T. Rowe Price Investment Management Inc. Has $81.35 Million Stock Holdings in Alliant Energy Corporation $LNT

Key Points

• T. Rowe Price Investment Management Inc. reduced its stake in Alliant Energy Corporation by 69.8%, selling 2,923,234 shares and holding 1,264,111 shares after the transaction.
• Alliant Energy reported $0.68 EPS for the last quarter, exceeding analyst estimates, while revenue was up 7.5% year-over-year, totaling $961 million.
• The company declared a quarterly dividend of $0.5075 per share, representing an annualized yield of 3.0% with a payout ratio of 62.65%.

T. Rowe Price Investment Management Inc. cut its stake in Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 69.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,264,111 shares of the company's stock after selling 2,923,234 shares during the quarter. T. Rowe Price Investment Management Inc. owned 0.49% of Alliant Energy worth $81,346,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Horizon Investments LLC increased its holdings in shares of Alliant Energy by 4.9% in the first quarter. Horizon Investments LLC now owns 3,682 shares of the company's stock worth $235,000 after acquiring an additional 172 shares in the last quarter. Financial Advisors Network Inc. increased its holdings in shares of Alliant Energy by 4.1% in the first quarter. Financial Advisors Network Inc. now owns 4,737 shares of the company's stock worth $305,000 after acquiring an additional 188 shares in the last quarter. Utah Retirement Systems increased its holdings in shares of Alliant Energy by 0.5% in the fourth quarter. Utah Retirement Systems now owns 42,394 shares of the company's stock worth $2,507,000 after acquiring an additional 200 shares in the last quarter. Leavell Investment Management Inc. increased its holdings in shares of Alliant Energy by 3.4% in the first quarter. Leavell Investment Management Inc. now owns 6,061 shares of the company's stock worth $390,000 after acquiring an additional 200 shares in the last quarter. Finally, Moss Adams Wealth Advisors LLC increased its holdings in shares of Alliant Energy by 5.9% in the first quarter. Moss Adams Wealth Advisors LLC now owns 3,629 shares of the company's stock worth $234,000 after acquiring an additional 201 shares in the last quarter. 79.90% of the stock is currently owned by institutional investors.

Alliant Energy Stock Up 0.2%

Shares of NASDAQ:LNT traded up $0.13 during mid-day trading on Wednesday, reaching $65.84. 787,889 shares of the stock were exchanged, compared to its average volume of 1,987,048. 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 company has a market cap of $16.92 billion, a P/E ratio of 20.31, a P/E/G ratio of 3.12 and a beta of 0.53. Alliant Energy Corporation has a one year low of $56.08 and a one year high of $67.11. The stock's 50 day simple moving average is $63.59 and its 200-day simple moving average 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, beating the consensus estimate of $0.62 by $0.06. Alliant Energy had a return on equity of 12.25% and a net margin of 20.07%.The firm had revenue of $961.00 million during the quarter, compared to analysts' expectations of $977.15 million. During the same period in the prior year, the firm posted $0.57 earnings per share. The business's quarterly revenue was up 7.5% compared to the same quarter last year. Alliant Energy has set its FY 2025 guidance at 3.150-3.25 EPS. As a group, equities research analysts predict that Alliant Energy Corporation will post 3.23 EPS for the current 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. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $2.03 annualized dividend and a yield of 3.1%. Alliant Energy's dividend payout ratio is 62.65%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on LNT shares. UBS Group restated a "neutral" rating and issued a $67.00 price target (up from $65.00) on shares of Alliant Energy in a report on Friday, July 11th. Jefferies Financial Group set a $71.00 price target on Alliant Energy and gave the stock a "buy" rating in a report on Tuesday, May 20th. Wall Street Zen upgraded Alliant Energy from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. Wolfe Research upgraded Alliant Energy from a "peer perform" rating to an "outperform" rating and set a $68.00 price objective for the company in a report on Monday, July 7th. Finally, Bank of America increased their price objective on Alliant Energy from $68.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, August 14th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $65.50.

Alliant Energy Company 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.