Mirae Asset Global Investments Co. Ltd. Makes New Investment in Alliant Energy Corporation $LNT

Key Points

• Mirae Asset Global Investments initiated a position in Alliant Energy, buying 67,157 shares worth approximately $4.25 million in the third quarter.
• Alliant Energy reported quarterly EPS of $1.52, beating the $1.31 consensus estimate, while revenue rose 6.2% year over year to $1.28 billion.
• The company declared a quarterly dividend of $0.535 per share, equivalent to a 2.9% annualized yield; analysts’ consensus rating was “Moderate Buy,” with an average price target of $75.23.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in Alliant Energy Corporation (NASDAQ:LNT - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 67,157 shares of the company's stock, valued at approximately $4,251,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of LNT. Jupiter Topco LLC bought a new stake in shares of Alliant Energy during the second quarter worth about $837,468,000. Janus Henderson Group PLC boosted its position in shares of Alliant Energy by 1.2% during the first quarter. Janus Henderson Group PLC now owns 11,273,621 shares of the company's stock valued at $808,996,000 after buying an additional 138,683 shares during the last quarter. Magellan Asset Management Ltd bought a new stake in Alliant Energy during the second quarter worth $151,629,000. Legal & General Group Plc bought a new stake in Alliant Energy during the second quarter worth $143,968,000. Finally, Squarepoint Ops LLC boosted its holdings in Alliant Energy by 18.8% during the 2nd quarter. Squarepoint Ops LLC now owns 1,345,323 shares of the company's stock worth $102,635,000 after acquiring an additional 212,421 shares during the last quarter. Institutional investors own 79.90% of the company's stock.

Alliant Energy Stock Performance

Shares of NASDAQ:LNT traded down $0.77 during trading on Friday, hitting $72.67. 3,384,138 shares of the company were exchanged, compared to its average volume of 2,922,165. Alliant Energy Corporation has a 52-week low of $62.54 and a 52-week high of $78.81. The stock has a 50 day moving average of $67.43 and a 200 day moving average of $70.63. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.51 and a quick ratio of 0.35. The company has a market cap of $18.85 billion, a PE ratio of 20.24, a P/E/G ratio of 3.08 and a beta of 0.51.

Alliant Energy (NASDAQ:LNT - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.21. The company had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.26 billion. Alliant Energy had a return on equity of 12.43% and a net margin of 20.74%. The firm's quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.12 earnings per share. As a group, equities research analysts predict that Alliant Energy Corporation will post 3.43 EPS for the current year.

Alliant Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Friday, October 30th will be given a $0.5350 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Friday, October 30th. Alliant Energy's dividend payout ratio (DPR) is 59.61%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on LNT shares. Barclays set a $68.00 price objective on shares of Alliant Energy and gave the stock an "equal weight" rating in a research report on Tuesday, October 13th. BMO Capital Markets reissued an "outperform" rating and set a $75.00 target price on shares of Alliant Energy in a research report on Wednesday, October 14th. Weiss Ratings restated a "buy (b)" rating on shares of Alliant Energy in a research note on Monday, October 26th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $75.00 target price on shares of Alliant Energy in a report on Monday, October 12th. Finally, HSBC assumed coverage on shares of Alliant Energy in a research report on Thursday, October 22nd. They issued a "hold" rating and a $69.50 price objective on the stock. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $75.23.

About Alliant Energy

Alliant Energy Corporation is a public utility holding company headquartered in Madison, Wisconsin. Through its regulated utility subsidiaries, Interstate Power and Light Company and Wisconsin Power and Light Company, the company provides electric and natural gas service to residential, commercial, and industrial customers in Iowa and Wisconsin.

Alliant Energy's operations include the generation, transmission, distribution, and sale of electricity, as well as the distribution and sale of natural gas.

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