Resona Asset Management Co. Ltd. Acquires 8,175 Shares of Alliant Energy Corporation $LNT

Resona Asset Management Co. Ltd. raised its stake in shares of Alliant Energy Corporation (NASDAQ:LNT) by 8.7% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 102,337 shares of the company’s stock after purchasing an additional 8,175 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Alliant Energy were worth $6,187,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Envestnet Asset Management Inc. lifted its stake in Alliant Energy by 5.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 698,334 shares of the company’s stock valued at $44,938,000 after acquiring an additional 37,407 shares in the last quarter. TD Private Client Wealth LLC purchased a new stake in shares of Alliant Energy in the first quarter valued at about $34,000. Stratos Wealth Partners LTD. raised its holdings in shares of Alliant Energy by 7.1% in the first quarter. Stratos Wealth Partners LTD. now owns 3,919 shares of the company’s stock valued at $252,000 after purchasing an additional 261 shares during the last quarter. Leavell Investment Management Inc. lifted its position in shares of Alliant Energy by 3.4% during the first quarter. Leavell Investment Management Inc. now owns 6,061 shares of the company’s stock valued at $390,000 after purchasing an additional 200 shares in the last quarter. Finally, Xponance Inc. boosted its holdings in Alliant Energy by 2.1% during the first quarter. Xponance Inc. now owns 37,095 shares of the company’s stock worth $2,387,000 after purchasing an additional 746 shares during the last quarter. 79.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. UBS Group upgraded shares of Alliant Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $74.00 to $79.00 in a research note on Friday, October 24th. Bank of America upped their target price on Alliant Energy from $70.00 to $74.00 and gave the company a “buy” rating in a report on Friday, October 17th. BMO Capital Markets lifted their price target on Alliant Energy from $68.00 to $71.00 and gave the stock a “market perform” rating in a report on Friday, October 17th. Barclays set a $65.00 price objective on Alliant Energy and gave the stock an “underweight” rating in a research report on Tuesday, October 14th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Alliant Energy in a research report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $69.00.

Alliant Energy Stock Up 0.9%

LNT stock opened at $67.34 on Monday. The stock has a fifty day moving average of $66.42 and a 200-day moving average of $63.99. Alliant Energy Corporation has a fifty-two week low of $56.20 and a fifty-two week high of $69.75. The company has a market capitalization of $17.30 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 3.20 and a beta of 0.57. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.57.

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

Alliant Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Friday, October 31st will be issued a dividend of $0.5075 per share. This represents a $2.03 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Friday, October 31st. Alliant Energy’s dividend payout ratio is 63.84%.

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.