Allstate Corp Buys Shares of 9,473 Alliant Energy Corporation $LNT

Allstate Corp purchased a new position in Alliant Energy Corporation (NASDAQ:LNT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,473 shares of the company’s stock, valued at approximately $639,000.

Other large investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its holdings in Alliant Energy by 9.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 75,209 shares of the company’s stock worth $5,119,000 after purchasing an additional 6,750 shares during the period. Quantum Portfolio Management LLC bought a new stake in shares of Alliant Energy during the 3rd quarter worth about $219,000. Maryland State Retirement & Pension System lifted its stake in shares of Alliant Energy by 5.8% in the 3rd quarter. Maryland State Retirement & Pension System now owns 12,672 shares of the company’s stock worth $854,000 after acquiring an additional 696 shares during the period. Sequoia Financial Advisors LLC lifted its stake in shares of Alliant Energy by 22.6% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 23,753 shares of the company’s stock worth $1,601,000 after acquiring an additional 4,383 shares during the period. Finally, Evergreen Capital Management LLC bought a new position in shares of Alliant Energy in the third quarter valued at approximately $238,000. 79.90% of the stock is owned by institutional investors and hedge funds.

Alliant Energy Stock Down 0.8%

Shares of Alliant Energy stock opened at $66.87 on Friday. Alliant Energy Corporation has a 12-month low of $57.09 and a 12-month high of $69.75. The firm has a market capitalization of $17.19 billion, a PE ratio of 21.03, a price-to-earnings-growth ratio of 2.75 and a beta of 0.67. The company has a quick ratio of 0.70, a current ratio of 0.83 and a debt-to-equity ratio of 1.46. The stock’s fifty day moving average is $66.28 and its 200-day moving average is $65.91.

Alliant Energy (NASDAQ:LNT) last issued its quarterly earnings results on Thursday, November 6th. The company reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.05). The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Alliant Energy had a return on equity of 12.02% and a net margin of 19.14%.The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.15 EPS. Alliant Energy has set its FY 2025 guidance at 3.170-3.23 EPS. Equities analysts anticipate that Alliant Energy Corporation will post 3.23 earnings per share for the current year.

Alliant Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 17th. Stockholders of record on Friday, January 30th will be given a $0.535 dividend. This represents a $2.14 annualized dividend and a dividend yield of 3.2%. This is an increase from Alliant Energy’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Friday, January 30th. Alliant Energy’s payout ratio is 63.84%.

Analysts Set New Price Targets

Several equities research analysts recently commented on LNT shares. Barclays raised Alliant Energy from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $65.00 to $67.00 in a report on Wednesday. Wells Fargo & Company initiated coverage on Alliant Energy in a research note on Tuesday. They issued an “overweight” rating and a $71.00 price objective on the stock. UBS Group set a $75.00 price objective on Alliant Energy and gave the company a “buy” rating in a report on Wednesday, December 17th. Wolfe Research reaffirmed an “outperform” rating and set a $76.00 target price on shares of Alliant Energy in a report on Monday, December 1st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Alliant Energy in a research report on Monday, December 29th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Alliant Energy has an average rating of “Moderate Buy” and an average price target of $71.13.

About Alliant Energy

Alliant Energy Corporation (NASDAQ: LNT) is a publicly traded energy holding company headquartered in Madison, Wisconsin, that provides regulated electric and natural gas utility services in the American Midwest. The company serves customers primarily in Wisconsin and Iowa through its regulated utility subsidiaries and operates as an integrated provider responsible for generation, transmission and distribution of energy to residential, commercial and industrial customers.

Alliant Energy’s core activities include operating and maintaining electric generation assets, managing the regional transmission and distribution network, and delivering natural gas service to its franchise territories.