PNC Financial Services Group Inc. Lowers Stake in Alliant Energy Corporation $LNT

PNC Financial Services Group Inc. lessened its position in Alliant Energy Corporation (NASDAQ:LNT) by 12.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,169 shares of the company’s stock after selling 6,937 shares during the period. PNC Financial Services Group Inc.’s holdings in Alliant Energy were worth $2,973,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Rossby Financial LCC acquired a new position in Alliant Energy in the 2nd quarter valued at $29,000. Global Trust Asset Management LLC purchased a new stake in shares of Alliant Energy in the second quarter valued at $30,000. Bartlett & CO. Wealth Management LLC grew its position in shares of Alliant Energy by 81.6% in the second quarter. Bartlett & CO. Wealth Management LLC now owns 494 shares of the company’s stock valued at $30,000 after purchasing an additional 222 shares during the period. First Horizon Advisors Inc. increased its stake in Alliant Energy by 84.9% in the second quarter. First Horizon Advisors Inc. now owns 516 shares of the company’s stock valued at $31,000 after purchasing an additional 237 shares during the last quarter. Finally, Quarry LP purchased a new position in Alliant Energy during the first quarter worth about $40,000. Institutional investors and hedge funds own 79.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on LNT shares. Weiss Ratings restated a “buy (b)” rating on shares of Alliant Energy in a report on Monday. UBS Group upgraded shares of Alliant Energy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $74.00 to $79.00 in a report on Friday, October 24th. Wall Street Zen downgraded shares of Alliant Energy from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Barclays set a $65.00 price target on shares of Alliant Energy and gave the stock an “underweight” rating in a research report on Tuesday, October 14th. Finally, BMO Capital Markets boosted their price objective 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. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Alliant Energy has an average rating of “Hold” and a consensus price target of $69.00.

Alliant Energy Price Performance

LNT opened at $68.09 on Wednesday. Alliant Energy Corporation has a 52-week low of $56.30 and a 52-week high of $69.75. The company has a 50 day moving average of $66.87 and a two-hundred day moving average of $64.32. The company has a market cap of $17.50 billion, a P/E ratio of 21.02, a P/E/G ratio of 3.20 and a beta of 0.57. 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 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). Alliant Energy had a return on equity of 12.25% and a net margin of 20.07%.The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the company posted $1.15 earnings per share. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. Alliant Energy has set its FY 2025 guidance at 3.170-3.23 EPS. On average, analysts expect that Alliant Energy Corporation will post 3.23 earnings per share for the current year.

Alliant Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Friday, October 31st were issued a dividend of $0.5075 per share. This represents a $2.03 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Friday, October 31st. Alliant Energy’s dividend payout ratio (DPR) is presently 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.