Korea Investment CORP Reduces Stock Position in Alliant Energy Corporation $LNT

Key Points

• Korea Investment CORP reduced its stake in Alliant Energy Corporation by 33.5%, holding 126,974 shares valued at approximately $8.17 million after selling 63,901 shares in the first quarter.
• Alliant Energy reported quarterly earnings of $0.68 per share, surpassing analysts' expectations of $0.62, with a revenue of $961 million, which was less than the expected $977.15 million.
• The company declared a quarterly dividend of $0.5075 per share, yielding about 3.0%, with a dividend payout ratio of 62.65%.

Korea Investment CORP trimmed its position in shares of Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 33.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 126,974 shares of the company's stock after selling 63,901 shares during the period. Korea Investment CORP's holdings in Alliant Energy were worth $8,171,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Northern Trust Corp lifted its stake in Alliant Energy by 1.3% during the first quarter. Northern Trust Corp now owns 2,443,014 shares of the company's stock worth $157,208,000 after purchasing an additional 30,608 shares in the last quarter. Versor Investments LP purchased a new stake in shares of Alliant Energy during the first quarter worth $254,000. Nations Financial Group Inc. IA ADV increased its position in shares of Alliant Energy by 4.6% during the first quarter. Nations Financial Group Inc. IA ADV now owns 14,885 shares of the company's stock worth $958,000 after acquiring an additional 657 shares during the period. Ethic Inc. increased its position in shares of Alliant Energy by 6.3% during the first quarter. Ethic Inc. now owns 16,802 shares of the company's stock worth $1,082,000 after acquiring an additional 992 shares during the period. Finally, Aberdeen Group plc increased its position in shares of Alliant Energy by 1.6% during the first quarter. Aberdeen Group plc now owns 88,659 shares of the company's stock worth $5,673,000 after acquiring an additional 1,356 shares during the period. 79.90% of the stock is currently owned by institutional investors and hedge funds.

Alliant Energy Stock Performance

NASDAQ:LNT traded up $0.05 during mid-day trading on Wednesday, reaching $65.76. The stock had a trading volume of 701,851 shares, compared to its average volume of 1,986,734. 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 firm has a market capitalization of $16.90 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 3.12 and a beta of 0.53. Alliant Energy Corporation has a twelve month low of $56.08 and a twelve month high of $67.11. The business has a 50 day simple moving average of $63.59 and a 200 day simple moving average of $62.44.

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

Alliant Energy Announces Dividend

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

Wall Street Analyst Weigh In

LNT has been the topic of several recent analyst reports. Jefferies Financial Group set a $71.00 target price on Alliant Energy and gave the company a "buy" rating in a report on Tuesday, May 20th. Bank of America increased their target price on Alliant Energy from $68.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, August 14th. UBS Group reissued a "neutral" rating and issued a $67.00 target price (up previously from $65.00) on shares of Alliant Energy in a report on Friday, July 11th. 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. Finally, BMO Capital Markets reaffirmed a "market perform" rating and set a $68.00 price objective (up previously 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 given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus 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.