Envestnet Asset Management Inc. Increases Holdings in Alliant Energy Corporation $LNT

Envestnet Asset Management Inc. boosted its position in Alliant Energy Corporation (NASDAQ:LNT) by 2.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 712,257 shares of the company’s stock after purchasing an additional 13,923 shares during the period. Envestnet Asset Management Inc. owned about 0.28% of Alliant Energy worth $43,070,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hughes Financial Services LLC acquired a new stake in Alliant Energy in the first quarter valued at $27,000. Global Trust Asset Management LLC acquired a new stake in Alliant Energy in the 2nd quarter valued at about $30,000. Bartlett & CO. Wealth Management LLC increased its holdings in Alliant Energy by 81.6% during the 2nd quarter. Bartlett & CO. Wealth Management LLC now owns 494 shares of the company’s stock valued at $30,000 after acquiring an additional 222 shares in the last quarter. TD Private Client Wealth LLC acquired a new position in Alliant Energy during the first quarter worth about $34,000. Finally, First Command Advisory Services Inc. purchased a new stake in shares of Alliant Energy in the first quarter valued at about $34,000. 79.90% of the stock is owned by institutional investors and hedge funds.

Alliant Energy Stock Performance

NASDAQ:LNT opened at $66.82 on Friday. The company has a market cap of $17.17 billion, a P/E ratio of 20.62, a P/E/G ratio of 3.20 and a beta of 0.54. The firm’s 50 day moving average is $66.30 and its two-hundred day moving average is $63.75. Alliant Energy Corporation has a fifty-two week low of $56.08 and a fifty-two week high of $69.75. The company has a quick ratio of 0.46, a current ratio of 0.57 and a debt-to-equity ratio of 1.35.

Alliant Energy (NASDAQ:LNT) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.06. The company had revenue of $961.00 million during the quarter, compared to analysts’ expectations of $977.15 million. Alliant Energy had a net margin of 20.07% and a return on equity of 12.25%. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.57 EPS. Alliant Energy has set its FY 2025 guidance at 3.150-3.25 EPS. Analysts expect that Alliant Energy Corporation will post 3.23 EPS for the current year.

Alliant Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Friday, October 31st will be issued a $0.5075 dividend. This represents a $2.03 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Friday, October 31st. Alliant Energy’s dividend payout ratio (DPR) is 62.65%.

Analyst Upgrades and Downgrades

LNT has been the subject of a number of recent research reports. Bank of America raised their price objective on shares of Alliant Energy from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Wall Street Zen raised Alliant Energy from a “sell” rating to a “hold” rating in a report on Sunday, September 28th. Wolfe Research upgraded Alliant Energy from a “peer perform” rating to an “outperform” rating and set a $68.00 price objective on the stock in a research report on Monday, July 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Alliant Energy in a research report on Wednesday, October 8th. Finally, BMO Capital Markets boosted their target price on shares of Alliant Energy from $68.00 to $71.00 and gave the company a “market perform” rating in a research note on Friday, October 17th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $68.56.

Alliant Energy 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.