Alliant Energy Co. (NASDAQ:LNT) Shares Bought by Creative Planning

Posted by Defense World Staff on Oct 11th, 2023

Creative Planning increased its stake in Alliant Energy Co. (NASDAQ:LNT – Free Report) by 14.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 51,316 shares of the company’s stock after buying an additional 6,625 shares during the quarter. Creative Planning’s holdings in Alliant Energy were worth $2,693,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on LNT shares. BMO Capital Markets reduced their price objective on Alliant Energy from $58.00 to $54.00 and set an “outperform” rating for the company in a research note on Thursday, September 7th. Barclays reduced their price objective on Alliant Energy from $55.00 to $51.00 in a research report on Tuesday. 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 for the company. StockNews.com began coverage on Alliant Energy in a research report on Thursday, October 5th. They set a “sell” rating for the company. Finally, Mizuho reduced their price objective on Alliant Energy from $55.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, August 17th. 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 company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $53.28.

Check Out Our Latest Stock Report on LNT

Alliant Energy Trading Up 1.2 %

Alliant Energy stock opened at $49.15 on Wednesday. Alliant Energy Co. has a 52 week low of $45.15 and a 52 week high of $57.52. The firm has a market capitalization of $12.42 billion, a PE ratio of 18.76, a PEG ratio of 2.61 and a beta of 0.57. The business’s 50-day simple moving average is $50.33 and its 200-day simple moving average is $52.46. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.44 and a current ratio of 0.60.

Alliant Energy (NASDAQ:LNT – Get Free Report) last released its quarterly earnings data on Friday, August 4th. The company reported $0.64 earnings per share 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 company had revenue of $912.00 million for the quarter, compared to the consensus estimate of $956.42 million. During the same period in the previous year, the business earned $0.63 earnings per share. The company’s quarterly revenue was down 3.3% on a year-over-year basis. Equities research analysts forecast that Alliant Energy Co. will post 2.87 earnings per share for the current year.

Alliant Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st were paid a $0.4525 dividend. The ex-dividend date of this dividend was Friday, July 28th. This represents a $1.81 annualized dividend and a dividend yield of 3.68%. Alliant Energy’s dividend payout ratio is currently 69.08%.

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.