RMG Wealth Management LLC Makes New $586,000 Investment in Alliant Energy Corporation $LNT

Key Points

• RMG Wealth Management LLC made a new investment of $586,000 in Alliant Energy Corporation, acquiring 9,108 shares that constitute approximately 0.1% of its portfolio.
• Several other large investors have also increased their stakes in Alliant Energy, with notable increases such as Drake & Associates LLC's 58.1% rise in ownership during the second quarter.
• Alliant Energy reported an earnings per share (EPS) of $0.68 for the last quarter, exceeding analysts' expectations, and projected a FY 2025 EPS guidance of 3.150-3.25.

RMG Wealth Management LLC purchased a new position in Alliant Energy Corporation (NASDAQ:LNT - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 9,108 shares of the company's stock, valued at approximately $586,000. Alliant Energy comprises about 0.1% of RMG Wealth Management LLC's portfolio, making the stock its 24th biggest holding.

A number of other large investors have also made changes to their positions in the stock. Drake & Associates LLC increased its position in Alliant Energy by 58.1% during the 2nd quarter. Drake & Associates LLC now owns 46,340 shares of the company's stock worth $2,802,000 after purchasing an additional 17,022 shares in the last quarter. Hennessy Advisors Inc. boosted its stake in shares of Alliant Energy by 26.6% during the 2nd quarter. Hennessy Advisors Inc. now owns 38,050 shares of the company's stock worth $2,301,000 after purchasing an additional 8,000 shares during the last quarter. QRG Capital Management Inc. grew its holdings in shares of Alliant Energy by 8.9% during the second quarter. QRG Capital Management Inc. now owns 9,203 shares of the company's stock worth $557,000 after buying an additional 750 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Alliant Energy by 9.0% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,138 shares of the company's stock valued at $1,943,000 after buying an additional 2,667 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC lifted its stake in shares of Alliant Energy by 81.6% during the second quarter. Bartlett & CO. Wealth Management LLC now owns 494 shares of the company's stock valued at $30,000 after buying an additional 222 shares during the period. Institutional investors and hedge funds own 79.90% of the company's stock.

Alliant Energy Price Performance

Shares of Alliant Energy stock opened at $68.12 on Tuesday. The business's fifty day moving average price is $65.32 and its 200 day moving average price is $62.93. Alliant Energy Corporation has a twelve month low of $56.08 and a twelve month high of $68.19. 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 stock has a market capitalization of $17.50 billion, a P/E ratio of 21.02, a PEG ratio of 3.14 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 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.06. The company had revenue of $961.00 million for 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 company's quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the business posted $0.57 EPS. Alliant Energy has set its FY 2025 guidance at 3.150-3.25 EPS. As a group, research analysts anticipate that Alliant Energy Corporation will post 3.23 earnings per share for the current year.

Alliant Energy Announces Dividend

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

Analysts Set New Price Targets

LNT has been the subject of several recent analyst reports. BMO Capital Markets reaffirmed a "market perform" rating and issued a $68.00 target price (up from $66.00) on shares of Alliant Energy in a research note on Monday, August 11th. UBS Group restated a "neutral" rating and set a $67.00 price objective (up previously from $65.00) on shares of Alliant Energy in a report on Friday, July 11th. Wolfe Research upgraded Alliant Energy from a "peer perform" rating to an "outperform" rating and set a $68.00 target price for the company in a research note on Monday, July 7th. Weiss Ratings reissued a "buy (b-)" rating on shares of Alliant Energy in a research note on Saturday, September 27th. Finally, Bank of America lifted their price target on Alliant Energy from $68.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, August 14th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Alliant Energy currently has a consensus rating of "Hold" and an average price target of $66.00.

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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