Prime Capital Investment Advisors LLC Sells 2,606 Shares of Alliant Energy Corporation $LNT

Prime Capital Investment Advisors LLC reduced its holdings in shares of Alliant Energy Corporation (NASDAQ:LNT) by 30.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 5,909 shares of the company’s stock after selling 2,606 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Alliant Energy were worth $357,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in LNT. Teacher Retirement System of Texas bought a new stake in Alliant Energy in the 1st quarter valued at $2,414,000. Sowell Financial Services LLC bought a new stake in Alliant Energy in the 1st quarter valued at $316,000. Wealth Enhancement Advisory Services LLC boosted its stake in Alliant Energy by 1.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 65,585 shares of the company’s stock valued at $4,220,000 after purchasing an additional 1,198 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Alliant Energy by 19.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,413 shares of the company’s stock valued at $3,566,000 after purchasing an additional 8,959 shares during the period. Finally, State of Alaska Department of Revenue boosted its stake in Alliant Energy by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 30,063 shares of the company’s stock valued at $1,934,000 after purchasing an additional 800 shares during the period. 79.90% of the stock is currently owned by institutional investors.

Alliant Energy Price Performance

Alliant Energy stock opened at $67.75 on Friday. 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 Corporation has a 52 week low of $56.08 and a 52 week high of $68.52. The stock has a market capitalization of $17.41 billion, a P/E ratio of 20.91, a price-to-earnings-growth ratio of 3.19 and a beta of 0.54. The stock has a fifty day moving average of $65.54 and a 200-day moving average of $63.07.

Alliant Energy (NASDAQ:LNT) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.68 EPS for the quarter, topping 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 company had revenue of $961.00 million during the quarter, compared to analysts’ expectations of $977.15 million. During the same quarter in the previous year, the firm earned $0.57 EPS. Alliant Energy’s revenue was up 7.5% on a year-over-year basis. Alliant Energy has set its FY 2025 guidance at 3.150-3.25 EPS. On average, sell-side analysts expect that Alliant Energy Corporation will post 3.23 earnings per share for the current fiscal year.

Alliant Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 31st were issued a $0.5075 dividend. This represents a $2.03 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Thursday, July 31st. Alliant Energy’s dividend payout ratio is presently 62.65%.

Analysts Set New Price Targets

LNT has been the subject of several recent research reports. UBS Group set a $74.00 price target on Alliant Energy and gave the company a “neutral” rating in a research note on Friday. Wall Street Zen upgraded Alliant Energy from a “sell” rating to a “hold” rating in a research note on Sunday, September 28th. 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. Wolfe Research raised 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. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Alliant Energy in a report on Wednesday. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $66.78.

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.