Alliant Energy Co. (NASDAQ:LNT) Shares Bought by abrdn plc

abrdn plc lifted its stake in shares of Alliant Energy Co. (NASDAQ:LNT) by 18.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 81,149 shares of the company’s stock after purchasing an additional 12,771 shares during the quarter. abrdn plc’s holdings in Alliant Energy were worth $4,919,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Intech Investment Management LLC lifted its position in Alliant Energy by 604.0% in the 1st quarter. Intech Investment Management LLC now owns 72,768 shares of the company’s stock valued at $3,668,000 after purchasing an additional 62,431 shares during the last quarter. Cetera Investment Advisers raised its holdings in shares of Alliant Energy by 200.8% during the first quarter. Cetera Investment Advisers now owns 215,821 shares of the company’s stock valued at $10,877,000 after buying an additional 144,077 shares during the last quarter. Forsta AP Fonden boosted its position in shares of Alliant Energy by 36.3% during the first quarter. Forsta AP Fonden now owns 70,600 shares of the company’s stock worth $3,558,000 after buying an additional 18,800 shares during the period. FORA Capital LLC bought a new position in Alliant Energy in the 1st quarter worth approximately $2,199,000. Finally, Ameritas Investment Partners Inc. increased its position in Alliant Energy by 105.5% in the 1st quarter. Ameritas Investment Partners Inc. now owns 33,166 shares of the company’s stock valued at $1,672,000 after acquiring an additional 17,030 shares during the period. 79.90% of the stock is currently owned by institutional investors and hedge funds.

Alliant Energy Stock Performance

Shares of NASDAQ LNT opened at $57.74 on Monday. The stock’s fifty day simple moving average is $59.89 and its 200 day simple moving average is $55.10. The stock has a market capitalization of $14.81 billion, a price-to-earnings ratio of 22.38, a PEG ratio of 2.88 and a beta of 0.58. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.31. Alliant Energy Co. has a 52-week low of $46.80 and a 52-week high of $62.49.

Alliant Energy (NASDAQ:LNT) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.05. Alliant Energy had a return on equity of 10.62% and a net margin of 16.66%. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the company earned $1.05 EPS. The business’s revenue for the quarter was up .4% compared to the same quarter last year. As a group, sell-side analysts forecast that Alliant Energy Co. will post 3.05 earnings per share for the current fiscal year.

Alliant Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date is Thursday, October 31st. Alliant Energy’s dividend payout ratio is 74.42%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LNT. UBS Group raised their price target on Alliant Energy from $64.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Barclays boosted their price target on shares of Alliant Energy from $55.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. BMO Capital Markets upped their price target on shares of Alliant Energy from $58.00 to $60.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 6th. Wells Fargo & Company boosted their target price on Alliant Energy from $62.00 to $66.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, Bank of America increased their price target on Alliant Energy from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $63.28.

Alliant Energy Company Profile

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.