Carnegie Investment Counsel Has $36.18 Million Position in Alliant Energy Corporation $LNT

Key Points

• Carnegie Investment Counsel has increased its stake in Alliant Energy Corporation by 12.5%, now owning approximately 0.23% of the company, valued at $36.18 million.
• Institutional ownership of Alliant Energy is high, with 79.90% of the stock held by institutional investors and hedge funds.
• Alliant Energy recently reported a quarterly EPS of $0.68, beating estimates, and announced a dividend of $0.5075 per share to be paid on November 17th.

Carnegie Investment Counsel increased its stake in shares of Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 12.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 598,339 shares of the company's stock after purchasing an additional 66,656 shares during the quarter. Carnegie Investment Counsel owned approximately 0.23% of Alliant Energy worth $36,182,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. GAMMA Investing LLC lifted its stake in Alliant Energy by 8.3% in the first quarter. GAMMA Investing LLC now owns 17,312 shares of the company's stock valued at $1,114,000 after acquiring an additional 1,328 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Alliant Energy by 1.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 65,585 shares of the company's stock valued at $4,220,000 after acquiring an additional 1,198 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Alliant Energy in the first quarter valued at approximately $479,000. Continuum Advisory LLC lifted its stake in Alliant Energy by 1,561.8% in the first quarter. Continuum Advisory LLC now owns 1,130 shares of the company's stock valued at $73,000 after acquiring an additional 1,062 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its stake in Alliant Energy by 5.1% in the first quarter. Asset Management One Co. Ltd. now owns 168,981 shares of the company's stock valued at $10,874,000 after acquiring an additional 8,133 shares during the last quarter. 79.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LNT has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Alliant Energy from a "sell" rating to a "hold" rating in a research note on Sunday, September 28th. Bank of America lifted their target price on shares of Alliant Energy from $70.00 to $74.00 and gave the company a "buy" rating in a research note on Friday, October 17th. Wolfe Research upgraded shares of Alliant Energy from a "peer perform" rating to an "outperform" rating and set a $68.00 target price for the company in a research note on Monday, July 7th. UBS Group set a $74.00 target price on shares of Alliant Energy and gave the company a "neutral" rating in a research note on Friday, October 10th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Alliant Energy in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $68.00.

Alliant Energy Price Performance

NASDAQ:LNT opened at $68.60 on Friday. The stock has a market cap of $17.63 billion, a P/E ratio of 21.17, a PEG ratio of 3.24 and a beta of 0.54. Alliant Energy Corporation has a one year low of $56.08 and a one year high of $69.16. The company has a fifty day moving average price of $66.02 and a 200 day moving average price of $63.39. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.57 and a quick ratio of 0.46.

Alliant Energy (NASDAQ:LNT - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.68 EPS for the quarter, beating the consensus estimate 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 net margin of 20.07% and a return on equity of 12.25%. The business's quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the company earned $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 business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Friday, October 31st will be paid a dividend of $0.5075 per share. This represents a $2.03 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, October 31st. Alliant Energy's dividend payout ratio is presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.