Everstar Asset Management LLC Purchases 9,401 Shares of Alliant Energy Corporation $LNT

Key Points

• Everstar Asset Management LLC significantly increased its stake in Alliant Energy Corporation by 240.9%, now holding 13,304 shares valued at $856,000.
• Goldman Sachs also boosted its position in Alliant Energy by 98.7%, owning over a million shares worth nearly $70 million after purchasing additional shares recently.
• Alliant Energy reported quarterly earnings of $0.68 per share, exceeding analysts' expectations of $0.62, and announced a quarterly dividend yielding 3.1%.

Everstar Asset Management LLC raised its position in Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 240.9% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 13,304 shares of the company's stock after acquiring an additional 9,401 shares during the period. Everstar Asset Management LLC's holdings in Alliant Energy were worth $856,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Hughes Financial Services LLC bought a new stake in Alliant Energy in the 1st quarter valued at approximately $27,000. Alpine Bank Wealth Management acquired a new position in shares of Alliant Energy during the 1st quarter worth approximately $29,000. TD Private Client Wealth LLC acquired a new position in shares of Alliant Energy during the 1st quarter worth approximately $34,000. First Command Advisory Services Inc. acquired a new position in shares of Alliant Energy during the 1st quarter worth approximately $34,000. Finally, Tsfg LLC acquired a new position in shares of Alliant Energy during the 1st quarter worth approximately $34,000. Institutional investors own 79.90% of the company's stock.

Wall Street Analysts Forecast Growth

LNT has been the topic of several recent analyst reports. Bank of America boosted their price target on Alliant Energy from $68.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, August 14th. UBS Group reaffirmed a "neutral" rating and set a $67.00 price target (up previously from $65.00) on shares of Alliant Energy in a research report on Friday, July 11th. BMO Capital Markets reaffirmed a "market perform" rating and set a $68.00 price target (up previously from $66.00) on shares of Alliant Energy in a research report on Monday, August 11th. Wolfe Research raised Alliant Energy from a "peer perform" rating to an "outperform" rating and set a $68.00 price target on the stock in a research report on Monday, July 7th. Finally, Jefferies Financial Group set a $71.00 price target on Alliant Energy and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $65.50.

Alliant Energy Stock Performance

Shares of LNT stock traded up $0.20 during trading on Friday, reaching $64.86. 1,127,278 shares of the company's stock were exchanged, compared to its average volume of 1,853,968. The company has a quick ratio of 0.46, a current ratio of 0.57 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $16.67 billion, a PE ratio of 20.02, a PEG ratio of 3.05 and a beta of 0.54. Alliant Energy Corporation has a twelve month low of $56.08 and a twelve month high of $67.11. The firm's fifty day moving average price is $64.62 and its 200-day moving average price is $62.70.

Alliant Energy (NASDAQ:LNT - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.68 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.06. The business had revenue of $961.00 million for 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 firm's revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.57 EPS. Alliant Energy has set its FY 2025 guidance at 3.150-3.25 EPS. As a group, sell-side analysts anticipate that Alliant Energy Corporation will post 3.23 EPS for the current year.

Alliant Energy Dividend Announcement

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