297,450 Shares in Alliant Energy Corporation $LNT Purchased by HITE Hedge Asset Management LLC

Key Points

• HITE Hedge Asset Management LLC has acquired a new position in Alliant Energy, purchasing 297,450 shares valued at approximately $19.14 million, representing 1.2% of its portfolio.
• Alliant Energy recently received upgrades from multiple analysts, with Bank of America increasing its target price from $68.00 to $70.00 and Jefferies Financial Group setting a target price of $71.00.
• The company announced a quarterly dividend of $0.5075, yielding approximately 3.1%, with a dividend payout ratio of 62.65%.

HITE Hedge Asset Management LLC purchased a new position in Alliant Energy Corporation (NASDAQ:LNT - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 297,450 shares of the company's stock, valued at approximately $19,141,000. Alliant Energy comprises 1.2% of HITE Hedge Asset Management LLC's holdings, making the stock its 27th largest position. HITE Hedge Asset Management LLC owned approximately 0.12% of Alliant Energy as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of LNT. Hughes Financial Services LLC purchased a new position in shares of Alliant Energy in the 1st quarter worth $27,000. Alpine Bank Wealth Management purchased a new position in Alliant Energy during the first quarter valued at $29,000. Tsfg LLC purchased a new position in Alliant Energy during the first quarter valued at $34,000. TD Private Client Wealth LLC purchased a new position in Alliant Energy during the first quarter valued at $34,000. Finally, First Command Advisory Services Inc. purchased a new position in Alliant Energy during the first quarter valued at $34,000. 79.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Alliant Energy Price Performance

Shares of LNT stock traded up $0.86 during trading hours on Friday, hitting $66.97. The stock had a trading volume of 2,248,226 shares, compared to its average volume of 2,004,805. The stock has a market capitalization of $17.21 billion, a price-to-earnings ratio of 20.67, a PEG ratio of 3.12 and a beta of 0.53. 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 current ratio of 0.57 and a quick ratio of 0.46. The stock's 50-day moving average price is $63.37 and its two-hundred day moving average price is $62.33.

Alliant Energy (NASDAQ:LNT - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.62 by $0.06. The company had revenue of $961.00 million during 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% on a year-over-year basis. During the same quarter last year, the business posted $0.57 earnings per share. Alliant Energy has set its FY 2025 guidance at 3.150-3.25 EPS. Equities analysts forecast that Alliant Energy Corporation will post 3.23 EPS for the current year.

Alliant Energy Dividend Announcement

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