Ramirez Asset Management Inc. Increases Stock Position in Alliant Energy Corporation $LNT

Key Points

• Ramirez Asset Management Inc. increased its stake in Alliant Energy Corporation by 48.9% in Q2, now owning 52,376 shares valued at $3.17 million.
• Multiple institutional investors, including Goldman Sachs and Vanguard Group, have also significantly increased their holdings in Alliant Energy recently, resulting in institutional ownership of 79.90%.
• Analyst ratings show a consensus of Hold for Alliant Energy, with a target price currently set at $66.00, while recent performance indicates a best Q2 earnings of $0.68 per share.

Ramirez Asset Management Inc. grew its position in Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 48.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,376 shares of the company's stock after purchasing an additional 17,200 shares during the period. Ramirez Asset Management Inc.'s holdings in Alliant Energy were worth $3,167,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Alliant Energy in the first quarter worth about $82,496,000. Goldman Sachs Group Inc. raised its stake in shares of Alliant Energy by 98.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,084,562 shares of the company's stock worth $69,792,000 after acquiring an additional 538,603 shares in the last quarter. Carnegie Investment Counsel purchased a new position in shares of Alliant Energy during the first quarter worth approximately $34,210,000. HITE Hedge Asset Management LLC purchased a new position in shares of Alliant Energy during the first quarter worth approximately $19,141,000. Finally, Vanguard Group Inc. increased its stake in shares of Alliant Energy by 0.5% in the first quarter. Vanguard Group Inc. now owns 32,822,215 shares of the company's stock worth $2,112,110,000 after buying an additional 158,507 shares during the period. Institutional investors own 79.90% of the company's stock.

Analyst Ratings Changes

LNT has been the topic of a number of research analyst reports. Bank of America boosted their price objective 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. UBS Group restated a "neutral" rating and set a $67.00 target price (up previously from $65.00) on shares of Alliant Energy in a research note on Friday, July 11th. Wolfe Research upgraded shares of Alliant Energy from a "peer perform" rating to an "outperform" rating and set a $68.00 price objective on the stock in a research note on Monday, July 7th. Wall Street Zen raised shares of Alliant Energy from a "sell" rating to a "hold" rating in a report on Sunday, September 28th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Alliant Energy in a research report on Wednesday. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Alliant Energy presently has a consensus rating of "Hold" and a consensus target price of $66.00.

Alliant Energy Price Performance

LNT opened at $67.24 on Friday. Alliant Energy Corporation has a 1 year low of $56.08 and a 1 year high of $68.52. The firm has a market capitalization of $17.28 billion, a PE ratio of 20.75, a price-to-earnings-growth ratio of 3.19 and a beta of 0.54. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.57 and a quick ratio of 0.46. The business's 50-day moving average is $65.49 and its two-hundred day moving average is $63.03.

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

Alliant Energy Dividend Announcement

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

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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