Magellan Asset Management Ltd Sells 1,298 Shares of Alliant Energy Corporation $LNT

Magellan Asset Management Ltd cut its stake in shares of Alliant Energy Corporation (NASDAQ:LNT) by 0.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 172,102 shares of the company’s stock after selling 1,298 shares during the quarter. Magellan Asset Management Ltd owned approximately 0.07% of Alliant Energy worth $10,407,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Horizon Investments LLC raised its position in Alliant Energy by 4.9% in the 1st quarter. Horizon Investments LLC now owns 3,682 shares of the company’s stock valued at $235,000 after purchasing an additional 172 shares during the last quarter. Integrity Alliance LLC. boosted its stake in Alliant Energy by 3.0% in the second quarter. Integrity Alliance LLC. now owns 6,006 shares of the company’s stock valued at $363,000 after acquiring an additional 173 shares during the last quarter. Moss Adams Wealth Advisors LLC increased its holdings in Alliant Energy by 4.8% in the second quarter. Moss Adams Wealth Advisors LLC now owns 3,805 shares of the company’s stock valued at $230,000 after purchasing an additional 176 shares during the last quarter. Financial Advisors Network Inc. raised its position in shares of Alliant Energy by 4.1% in the 1st quarter. Financial Advisors Network Inc. now owns 4,737 shares of the company’s stock valued at $305,000 after acquiring an additional 188 shares during the period. Finally, Exchange Traded Concepts LLC grew its holdings in shares of Alliant Energy by 1.4% in the 2nd quarter. Exchange Traded Concepts LLC now owns 14,412 shares of the company’s stock valued at $871,000 after buying an additional 193 shares during the period. Institutional investors own 79.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LNT. Wall Street Zen downgraded shares of Alliant Energy from a “hold” rating to a “sell” rating in a report on Saturday. BMO Capital Markets raised their target price on shares of Alliant Energy from $68.00 to $71.00 and gave the company a “market perform” rating in a research report on Friday, October 17th. Barclays set a $65.00 price target on shares of Alliant Energy and gave the stock an “underweight” rating in a research report on Tuesday, October 14th. UBS Group raised Alliant Energy from a “neutral” rating to a “buy” rating and lifted their target price for the company from $74.00 to $79.00 in a research report on Friday, October 24th. Finally, Bank of America raised their price target on Alliant Energy from $70.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $69.00.

Alliant Energy Price Performance

Shares of NASDAQ LNT opened at $67.34 on Friday. Alliant Energy Corporation has a twelve month low of $56.20 and a twelve month high of $69.75. The company has a market cap of $17.30 billion, a PE ratio of 20.78, a price-to-earnings-growth ratio of 3.20 and a beta of 0.57. The business’s 50 day moving average price is $66.42 and its two-hundred day moving average price is $63.95. The company has a quick ratio of 0.46, a current ratio of 0.57 and a debt-to-equity ratio of 1.35.

Alliant Energy (NASDAQ:LNT) last issued its earnings results on Thursday, November 6th. The company reported $1.12 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.05). Alliant Energy had a return on equity of 12.25% and a net margin of 20.07%.The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the firm posted $1.15 earnings per share. The business’s revenue was up 11.9% compared to the same quarter last year. Alliant Energy has set its FY 2025 guidance at 3.170-3.23 EPS. On average, analysts predict that Alliant Energy Corporation will post 3.23 EPS for the current year.

Alliant Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Friday, October 31st will be paid a dividend of $0.5075 per share. This represents a $2.03 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Friday, October 31st. Alliant Energy’s dividend payout ratio (DPR) is currently 62.65%.

About Alliant Energy

Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services in the United States. It operates in 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.