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

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hughes Financial Services LLC acquired a new stake in Alliant Energy during the 1st quarter valued at approximately $27,000. Alpine Bank Wealth Management purchased a new position in shares of Alliant Energy during the first quarter worth $29,000. TD Private Client Wealth LLC purchased a new position in shares of Alliant Energy during the first quarter worth $34,000. First Command Advisory Services Inc. acquired a new position in Alliant Energy during the first quarter valued at $34,000. Finally, Tsfg LLC purchased a new stake in Alliant Energy in the first quarter valued at $34,000. Institutional investors and hedge funds own 79.90% of the company's stock.

Wall Street Analysts Forecast Growth

LNT has been the subject of a number of recent research reports. Jefferies Financial Group set a $71.00 price objective on Alliant Energy and gave the company a "buy" rating in a research note on Tuesday, May 20th. Wall Street Zen upgraded Alliant Energy from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. Wolfe Research raised Alliant Energy from a "peer perform" rating to an "outperform" rating and set a $68.00 price target for the company in a report on Monday, July 7th. UBS Group reaffirmed a "neutral" rating and set a $67.00 price objective (up previously from $65.00) on shares of Alliant Energy in a research note on Friday, July 11th. Finally, BMO Capital Markets reaffirmed a "market perform" rating and set a $68.00 target price (up from $66.00) on shares of Alliant Energy in a report on Monday, August 11th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $65.50.

Alliant Energy Trading Down 0.7%

Shares of NASDAQ:LNT opened at $65.71 on Wednesday. Alliant Energy Corporation has a 1 year low of $56.08 and a 1 year high of $67.11. The firm has a market capitalization of $16.89 billion, a price-to-earnings ratio of 20.28, a price-to-earnings-growth ratio of 3.12 and a beta of 0.53. 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 price is $63.59 and its 200-day moving average price is $62.44.

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

Alliant Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors 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 3.1%. The ex-dividend date was Thursday, July 31st. Alliant Energy's dividend payout ratio is 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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