Park Avenue Securities LLC Makes New Investment in Alliant Energy Corporation $LNT

Key Points

• Park Avenue Securities LLC has acquired a new position in Alliant Energy Corporation, purchasing 4,949 shares valued at approximately $299,000 in the second quarter.
• Alliant Energy reported a Q2 EPS of $0.68, exceeding analysts' expectations of $0.62, alongside a revenue of $961 million.
• The company recently announced a quarterly dividend of $0.5075 per share, resulting in an annualized dividend of $2.03 and a yield of 3.0%.

Park Avenue Securities LLC acquired a new position in shares of Alliant Energy Corporation (NASDAQ:LNT - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,949 shares of the company's stock, valued at approximately $299,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LNT. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Alliant Energy in the first quarter valued at about $82,496,000. GAMMA Investing LLC boosted its position in shares of Alliant Energy by 6,869.6% in the first quarter. GAMMA Investing LLC now owns 1,114,027 shares of the company's stock valued at $71,688,000 after acquiring an additional 1,098,043 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Alliant Energy by 98.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,084,562 shares of the company's stock valued at $69,792,000 after acquiring an additional 538,603 shares during the period. Carnegie Investment Counsel bought a new stake in shares of Alliant Energy in the first quarter valued at about $34,210,000. Finally, HITE Hedge Asset Management LLC bought a new stake in shares of Alliant Energy in the first quarter valued at about $19,141,000. 79.90% of the stock is owned by institutional investors.

Alliant Energy Stock Up 0.9%

Shares of NASDAQ LNT opened at $67.41 on Wednesday. The company has a current ratio of 0.57, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35. The company has a market cap of $17.32 billion, a price-to-earnings ratio of 20.81, a PEG ratio of 3.14 and a beta of 0.54. Alliant Energy Corporation has a 12 month low of $56.08 and a 12 month high of $67.54. The stock has a 50-day moving average price of $65.13 and a two-hundred day moving average price of $62.84.

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

Alliant Energy Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wolfe Research raised shares of Alliant Energy from a "peer perform" rating to an "outperform" rating and set a $68.00 target price for the company in a research report on Monday, July 7th. Wall Street Zen raised shares of Alliant Energy from a "sell" rating to a "hold" rating in a research report on Sunday. 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 research report on Friday, July 11th. BMO Capital Markets reissued a "market perform" rating and issued a $68.00 target price (up previously from $66.00) on shares of Alliant Energy in a research report on Monday, August 11th. Finally, Bank of America boosted their target price on shares of Alliant Energy from $68.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday, August 14th. Four equities research 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's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price 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.

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