Credit Agricole S A Cuts Stake in Alliant Energy Corporation $LNT

Key Points

• Credit Agricole S A reduced its stake in Alliant Energy Corporation (NASDAQ:LNT) by 82.9%, selling 57,249 shares in the first quarter, leaving it with 11,849 shares valued at $762,000.
• Alliant Energy reported earnings of $0.68 per share for the last quarter, exceeding analyst estimates, and had quarterly revenue of $961 million, which was below consensus expectations.
• The company declared a quarterly dividend of $0.5075 per share, reflecting an annual yield of 3.1% with a payoff ratio of 62.65%.

Credit Agricole S A trimmed its holdings in Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 82.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,849 shares of the company's stock after selling 57,249 shares during the period. Credit Agricole S A's holdings in Alliant Energy were worth $762,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in LNT. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Alliant Energy in the first quarter valued at $82,496,000. GAMMA Investing LLC grew its holdings in Alliant Energy by 6,869.6% during the 1st quarter. GAMMA Investing LLC now owns 1,114,027 shares of the company's stock valued at $71,688,000 after buying an additional 1,098,043 shares in the last quarter. Carnegie Investment Counsel purchased a new position in Alliant Energy during the 1st quarter valued at about $34,210,000. Balyasny Asset Management L.P. purchased a new position in Alliant Energy during the 4th quarter valued at about $24,396,000. Finally, Hudson Bay Capital Management LP purchased a new position in Alliant Energy during the 4th quarter valued at about $19,853,000. 79.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on LNT. Wolfe Research raised shares of Alliant Energy from a "peer perform" rating to an "outperform" rating and set a $68.00 price objective for the company in a research note on Monday, July 7th. Bank of America boosted their price target on shares of Alliant Energy from $68.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday, August 14th. Wall Street Zen upgraded shares of Alliant Energy from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. Jefferies Financial Group set a $71.00 target price on Alliant Energy and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Finally, BMO Capital Markets restated a "market perform" rating and set a $68.00 target price (up from $66.00) on shares of Alliant Energy in a research report on Monday, August 11th. Four investment 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's stock. According to data from MarketBeat.com, Alliant Energy presently has a consensus rating of "Hold" and an average price target of $65.50.

Alliant Energy Price Performance

LNT stock traded up $0.05 during midday trading on Friday, reaching $65.07. The company had a trading volume of 1,669,629 shares, compared to its average volume of 2,035,713. 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 moving average price of $63.90 and a 200-day moving average price of $62.55. The company has a market capitalization of $16.72 billion, a P/E ratio of 20.08, a P/E/G ratio of 3.07 and a beta of 0.54. 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 announced its earnings results 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. Alliant Energy had a net margin of 20.07% and a return on equity of 12.25%. The company had revenue of $961.00 million during the quarter, compared to analyst estimates of $977.15 million. During the same period in the previous year, the business earned $0.57 earnings per share. The firm's quarterly revenue was up 7.5% compared to the same quarter last year. Alliant Energy has set its FY 2025 guidance at 3.150-3.25 EPS. On average, research analysts anticipate that Alliant Energy Corporation will post 3.23 earnings per share for the current fiscal year.

Alliant Energy Announces Dividend

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

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.