Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 135,272 Alliant Energy Corporation (NASDAQ:LNT)

Key Points

• Connor Clark & Lunn Investment Management Ltd. recently acquired a stake in Alliant Energy Corporation, purchasing 135,272 shares valued at approximately $8.7 million, representing about 0.05% of the company's total stock.
• Alliant Energy reported a Q2 EPS of $0.68, exceeding analysts' expectations of $0.62, with a year-over-year revenue increase of 7.5%.
• The company announced a quarterly dividend of $0.5075 per share, set to be paid on August 15, with a dividend yield of 3.1% and a payout ratio of 62.65%.

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Alliant Energy Corporation (NASDAQ:LNT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 135,272 shares of the company's stock, valued at approximately $8,705,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.05% of Alliant Energy at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Townsquare Capital LLC grew its stake in shares of Alliant Energy by 12.1% in the 1st quarter. Townsquare Capital LLC now owns 5,472 shares of the company's stock valued at $352,000 after buying an additional 589 shares during the period. Morton Community Bank grew its stake in shares of Alliant Energy by 0.8% in the 1st quarter. Morton Community Bank now owns 62,733 shares of the company's stock valued at $4,037,000 after buying an additional 510 shares during the period. Founders Financial Alliance LLC purchased a new stake in shares of Alliant Energy in the 1st quarter valued at approximately $229,000. Forsta AP Fonden grew its stake in shares of Alliant Energy by 4.5% in the 1st quarter. Forsta AP Fonden now owns 62,900 shares of the company's stock valued at $4,048,000 after buying an additional 2,700 shares during the period. Finally, National Bank of Canada FI grew its stake in shares of Alliant Energy by 34.1% in the 1st quarter. National Bank of Canada FI now owns 286,083 shares of the company's stock valued at $18,409,000 after buying an additional 72,701 shares during the period. Hedge funds and other institutional investors own 79.90% of the company's stock.

Wall Street Analyst Weigh In

LNT has been the topic of a number of research reports. Wolfe Research upgraded shares of Alliant Energy from a "peer perform" rating to an "outperform" rating and set a $68.00 target price on the stock in a report on Monday, July 7th. Barclays lowered shares of Alliant Energy from an "equal weight" rating to an "underweight" rating and increased their target price for the stock from $59.00 to $61.00 in a report on Tuesday, April 22nd. Wall Street Zen upgraded shares of Alliant Energy from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. Bank of America increased their target price on shares of Alliant Energy from $68.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday. Finally, UBS Group reiterated a "neutral" rating and set a $67.00 target price (up from $65.00) on shares of Alliant Energy in a report on Friday, July 11th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $65.50.

Alliant Energy Price Performance

LNT traded down $0.10 during midday trading on Friday, reaching $64.62. 3,185,516 shares of the company's stock were exchanged, compared to its average volume of 1,895,437. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.57 and a quick ratio of 0.24. The stock has a market capitalization of $16.61 billion, a PE ratio of 19.94, a P/E/G ratio of 3.05 and a beta of 0.53. The business's 50-day moving average price is $62.87 and its 200 day moving average price is $62.09. Alliant Energy Corporation has a 1-year low of $56.08 and a 1-year high of $66.76.

Alliant Energy (NASDAQ:LNT - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.68 EPS for the quarter, topping analysts' consensus estimates 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 company's quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.57 earnings per share. As a group, equities analysts anticipate that Alliant Energy Corporation will post 3.23 EPS for the current fiscal year.

Alliant Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 31st were issued a $0.5075 dividend. This represents a $2.03 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Thursday, July 31st. Alliant Energy's 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.