Drake & Associates LLC Purchases 17,022 Shares of Alliant Energy Corporation $LNT

Key Points

• Drake & Associates LLC increased its holdings in Alliant Energy Corporation by 58.1%, acquiring an additional 17,022 shares and now owns a total of 46,340 shares worth approximately $2.8 million.
• Alliant Energy's stock opened at $68.12 and has a market capitalization of $17.50 billion, with a price-to-earnings ratio of 21.02.
• The company announced a quarterly dividend of $0.5075, representing an annualized yield of 3.0% and a payout ratio of 62.65%.

Drake & Associates LLC lifted its position in shares of Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 58.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 46,340 shares of the company's stock after acquiring an additional 17,022 shares during the quarter. Alliant Energy makes up 0.7% of Drake & Associates LLC's investment portfolio, making the stock its 25th largest position. Drake & Associates LLC's holdings in Alliant Energy were worth $2,802,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in LNT. Teacher Retirement System of Texas purchased a new stake in Alliant Energy during the first quarter valued at about $2,414,000. Sowell Financial Services LLC bought a new stake in shares of Alliant Energy in the first quarter valued at approximately $316,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Alliant Energy by 1.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 65,585 shares of the company's stock valued at $4,220,000 after buying an additional 1,198 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Alliant Energy by 19.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,413 shares of the company's stock worth $3,566,000 after buying an additional 8,959 shares during the period. Finally, State of Alaska Department of Revenue grew its stake in Alliant Energy by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 30,063 shares of the company's stock valued at $1,934,000 after buying an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 79.90% of the company's stock.

Alliant Energy Price Performance

NASDAQ:LNT opened at $68.12 on Tuesday. The firm has a market capitalization of $17.50 billion, a price-to-earnings ratio of 21.02, a P/E/G ratio of 3.14 and a beta of 0.54. 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 stock has a fifty day moving average of $65.32 and a 200 day moving average of $62.93. Alliant Energy Corporation has a 52-week low of $56.08 and a 52-week high of $68.19.

Alliant Energy (NASDAQ:LNT - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.06. Alliant Energy had a return on equity of 12.25% and a net margin of 20.07%.The firm had revenue of $961.00 million for the quarter, compared to analysts' expectations of $977.15 million. During the same quarter last year, the firm posted $0.57 EPS. The company's 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 expect that Alliant Energy Corporation will post 3.23 EPS for the current fiscal year.

Alliant Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 31st were paid a $0.5075 dividend. This represents a $2.03 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Thursday, July 31st. Alliant Energy's payout ratio is currently 62.65%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LNT. Wall Street Zen raised shares of Alliant Energy from a "sell" rating to a "hold" rating in a report on Sunday, September 28th. BMO Capital Markets reiterated a "market perform" rating and set a $68.00 price objective (up from $66.00) on shares of Alliant Energy in a research note on Monday, August 11th. UBS Group reissued 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. Weiss Ratings restated a "buy (b-)" rating on shares of Alliant Energy in a research note on Saturday, September 27th. Finally, Bank of America upped their price target on Alliant Energy from $68.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday, August 14th. Five investment analysts have rated the stock with a Buy rating, four 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 has an average rating of "Hold" and a consensus target price of $66.00.

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.

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