Alliant Energy Co. (NASDAQ:LNT) Shares Bought by Texas Permanent School Fund Corp

Posted by on Jul 28th, 2023

Texas Permanent School Fund Corp boosted its holdings in shares of Alliant Energy Co. (NASDAQ:LNT – Free Report) by 46.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,191 shares of the company’s stock after acquiring an additional 16,526 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Alliant Energy were worth $2,787,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LNT. Great West Life Assurance Co. Can boosted its holdings in Alliant Energy by 3.0% in the first quarter. Great West Life Assurance Co. Can now owns 117,612 shares of the company’s stock valued at $7,714,000 after purchasing an additional 3,451 shares during the period. Prudential PLC acquired a new stake in shares of Alliant Energy during the first quarter worth about $427,000. National Pension Service increased its position in Alliant Energy by 11,488.8% in the 1st quarter. National Pension Service now owns 371,883 shares of the company’s stock valued at $23,235,000 after acquiring an additional 368,674 shares during the period. Vanguard Group Inc. increased its position in Alliant Energy by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 31,030,199 shares of the company’s stock valued at $1,938,766,000 after acquiring an additional 342,340 shares during the period. Finally, Covestor Ltd increased its position in Alliant Energy by 67.2% in the 1st quarter. Covestor Ltd now owns 1,988 shares of the company’s stock valued at $124,000 after acquiring an additional 799 shares during the period. Institutional investors and hedge funds own 76.45% of the company’s stock.

Alliant Energy Trading Down 2.0 %

LNT stock opened at $54.53 on Friday. Alliant Energy Co. has a 52 week low of $47.19 and a 52 week high of $64.62. The company has a market cap of $13.71 billion, a price-to-earnings ratio of 20.89, a PEG ratio of 3.00 and a beta of 0.55. The company has a quick ratio of 0.48, a current ratio of 0.62 and a debt-to-equity ratio of 1.29. The business has a fifty day simple moving average of $52.96 and a 200-day simple moving average of $53.12.

Alliant Energy (NASDAQ:LNT – Get Free Report) last posted its quarterly earnings data on Friday, May 5th. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). Alliant Energy had a net margin of 15.60% and a return on equity of 10.74%. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the company earned $0.77 earnings per share. The business’s quarterly revenue was up .8% on a year-over-year basis. On average, equities research analysts expect that Alliant Energy Co. will post 2.87 EPS for the current year.

Alliant Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be issued a dividend of $0.4525 per share. The ex-dividend date is Friday, July 28th. This represents a $1.81 annualized dividend and a yield of 3.32%. Alliant Energy’s payout ratio is 69.35%.

Analyst Ratings Changes

Several brokerages recently issued reports on LNT. 888 restated an “upgrade” rating on shares of Alliant Energy in a research report on Monday, June 26th. Bank of America raised Alliant Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $55.00 to $58.00 in a report on Monday, June 26th. Wells Fargo & Company raised Alliant Energy from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $58.00 to $61.00 in a research note on Wednesday, April 19th. BMO Capital Markets raised Alliant Energy from a “market perform” rating to an “outperform” rating and decreased their price target for the stock from $60.00 to $56.00 in a research note on Tuesday, May 30th. Finally, StockNews.com began coverage on Alliant Energy in a research note on Thursday, May 18th. They set a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $57.28.

Alliant Energy Company 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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