Magellan Asset Management Ltd Purchases 626,730 Shares of Alliant Energy Corporation $LNT

Key Points

• Magellan Asset Management increased its stake in Alliant Energy by 40.3% in the fourth quarter, buying 626,730 shares and bringing its total holding to 2.18 million shares worth about $141.7 million.
• Alliant Energy reported quarterly EPS of $0.82, matching analyst expectations, while revenue came in at $1.18 billion, above estimates and up 5% from a year ago.
• The utility paid a quarterly dividend of $0.535 per share, or $2.14 annualized, for a yield of about 3.0%, and Wall Street currently has a Moderate Buy consensus with an average price target of $76.60.

Magellan Asset Management Ltd boosted its position in shares of Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 40.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,180,425 shares of the company's stock after acquiring an additional 626,730 shares during the period. Alliant Energy accounts for about 1.7% of Magellan Asset Management Ltd's investment portfolio, making the stock its 26th largest position. Magellan Asset Management Ltd owned about 0.85% of Alliant Energy worth $141,749,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Glenmede Investment Management LP raised its stake in Alliant Energy by 0.7% during the 3rd quarter. Glenmede Investment Management LP now owns 22,793 shares of the company's stock worth $1,536,000 after acquiring an additional 153 shares during the period. Quadrant Capital Group LLC raised its position in shares of Alliant Energy by 1.8% during the third quarter. Quadrant Capital Group LLC now owns 9,117 shares of the company's stock valued at $615,000 after buying an additional 158 shares during the last quarter. Apollon Wealth Management LLC raised its position in shares of Alliant Energy by 4.8% during the fourth quarter. Apollon Wealth Management LLC now owns 3,517 shares of the company's stock valued at $229,000 after buying an additional 161 shares during the last quarter. Simplicity Wealth LLC raised its position in shares of Alliant Energy by 5.5% during the fourth quarter. Simplicity Wealth LLC now owns 3,216 shares of the company's stock valued at $209,000 after buying an additional 167 shares during the last quarter. Finally, Rehmann Capital Advisory Group raised its position in shares of Alliant Energy by 4.7% during the third quarter. Rehmann Capital Advisory Group now owns 4,316 shares of the company's stock valued at $291,000 after buying an additional 192 shares during the last quarter. Institutional investors own 79.90% of the company's stock.

Alliant Energy Trading Up 0.9%

LNT stock opened at $71.39 on Friday. The firm has a fifty day moving average price of $72.22 and a 200 day moving average price of $69.43. Alliant Energy Corporation has a fifty-two week low of $59.62 and a fifty-two week high of $75.76. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.53 and a current ratio of 0.69. The firm has a market cap of $18.44 billion, a PE ratio of 22.38, a price-to-earnings-growth ratio of 2.89 and a beta of 0.56.

Alliant Energy (NASDAQ:LNT - Get Free Report) last posted its earnings results on Thursday, April 30th. The company reported $0.82 earnings per share for the quarter, meeting analysts' consensus estimates of $0.82. Alliant Energy had a net margin of 18.58% and a return on equity of 11.37%. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period last year, the firm posted $0.83 earnings per share. Alliant Energy's revenue for the quarter was up 5.0% compared to the same quarter last year. Alliant Energy has set its FY 2026 guidance at 3.360-3.460 EPS. Sell-side analysts anticipate that Alliant Energy Corporation will post 3.43 earnings per share for the current fiscal year.

Alliant Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 30th were paid a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Thursday, April 30th. Alliant Energy's payout ratio is presently 67.08%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on LNT shares. BMO Capital Markets set a $81.00 price objective on shares of Alliant Energy in a research report on Monday, May 4th. Barclays set a $74.00 price objective on shares of Alliant Energy and gave the company an "equal weight" rating in a research report on Wednesday, April 15th. Wells Fargo & Company reiterated an "overweight" rating and set a $76.00 price objective on shares of Alliant Energy in a research report on Tuesday, April 21st. Wall Street Zen upgraded shares of Alliant Energy from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 9th. Finally, Royal Bank Of Canada initiated coverage on shares of Alliant Energy in a report on Wednesday, March 11th. They issued an "outperform" rating and a $82.00 target price for the company. Nine equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Alliant Energy has a consensus rating of "Moderate Buy" and an average price target of $76.60.

Alliant Energy Profile

Alliant Energy Corporation NASDAQ: LNT is a publicly traded energy holding company headquartered in Madison, Wisconsin, that provides regulated electric and natural gas utility services in the American Midwest. The company serves customers primarily in Wisconsin and Iowa through its regulated utility subsidiaries and operates as an integrated provider responsible for generation, transmission and distribution of energy to residential, commercial and industrial customers.

Alliant Energy's core activities include operating and maintaining electric generation assets, managing the regional transmission and distribution network, and delivering natural gas service to its franchise territories.

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