Bank of America Corp DE Increases Holdings in Alliant Energy Co. (NASDAQ:LNT)

Posted by on Jun 6th, 2023

Bank of America Corp DE lifted its position in shares of Alliant Energy Co. (NASDAQ:LNT – Get Rating) by 4.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,143,557 shares of the company’s stock after buying an additional 52,045 shares during the period. Bank of America Corp DE owned about 0.46% of Alliant Energy worth $63,136,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of LNT. Point72 Asset Management L.P. grew its position in shares of Alliant Energy by 67.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 225,000 shares of the company’s stock worth $11,923,000 after buying an additional 90,400 shares during the last quarter. Dividend Assets Capital LLC grew its position in shares of Alliant Energy by 100.0% in the 4th quarter. Dividend Assets Capital LLC now owns 1,520 shares of the company’s stock worth $84,000 after buying an additional 760 shares during the last quarter. Balentine LLC bought a new stake in shares of Alliant Energy in the 4th quarter worth approximately $450,000. Daiwa Securities Group Inc. grew its position in shares of Alliant Energy by 5.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 29,617 shares of the company’s stock worth $1,635,000 after buying an additional 1,620 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position in shares of Alliant Energy by 1.7% during the fourth quarter. New York State Common Retirement Fund now owns 237,082 shares of the company’s stock valued at $13,089,000 after purchasing an additional 4,000 shares in the last quarter. 75.89% of the stock is owned by hedge funds and other institutional investors.

Alliant Energy Stock Up 0.6 %

LNT stock opened at $52.28 on Tuesday. Alliant Energy Co. has a 1-year low of $47.19 and a 1-year high of $64.62. The business has a fifty day moving average price of $53.74 and a 200-day moving average price of $53.18. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.62 and a quick ratio of 0.48. The stock has a market capitalization of $13.14 billion, a P/E ratio of 20.03, a P/E/G ratio of 2.80 and a beta of 0.56.

Alliant Energy (NASDAQ:LNT – Get Rating) last posted its quarterly earnings results on Friday, May 5th. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.08). Alliant Energy had a return on equity of 10.74% and a net margin of 15.60%. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the prior year, the firm earned $0.77 EPS. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. Equities analysts forecast that Alliant Energy Co. will post 2.89 earnings per share for the current fiscal year.

Alliant Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Friday, April 28th were issued a $0.4525 dividend. This represents a $1.81 annualized dividend and a dividend yield of 3.46%. The ex-dividend date was Thursday, April 27th. Alliant Energy’s payout ratio is currently 69.35%.

Wall Street Analysts Forecast Growth

LNT has been the topic of several research reports. Wells Fargo & Company upgraded Alliant Energy from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $58.00 to $61.00 in a research report on Wednesday, April 19th. StockNews.com initiated coverage on Alliant Energy in a research report on Thursday, May 18th. They set a “sell” rating on the stock. BMO Capital Markets upgraded Alliant Energy from a “market perform” rating to an “outperform” rating and dropped their price target for the company from $60.00 to $56.00 in a research report on Tuesday, May 30th. Finally, Guggenheim upgraded Alliant Energy from a “sell” rating to a “neutral” rating and lifted their price target for the company from $46.00 to $52.00 in a research report on Tuesday, February 21st. One analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $58.44.

Alliant Energy Profile

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Alliant Energy Corp. is a regulated investor-owned public utility holding company, which engages in the provision of regulated electricity and natural gas service to natural gas customers in the Midwest through its two public utility subsidiaries. It operates through following segments: Electric Utility, Gas Utility, Other Utility, and Non-Utility and Other.

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Institutional Ownership by Quarter for Alliant Energy (NASDAQ:LNT)

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