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 first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,304 shares of the company's stock after buying an additional 9,401 shares during the quarter. Everstar Asset Management LLC's holdings in Alliant Energy were worth $856,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Alliant Energy by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 32,822,215 shares of the company's stock valued at $2,112,110,000 after buying an additional 158,507 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Alliant Energy by 0.7% in the 4th quarter. Janus Henderson Group PLC now owns 10,768,159 shares of the company's stock valued at $636,829,000 after buying an additional 76,987 shares in the last quarter. Northern Trust Corp grew its holdings in Alliant Energy by 1.3% in the 1st quarter. Northern Trust Corp now owns 2,443,014 shares of the company's stock valued at $157,208,000 after buying an additional 30,608 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Alliant Energy by 0.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,270,594 shares of the company's stock valued at $146,113,000 after buying an additional 17,681 shares in the last quarter. Finally, Johnson Investment Counsel Inc. grew its holdings in Alliant Energy by 3.1% in the 1st quarter. Johnson Investment Counsel Inc. now owns 1,872,409 shares of the company's stock valued at $120,490,000 after buying an additional 56,640 shares in the last quarter. 79.90% of the stock is owned by institutional investors and hedge funds.

Alliant Energy Price Performance

NASDAQ:LNT traded up $0.18 during trading hours on Friday, hitting $64.84. The company's stock had a trading volume of 743,087 shares, compared to its average volume of 1,967,789. The stock has a fifty day simple moving average of $64.56 and a 200-day simple moving average of $62.70. The company has a market capitalization of $16.66 billion, a P/E ratio of 20.01, a PEG ratio of 3.02 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 Corporation has a twelve month low of $56.08 and a twelve month high of $67.11.

Alliant Energy (NASDAQ:LNT - Get Free Report) last released its quarterly earnings data 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. 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%.Alliant Energy's revenue was up 7.5% compared to the same quarter last year. During the same period last year, the firm posted $0.57 earnings per share. Alliant Energy has set its FY 2025 guidance at 3.150-3.25 EPS. On average, analysts anticipate that Alliant Energy Corporation will post 3.23 EPS for the current fiscal year.

Alliant Energy Announces Dividend

The firm also recently disclosed 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 of this dividend was Thursday, July 31st. This represents a $2.03 annualized dividend and a yield of 3.1%. Alliant Energy's dividend payout ratio (DPR) is 62.65%.

Analysts Set New Price Targets

A number of research analysts have commented on LNT shares. Jefferies Financial Group set a $71.00 price objective on Alliant Energy and gave the company a "buy" rating in a report on Tuesday, May 20th. Wall Street Zen raised Alliant Energy from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. BMO Capital Markets reissued a "market perform" rating and set a $68.00 target price (up from $66.00) on shares of Alliant Energy in a report on Monday, August 11th. Bank of America increased their target price on Alliant Energy from $68.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, August 14th. Finally, UBS Group reissued 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. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $65.50.

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.