United Asset Strategies Inc. Grows Stock Position in Alliant Energy Corporation $LNT

Key Points

• United Asset Strategies Inc. increased its stake in Alliant Energy Corporation by 31.2%, acquiring an additional 18,624 shares during the first quarter.
• Wall Street analysts have generally favorable ratings for Alliant Energy, with multiple brokerages raising price targets, including a new target of $71.00 set by Jefferies Financial Group.
• Alliant Energy recently declared a quarterly dividend of $0.5075 per share, representing an annualized yield of 3.1% with a payout ratio of 62.65%.

United Asset Strategies Inc. increased its holdings in Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 31.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 78,376 shares of the company's stock after buying an additional 18,624 shares during the quarter. United Asset Strategies Inc.'s holdings in Alliant Energy were worth $5,043,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Hughes Financial Services LLC bought a new position in Alliant Energy in the first quarter worth approximately $27,000. Alpine Bank Wealth Management purchased a new stake in shares of Alliant Energy in the 1st quarter worth $29,000. TD Private Client Wealth LLC bought a new position in Alliant Energy in the 1st quarter worth $34,000. First Command Advisory Services Inc. bought a new position in Alliant Energy in the 1st quarter worth $34,000. Finally, Tsfg LLC purchased a new position in Alliant Energy during the first quarter valued at $34,000. 79.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LNT. Bank of America upped their price target on Alliant Energy from $68.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, August 14th. UBS Group reiterated a "neutral" rating and set a $67.00 price objective (up from $65.00) on shares of Alliant Energy in a research note on Friday, July 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. Wolfe Research raised shares of Alliant Energy from a "peer perform" rating to an "outperform" rating and set a $68.00 price target on the stock in a report on Monday, July 7th. Finally, Wall Street Zen upgraded shares of Alliant Energy from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $65.50.

Alliant Energy Stock Up 0.5%

NASDAQ LNT opened at $66.33 on Thursday. Alliant Energy Corporation has a 12 month low of $56.08 and a 12 month high of $67.02. 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 cap of $17.04 billion, a PE ratio of 20.47, a P/E/G ratio of 3.12 and a beta of 0.53. The stock's 50 day moving average is $63.16 and its 200 day moving average is $62.23.

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 (EPS) for the quarter, beating 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 analysts' expectations of $977.15 million. During the same quarter last year, the business posted $0.57 earnings per share. The company's revenue for the quarter 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. Research analysts predict that Alliant Energy Corporation will post 3.23 EPS for the current fiscal year.

Alliant Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 31st were paid a $0.5075 dividend. The ex-dividend date was Thursday, July 31st. This represents a $2.03 annualized dividend and a yield of 3.1%. Alliant Energy's 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.

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.