Alliant Energy Co. (NASDAQ:LNT) Shares Acquired by Envestnet Asset Management Inc.

Posted by Defense World Staff on Sep 2nd, 2023

Envestnet Asset Management Inc. boosted its holdings in Alliant Energy Co. (NASDAQ:LNT – Free Report) by 28.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 377,854 shares of the company’s stock after acquiring an additional 83,564 shares during the period. Envestnet Asset Management Inc. owned 0.15% of Alliant Energy worth $20,177,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC purchased a new stake in shares of Alliant Energy in the 1st quarter valued at approximately $25,000. Financial Freedom LLC purchased a new stake in Alliant Energy in the fourth quarter valued at approximately $25,000. Dark Forest Capital Management LP acquired a new position in Alliant Energy during the fourth quarter worth $34,000. GPS Wealth Strategies Group LLC purchased a new position in shares of Alliant Energy during the first quarter worth $42,000. Finally, Parallel Advisors LLC grew its stake in shares of Alliant Energy by 52.4% in the fourth quarter. Parallel Advisors LLC now owns 945 shares of the company’s stock valued at $52,000 after buying an additional 325 shares in the last quarter. 77.52% of the stock is currently owned by institutional investors and hedge funds.

Alliant Energy Stock Performance

NASDAQ:LNT opened at $49.79 on Friday. The firm has a market capitalization of $12.58 billion, a PE ratio of 19.00, a price-to-earnings-growth ratio of 2.73 and a beta of 0.55. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.60 and a quick ratio of 0.44. The business’s fifty day moving average price is $52.38 and its 200 day moving average price is $53.02. Alliant Energy Co. has a 12 month low of $47.19 and a 12 month high of $63.60.

Alliant Energy (NASDAQ:LNT – Get Free Report) last released its quarterly earnings data on Friday, August 4th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. The business had revenue of $912.00 million for the quarter, compared to the consensus estimate of $956.42 million. Alliant Energy had a return on equity of 10.63% and a net margin of 15.73%. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.63 EPS. On average, sell-side analysts anticipate that Alliant Energy Co. will post 2.87 earnings per share for the current fiscal year.

Alliant Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, July 31st were paid a dividend of $0.4525 per share. The ex-dividend date of this dividend was Friday, July 28th. This represents a $1.81 annualized dividend and a yield of 3.64%. Alliant Energy’s dividend payout ratio is currently 69.08%.

Analyst Upgrades and Downgrades

LNT has been the topic of several research reports. StockNews.com began coverage on Alliant Energy in a research note on Wednesday, August 23rd. They set a “sell” rating on the stock. Bank of America raised shares of Alliant Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $55.00 to $58.00 in a research note on Monday, June 26th. BMO Capital Markets upped their target price on shares of Alliant Energy from $56.00 to $58.00 and gave the stock an “outperform” rating in a research note on Monday, August 7th. Guggenheim decreased their price target on shares of Alliant Energy from $52.00 to $49.00 in a research report on Friday, July 7th. Finally, LADENBURG THALM/SH SH began coverage on Alliant Energy in a research report on Friday, June 16th. They set a “neutral” rating and a $52.50 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Alliant Energy currently has a consensus rating of “Hold” and an average price target of $54.81.

Check Out Our Latest Analysis on Alliant Energy

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.