Chicago Partners Investment Group LLC Makes New $302,000 Investment in Alliant Energy Corporation $LNT

Key Points

• Chicago Partners Investment Group LLC invested $302,000 in Alliant Energy Corporation, acquiring approximately 4,654 shares during the second quarter of 2023.
• Alliant Energy reported earnings of $0.68 EPS for the last quarter, exceeding analysts' expectations of $0.62, with a year-over-year revenue growth of 7.5%.
• The company declared a quarterly dividend of $0.5075 per share, representing an annualized yield of 2.9%, with the ex-dividend date set for October 31st.

Chicago Partners Investment Group LLC bought a new position in shares of Alliant Energy Corporation (NASDAQ:LNT - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,654 shares of the company's stock, valued at approximately $302,000.

Several other institutional investors have also recently made changes to their positions in LNT. Hughes Financial Services LLC purchased a new stake in shares of Alliant Energy during the first quarter worth about $27,000. Alpine Bank Wealth Management purchased a new stake in shares of Alliant Energy during the first quarter worth about $29,000. Global Trust Asset Management LLC purchased a new stake in shares of Alliant Energy during the second quarter worth about $30,000. Bartlett & CO. Wealth Management LLC grew its position in shares of Alliant Energy by 81.6% during the second quarter. Bartlett & CO. Wealth Management LLC now owns 494 shares of the company's stock worth $30,000 after purchasing an additional 222 shares in the last quarter. Finally, Tsfg LLC purchased a new stake in shares of Alliant Energy during the first quarter worth about $34,000. Hedge funds and other institutional investors own 79.90% of the company's stock.

Alliant Energy Price Performance

NASDAQ:LNT opened at $68.97 on Friday. The firm has a market capitalization of $17.72 billion, a price-to-earnings ratio of 21.29, a PEG ratio of 3.24 and a beta of 0.54. Alliant Energy Corporation has a 1 year low of $56.08 and a 1 year high of $69.75. The business has a 50 day simple moving average of $66.11 and a 200-day simple moving average of $63.46. 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 posted its quarterly earnings data on Thursday, August 7th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.06. The business had revenue of $961.00 million during the quarter, compared to analyst estimates of $977.15 million. Alliant Energy had a return on equity of 12.25% and a net margin of 20.07%.The company's revenue for the quarter was up 7.5% on a year-over-year basis. During the same period last year, the company earned $0.57 EPS. Alliant Energy has set its FY 2025 guidance at 3.150-3.25 EPS. Equities analysts forecast that Alliant Energy Corporation will post 3.23 EPS for the current year.

Alliant Energy Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, October 31st. Alliant Energy's dividend payout ratio (DPR) is currently 62.65%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Bank of America increased their target price on Alliant Energy from $70.00 to $74.00 and gave the stock a "buy" rating in a research report on Friday, October 17th. Wolfe Research upgraded Alliant Energy from a "peer perform" rating to an "outperform" rating and set a $68.00 price target for the company in a report on Monday, July 7th. Weiss Ratings restated a "buy (b-)" rating on shares of Alliant Energy in a report on Friday. Wall Street Zen upgraded Alliant Energy from a "sell" rating to a "hold" rating in a report on Sunday, September 28th. Finally, BMO Capital Markets raised their price target on Alliant Energy from $68.00 to $71.00 and gave the company a "market perform" rating in a report on Friday, October 17th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $68.56.

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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