Raymond James Financial Inc. Lowers Stock Position in Alliant Energy Corporation $LNT

Key Points

• Raymond James Financial Inc. reduced its holdings in Alliant Energy Corporation ($LNT) by 2.7%, now holding 340,066 shares worth approximately $21.88 million.
• Wall Street analysts are generally positive on Alliant Energy, with four assigning a Buy rating and a consensus price target of $65.50.
• Alliant Energy announced a quarterly dividend of $0.5075 per share with an annualized yield of 3.1%, reflecting a dividend payout ratio of 62.65%.

Raymond James Financial Inc. reduced its position in Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 2.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 340,066 shares of the company's stock after selling 9,554 shares during the quarter. Raymond James Financial Inc. owned approximately 0.13% of Alliant Energy worth $21,883,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Nations Financial Group Inc. IA ADV boosted its stake in shares of Alliant Energy by 4.6% in the 1st quarter. Nations Financial Group Inc. IA ADV now owns 14,885 shares of the company's stock valued at $958,000 after purchasing an additional 657 shares during the last quarter. Ethic Inc. boosted its stake in shares of Alliant Energy by 6.3% in the 1st quarter. Ethic Inc. now owns 16,802 shares of the company's stock valued at $1,082,000 after purchasing an additional 992 shares during the last quarter. Aberdeen Group plc boosted its stake in shares of Alliant Energy by 1.6% in the 1st quarter. Aberdeen Group plc now owns 88,659 shares of the company's stock valued at $5,673,000 after purchasing an additional 1,356 shares during the last quarter. Horizon Investments LLC boosted its stake in shares of Alliant Energy by 4.9% in the 1st quarter. Horizon Investments LLC now owns 3,682 shares of the company's stock valued at $235,000 after purchasing an additional 172 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Alliant Energy by 30.8% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,926 shares of the company's stock valued at $510,000 after purchasing an additional 1,866 shares during the last quarter. 79.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on LNT. Bank of America increased their target price on shares of Alliant Energy from $68.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, August 14th. UBS Group reissued a "neutral" rating and set a $67.00 target price (up from $65.00) on shares of Alliant Energy in a research note on Friday, July 11th. BMO Capital Markets reissued a "market perform" rating and set a $68.00 target price (up from $66.00) on shares of Alliant Energy in a research note on Monday, August 11th. Jefferies Financial Group set a $71.00 target price on shares of Alliant Energy and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Finally, Wall Street Zen raised shares of Alliant Energy from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $65.50.

Alliant Energy Stock Up 0.1%

LNT traded up $0.05 during trading on Monday, hitting $65.07. 1,669,629 shares of the company's stock were exchanged, compared to its average volume of 2,035,713. The company has a quick ratio of 0.46, a current ratio of 0.57 and a debt-to-equity ratio of 1.35. The business's 50 day moving average is $63.97 and its two-hundred day moving average is $62.58. Alliant Energy Corporation has a fifty-two week low of $56.08 and a fifty-two week high of $67.11. The stock has a market cap of $16.72 billion, a P/E ratio of 20.08, a PEG ratio of 3.07 and a beta of 0.54.

Alliant Energy (NASDAQ:LNT - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.68 earnings per share for the quarter, topping 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 firm had revenue of $961.00 million for the quarter, compared to the consensus estimate of $977.15 million. During the same quarter in the prior year, the company posted $0.57 earnings per share. The business'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. As a group, equities analysts expect that Alliant Energy Corporation will post 3.23 earnings per share for the current fiscal year.

Alliant Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 31st were issued a dividend of $0.5075 per share. The ex-dividend date was Thursday, July 31st. This represents a $2.03 annualized dividend and a yield of 3.1%. Alliant Energy's dividend payout ratio is presently 62.65%.

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.