Sound Income Strategies LLC Sells 4,439 Shares of Alliant Energy Corporation $LNT

Key Points

• Sound Income Strategies LLC reduced its stake in Alliant Energy by 89%, selling 4,439 shares and leaving it with only 549 shares valued at approximately $33,000.
• Several hedge funds have recently increased their investments in Alliant Energy, with notable new positions including Charter Capital Management LLC DE investing around $550,000.
• Research analysts have set target prices for Alliant Energy, with estimates ranging from $67.00 to $70.00 and an overall average target price of $65.50.

Sound Income Strategies LLC trimmed its stake in Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 89.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 549 shares of the company's stock after selling 4,439 shares during the quarter. Sound Income Strategies LLC's holdings in Alliant Energy were worth $33,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Global Trust Asset Management LLC bought a new position in Alliant Energy in the second quarter valued at approximately $30,000. Patton Fund Management Inc. bought a new position in Alliant Energy in the second quarter valued at approximately $219,000. Public Employees Retirement System of Ohio grew its stake in Alliant Energy by 1.0% in the second quarter. Public Employees Retirement System of Ohio now owns 85,692 shares of the company's stock valued at $5,182,000 after purchasing an additional 850 shares in the last quarter. Ballentine Partners LLC bought a new position in Alliant Energy in the second quarter valued at approximately $238,000. Finally, Charter Capital Management LLC DE bought a new position in Alliant Energy in the second quarter valued at approximately $550,000. 79.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Wolfe Research upgraded Alliant Energy from a "peer perform" rating to an "outperform" rating and set a $68.00 price target for the company in a research note on Monday, July 7th. UBS Group reaffirmed a "neutral" rating and issued a $67.00 price objective (up from $65.00) on shares of Alliant Energy in a research report on Friday, July 11th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $68.00 price objective (up from $66.00) on shares of Alliant Energy in a research report on Monday, August 11th. Bank of America raised their price objective on Alliant Energy from $68.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday, August 14th. Finally, Wall Street Zen raised Alliant Energy from a "sell" rating to a "hold" rating in a research report on Sunday. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Alliant Energy has an average rating of "Hold" and an average target price of $65.50.

Alliant Energy Stock Performance

NASDAQ:LNT opened at $67.11 on Thursday. The stock has a market cap of $17.25 billion, a P/E ratio of 20.71, a PEG ratio of 3.17 and a beta of 0.54. The stock has a 50 day simple moving average of $65.18 and a 200 day simple moving average of $62.87. The company has a current ratio of 0.57, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35. Alliant Energy Corporation has a 1-year low of $56.08 and a 1-year high of $67.55.

Alliant Energy (NASDAQ:LNT - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $961.00 million during the quarter, compared to analysts' expectations of $977.15 million. Alliant Energy had a return on equity of 12.25% and a net margin of 20.07%.The firm's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period last year, the firm posted $0.57 EPS. 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 year.

Alliant Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 31st were issued a dividend of $0.5075 per share. This represents a $2.03 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Thursday, July 31st. Alliant Energy's dividend payout ratio (DPR) 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.

Want to see what other hedge funds are holding LNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alliant Energy Corporation (NASDAQ:LNT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.