Stratos Wealth Partners LTD. Increases Holdings in Alliant Energy Co. (NASDAQ:LNT)

Posted by on Oct 6th, 2023

Stratos Wealth Partners LTD. increased its stake in Alliant Energy Co. (NASDAQ:LNT – Free Report) by 5.8% during the second quarter, according to its most recent filing with the SEC. The fund owned 4,362 shares of the company’s stock after buying an additional 239 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Alliant Energy were worth $229,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Alliant Energy by 1.1% in the first quarter. Vanguard Group Inc. now owns 31,030,199 shares of the company’s stock worth $1,938,766,000 after buying an additional 342,340 shares during the last quarter. BlackRock Inc. increased its holdings in Alliant Energy by 3.5% in the 1st quarter. BlackRock Inc. now owns 23,504,005 shares of the company’s stock worth $1,255,114,000 after acquiring an additional 799,601 shares during the last quarter. State Street Corp raised its stake in Alliant Energy by 8.1% in the 1st quarter. State Street Corp now owns 13,692,321 shares of the company’s stock valued at $855,496,000 after acquiring an additional 1,021,148 shares during the period. Victory Capital Management Inc. lifted its holdings in Alliant Energy by 19.1% during the first quarter. Victory Capital Management Inc. now owns 8,246,257 shares of the company’s stock valued at $440,350,000 after purchasing an additional 1,319,551 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Alliant Energy by 1.7% during the first quarter. Geode Capital Management LLC now owns 5,599,460 shares of the company’s stock worth $298,383,000 after purchasing an additional 95,527 shares during the period. Institutional investors own 77.52% of the company’s stock.

Alliant Energy Price Performance

Shares of NASDAQ:LNT opened at $47.61 on Friday. The company’s fifty day moving average price is $50.63 and its 200-day moving average price is $52.62. 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 firm has a market capitalization of $12.03 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 2.52 and a beta of 0.57. Alliant Energy Co. has a one year low of $45.15 and a one year high of $57.52.

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

Alliant Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st were paid a $0.4525 dividend. This represents a $1.81 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend was Friday, July 28th. Alliant Energy’s dividend payout ratio is currently 69.08%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Mizuho cut their price objective on shares of Alliant Energy from $55.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, August 17th. StockNews.com began coverage on Alliant Energy in a report on Thursday. They set a “sell” rating on the stock. Bank of America upgraded Alliant Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $55.00 to $58.00 in a research report on Monday, June 26th. LADENBURG THALM/SH SH assumed coverage on shares of Alliant Energy in a research note on Friday, June 16th. They set a “neutral” rating and a $52.50 price objective for the company. Finally, 888 reiterated an “upgrade” rating on shares of Alliant Energy in a research note on Monday, June 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $54.39.

Check Out Our Latest Stock Report on LNT

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.

See Also

Want to see what other hedge funds are holding LNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alliant Energy Co. (NASDAQ:LNT – Free Report).

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

Receive News & Ratings for Alliant Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alliant Energy and related companies with MarketBeat.com's FREE daily email newsletter.