Dark Forest Capital Management LP Boosts Position in Alliant Energy Corporation $LNT

Key Points

• Dark Forest Capital Management LP significantly increased its stake in Alliant Energy Corporation by 532.7%, holding 63,637 shares valued at approximately $4,095,000.
• Several analysts upgraded their ratings for Alliant Energy, with BMO Capital Markets raising its price target from $66.00 to $68.00 and Bank of America increasing its target from $68.00 to $70.00.
• Alliant Energy declared a quarterly dividend of $0.5075 per share, reflecting an annualized dividend of $2.03 and a yield of 3.1%.

Dark Forest Capital Management LP increased its stake in Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 532.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,637 shares of the company's stock after buying an additional 53,579 shares during the period. Dark Forest Capital Management LP's holdings in Alliant Energy were worth $4,095,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in LNT. Hughes Financial Services LLC bought a new stake in shares of Alliant Energy in the first quarter valued at about $27,000. Alpine Bank Wealth Management bought a new stake in shares of Alliant Energy in the first quarter valued at about $29,000. Tsfg LLC bought a new stake in shares of Alliant Energy in the first quarter valued at about $34,000. TD Private Client Wealth LLC bought a new stake in shares of Alliant Energy in the first quarter valued at about $34,000. Finally, First Command Advisory Services Inc. bought a new stake in shares of Alliant Energy in the first quarter valued at about $34,000. 79.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on LNT shares. Wall Street Zen upgraded Alliant Energy from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. BMO Capital Markets reiterated a "market perform" rating and issued a $68.00 target price (up previously from $66.00) on shares of Alliant Energy in a research note on Monday, August 11th. Wolfe Research upgraded Alliant Energy from a "peer perform" rating to an "outperform" rating and set a $68.00 target price on the stock in a research note on Monday, July 7th. UBS Group reiterated a "neutral" rating and set a $67.00 price objective (up previously from $65.00) on shares of Alliant Energy in a report on Friday, July 11th. Finally, Bank of America increased their price objective on Alliant Energy from $68.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, August 14th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $65.50.

Alliant Energy Stock Down 0.6%

NASDAQ LNT opened at $64.66 on Wednesday. The business has a fifty day moving average price of $64.04 and a 200 day moving average price of $62.59. Alliant Energy Corporation has a one year low of $56.08 and a one year high of $67.11. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.57. The company has a market cap of $16.62 billion, a P/E ratio of 19.96, a P/E/G ratio of 3.07 and a beta of 0.54.

Alliant Energy (NASDAQ:LNT - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.06. Alliant Energy had a return on equity of 12.25% and a net margin of 20.07%.The business had revenue of $961.00 million during the quarter, compared to the consensus estimate of $977.15 million. During the same period last year, the company earned $0.57 EPS. The company's revenue for the quarter was up 7.5% on a year-over-year basis. Alliant Energy has set its FY 2025 guidance at 3.150-3.25 EPS. Research analysts anticipate that Alliant Energy Corporation will post 3.23 EPS for the current fiscal year.

Alliant Energy Dividend Announcement

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

Alliant Energy Company 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.

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.