Wedge Capital Management L L P NC Sells 5,970 Shares of Alliant Energy Corporation $LNT

Key Points

• Wedge Capital Management L L P NC sold 5,970 shares of Alliant Energy, reducing its holdings by 22.9% to a total of 20,103 shares valued at $1,216,000.
• Several institutional investors, including Miller Howard Investments Inc. NY and Assenagon Asset Management S.A., recently increased their stakes in Alliant Energy, highlighting strong interest from hedge funds.
• Alliant Energy reported a quarterly EPS of $0.68, beating the consensus estimate by $0.06, and recently declared a quarterly dividend yielding 3.2%.

Wedge Capital Management L L P NC trimmed its holdings in shares of Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 22.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,103 shares of the company's stock after selling 5,970 shares during the period. Wedge Capital Management L L P NC's holdings in Alliant Energy were worth $1,216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Miller Howard Investments Inc. NY boosted its holdings in shares of Alliant Energy by 5.6% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 24,744 shares of the company's stock valued at $1,496,000 after buying an additional 1,303 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Alliant Energy by 1,331.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 76,738 shares of the company's stock valued at $4,640,000 after buying an additional 71,376 shares in the last quarter. IFM Investors Pty Ltd boosted its holdings in shares of Alliant Energy by 4.4% in the 2nd quarter. IFM Investors Pty Ltd now owns 53,514 shares of the company's stock valued at $3,236,000 after buying an additional 2,272 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of Alliant Energy by 1.4% in the 2nd quarter. Exchange Traded Concepts LLC now owns 14,412 shares of the company's stock valued at $871,000 after buying an additional 193 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Alliant Energy by 4.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 68,459 shares of the company's stock valued at $4,212,000 after buying an additional 2,874 shares in the last quarter. 79.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on LNT. 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. BMO Capital Markets restated a "market perform" rating and issued a $68.00 price target (up from $66.00) on shares of Alliant Energy in a report on Monday, August 11th. Wolfe Research upgraded 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. Wall Street Zen cut shares of Alliant Energy from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, Bank of America lifted their target price on shares of Alliant Energy from $68.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, August 14th. 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 company. Based on data from MarketBeat.com, Alliant Energy presently has a consensus rating of "Hold" and an average target price of $65.50.

Alliant Energy Price Performance

NASDAQ:LNT opened at $64.22 on Tuesday. The firm has a market cap of $16.50 billion, a price-to-earnings ratio of 19.82, a price-to-earnings-growth ratio of 3.02 and a beta of 0.54. The company has a 50 day moving average price of $64.86 and a 200-day moving average price of $62.70. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.57 and a quick ratio of 0.46. Alliant Energy Corporation has a 1-year low of $56.08 and a 1-year high of $67.11.

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. Equities research analysts forecast 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 issued a $0.5075 dividend. This represents a $2.03 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Thursday, July 31st. Alliant Energy's payout ratio is presently 62.65%.

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.

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