McElhenny Sheffield Capital Management LLC Acquires New Shares in Alliant Energy Corporation $LNT

Key Points

• McElhenny Sheffield Capital Management LLC acquired 23,000 shares of Alliant Energy Corporation valued at approximately $1.39 million in the 2nd quarter.
• Alliant Energy reported $0.68 EPS for the latest quarter, exceeding estimates by $0.06, with a net margin of 20.07% and a revenue increase of 7.5% year-over-year.
• Recent analyst upgrades have raised Alliant Energy's stock target price, with Bank of America setting a target of $70.00 and Wolfe Research upgrading to "outperform."

McElhenny Sheffield Capital Management LLC acquired a new stake in Alliant Energy Corporation (NASDAQ:LNT - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 23,000 shares of the company's stock, valued at approximately $1,391,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Teacher Retirement System of Texas bought a new position in Alliant Energy in the 1st quarter worth $2,414,000. Sowell Financial Services LLC bought a new position in Alliant Energy in the 1st quarter worth $316,000. Wealth Enhancement Advisory Services LLC raised its holdings in Alliant Energy by 1.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 65,585 shares of the company's stock worth $4,220,000 after acquiring an additional 1,198 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Alliant Energy by 19.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,413 shares of the company's stock worth $3,566,000 after acquiring an additional 8,959 shares during the period. Finally, State of Alaska Department of Revenue raised its holdings in Alliant Energy by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 30,063 shares of the company's stock worth $1,934,000 after acquiring an additional 800 shares during the period. Institutional investors and hedge funds own 79.90% of the company's stock.

Alliant Energy Stock Performance

NASDAQ:LNT opened at $67.87 on Thursday. 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's 50-day moving average is $65.45 and its 200-day moving average is $63.00. Alliant Energy Corporation has a 52-week low of $56.08 and a 52-week high of $68.52. The company has a market cap of $17.44 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 3.20 and a beta of 0.54.

Alliant Energy (NASDAQ:LNT - Get Free Report) last issued its earnings results 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. Alliant Energy had a net margin of 20.07% and a return on equity of 12.25%. The business had revenue of $961.00 million for the quarter, compared to analyst estimates of $977.15 million. During the same period in the previous year, the business earned $0.57 EPS. The firm's revenue was up 7.5% on a year-over-year basis. Alliant Energy has set its FY 2025 guidance at 3.150-3.25 EPS. Equities research analysts anticipate that Alliant Energy Corporation will post 3.23 earnings per share for the current year.

Alliant Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 31st were given a dividend of $0.5075 per share. This represents a $2.03 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Thursday, July 31st. Alliant Energy's payout ratio is 62.65%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on LNT. Wolfe Research upgraded shares of 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. BMO Capital Markets reiterated a "market perform" rating and issued a $68.00 target price (up previously from $66.00) on shares of Alliant Energy in a report on Monday, August 11th. Bank of America lifted their target price on shares of Alliant Energy from $68.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, August 14th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Alliant Energy in a report on Wednesday. Finally, Wall Street Zen upgraded shares of Alliant Energy from a "sell" rating to a "hold" rating in a report on Sunday, September 28th. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $66.00.

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.

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