Assenagon Asset Management S.A. Decreases Stake in Alliant Energy Co. (NASDAQ:LNT)

Posted by on Jul 4th, 2023

Assenagon Asset Management S.A. cut its holdings in Alliant Energy Co. (NASDAQ:LNT – Free Report) by 49.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,807 shares of the company’s stock after selling 98,062 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Alliant Energy were worth $5,383,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Northwest Investment Counselors LLC purchased a new stake in Alliant Energy during the first quarter worth $25,000. Financial Freedom LLC purchased a new stake in Alliant Energy during the fourth quarter worth $25,000. Romano Brothers AND Company purchased a new stake in Alliant Energy during the fourth quarter worth $29,000. Accurate Wealth Management LLC purchased a new stake in Alliant Energy during the fourth quarter worth $33,000. Finally, Dark Forest Capital Management LP purchased a new stake in Alliant Energy during the fourth quarter worth $34,000. 76.45% of the stock is currently owned by hedge funds and other institutional investors.

Alliant Energy Stock Performance

Shares of NASDAQ:LNT opened at $53.08 on Tuesday. The firm has a market capitalization of $13.34 billion, a PE ratio of 20.34, a P/E/G ratio of 2.81 and a beta of 0.55. 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 business has a 50-day moving average of $52.94 and a two-hundred day moving average of $52.98. Alliant Energy Co. has a 12 month low of $47.19 and a 12 month high of $64.62.

Alliant Energy (NASDAQ:LNT – Free Report) last announced its quarterly earnings results on Friday, May 5th. The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.08). The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.17 billion. Alliant Energy had a return on equity of 10.74% and a net margin of 15.60%. The business’s revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.77 earnings per share. As a group, research analysts forecast that Alliant Energy Co. will post 2.88 earnings per share for the current year.

Alliant Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Friday, April 28th were given a $0.4525 dividend. This represents a $1.81 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend was Thursday, April 27th. Alliant Energy’s payout ratio is 69.35%.

Analyst Upgrades and Downgrades

LNT has been the topic of several recent research reports. Bank of America upgraded Alliant Energy from a “neutral” rating to a “buy” rating and upped their price objective for the company from $55.00 to $58.00 in a research report on Monday, June 26th. LADENBURG THALM/SH SH initiated coverage on Alliant Energy in a research report on Friday, June 16th. They issued a “neutral” rating and a $52.50 price objective on the stock. StockNews.com initiated coverage on Alliant Energy in a research report on Thursday, May 18th. They issued a “sell” rating on the stock. BMO Capital Markets upgraded Alliant Energy from a “market perform” rating to an “outperform” rating and reduced their price objective for the company from $60.00 to $56.00 in a research report on Tuesday, May 30th. Finally, Wells Fargo & Company upgraded Alliant Energy from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $58.00 to $61.00 in a research note on Wednesday, April 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $58.05.

Alliant Energy Profile

(Free Report)

Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services. It operates through 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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Institutional Ownership by Quarter for Alliant Energy (NASDAQ:LNT)

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