HighTower Advisors LLC Buys 7,306 Shares of Alliant Energy Corporation $LNT

HighTower Advisors LLC lifted its stake in shares of Alliant Energy Corporation (NASDAQ:LNT) by 20.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,308 shares of the company’s stock after acquiring an additional 7,306 shares during the quarter. HighTower Advisors LLC’s holdings in Alliant Energy were worth $2,787,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Delos Wealth Advisors LLC lifted its stake in Alliant Energy by 0.5% in the first quarter. Delos Wealth Advisors LLC now owns 65,310 shares of the company’s stock valued at $4,203,000 after buying an additional 306 shares during the period. Public Sector Pension Investment Board lifted its stake in Alliant Energy by 3.2% in the first quarter. Public Sector Pension Investment Board now owns 68,658 shares of the company’s stock valued at $4,418,000 after buying an additional 2,124 shares during the period. Aigen Investment Management LP acquired a new position in Alliant Energy in the first quarter valued at approximately $468,000. Virtu Financial LLC lifted its stake in Alliant Energy by 105.5% in the first quarter. Virtu Financial LLC now owns 7,160 shares of the company’s stock valued at $461,000 after buying an additional 3,675 shares during the period. Finally, Covestor Ltd lifted its stake in Alliant Energy by 534.4% in the first quarter. Covestor Ltd now owns 1,732 shares of the company’s stock valued at $111,000 after buying an additional 1,459 shares during the period. 79.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LNT. Bank of America boosted their price target on Alliant Energy from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, August 14th. Wall Street Zen upgraded Alliant Energy from a “sell” rating to a “hold” rating in a report on Thursday, May 15th. Jefferies Financial Group set a $71.00 price objective on Alliant Energy and gave the company a “buy” rating in a report on Tuesday, May 20th. UBS Group restated a “neutral” rating and set a $67.00 price objective (up previously from $65.00) on shares of Alliant Energy in a report on Friday, July 11th. Finally, Wolfe Research upgraded Alliant Energy from a “peer perform” rating to an “outperform” rating and set a $68.00 price objective for the company in a report on Monday, July 7th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Alliant Energy has an average rating of “Hold” and a consensus target price of $65.50.

Alliant Energy Stock Up 1.3%

Shares of NASDAQ LNT opened at $66.97 on Friday. Alliant Energy Corporation has a one year low of $56.08 and a one year high of $67.11. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.57 and a quick ratio of 0.46. The business’s fifty day moving average price is $63.37 and its 200-day moving average price is $62.33. The stock has a market capitalization of $17.21 billion, a PE ratio of 20.67, a P/E/G ratio of 3.12 and a beta of 0.53.

Alliant Energy (NASDAQ:LNT) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.06. Alliant Energy had a return on equity of 12.25% and a net margin of 20.07%.The firm had revenue of $961.00 million for the quarter, compared to analysts’ expectations of $977.15 million. During the same quarter in the prior year, the firm earned $0.57 EPS. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. Alliant Energy has set its FY 2025 guidance at 3.150-3.25 EPS. On average, equities research analysts anticipate that Alliant Energy Corporation will post 3.23 EPS for the current year.

Alliant Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 31st were issued a dividend of $0.5075 per share. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $2.03 dividend on an annualized basis and a yield of 3.0%. Alliant Energy’s dividend payout ratio is 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.