energy Price Performance

NASDAQ LNT opened at $68.92 on Thursday. The stock has a 50-day moving average of $73.06 and a 200 day moving average of $72.22. Alliant Energy Corporation has a one year low of $63.28 and a one year high of $78.81. The company has a market capitalization of $17.87 billion, a price-to-earnings ratio of 21.81, a PEG ratio of 2.54 and a beta of 0.55. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.35 and a current ratio of 0.47.

Alliant Energy (NASDAQ:LNT - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.65 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.07. The company had revenue of $971.00 million during the quarter, compared to analysts' expectations of $896.94 million. Alliant Energy had a return on equity of 11.16% and a net margin of 18.45%.Alliant Energy's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.68 earnings per share. Alliant Energy has set its FY 2026 guidance at 3.360-3.460 EPS. On average, sell-side analysts forecast that Alliant Energy Corporation will post 3.43 EPS for the current year.

Alliant Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Friday, July 31st were paid a $0.535 dividend. This represents a $2.14 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Friday, July 31st. Alliant Energy's dividend payout ratio is 67.72%.

Alliant Energy Company Profile

Alliant Energy Corporation NASDAQ: LNT is a publicly traded energy holding company headquartered in Madison, Wisconsin, that provides regulated electric and natural gas utility services in the American Midwest. The company serves customers primarily in Wisconsin and Iowa through its regulated utility subsidiaries and operates as an integrated provider responsible for generation, transmission and distribution of energy to residential, commercial and industrial customers.

Alliant Energy's core activities include operating and maintaining electric generation assets, managing the regional transmission and distribution network, and delivering natural gas service to its franchise territories.

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