Legal & General Group Plc Buys 149,679 Shares of Alliant Energy Corporation $LNT

Legal & General Group Plc increased its position in Alliant Energy Corporation (NASDAQ:LNT) by 6.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,368,752 shares of the company’s stock after buying an additional 149,679 shares during the period. Legal & General Group Plc owned 0.92% of Alliant Energy worth $143,238,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its stake in Alliant Energy by 98.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,084,562 shares of the company’s stock valued at $69,792,000 after acquiring an additional 538,603 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Alliant Energy by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 33,303,702 shares of the company’s stock worth $2,013,875,000 after purchasing an additional 481,487 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Alliant Energy by 5.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,082,060 shares of the company’s stock valued at $428,252,000 after purchasing an additional 384,204 shares during the period. HITE Hedge Asset Management LLC bought a new stake in Alliant Energy during the 1st quarter valued at $19,141,000. Finally, Jennison Associates LLC raised its holdings in Alliant Energy by 34.2% during the second quarter. Jennison Associates LLC now owns 721,531 shares of the company’s stock worth $43,631,000 after buying an additional 183,802 shares during the last quarter. 79.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on LNT shares. Jefferies Financial Group reiterated a “buy” rating and set a $78.00 price objective on shares of Alliant Energy in a report on Monday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alliant Energy in a research report on Monday, November 17th. Barclays set a $65.00 price objective on Alliant Energy and gave the stock an “underweight” rating in a report on Tuesday, October 14th. Wall Street Zen lowered Alliant Energy from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Finally, Bank of America lifted their target price on Alliant Energy from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $69.88.

Alliant Energy Stock Performance

LNT stock opened at $68.41 on Tuesday. The firm has a market cap of $17.59 billion, a PE ratio of 21.11, 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. The business has a 50 day moving average of $67.13 and a 200-day moving average of $64.51. Alliant Energy Corporation has a 12-month low of $56.30 and a 12-month high of $69.75.

Alliant Energy (NASDAQ:LNT) last issued its quarterly earnings results on Thursday, November 6th. The company reported $1.12 EPS 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 the consensus estimate of $1.34 billion. During the same quarter last year, the business posted $1.15 earnings per share. The business’s revenue was up 11.9% compared to the same quarter last year. Alliant Energy has set its FY 2025 guidance at 3.170-3.23 EPS. As a group, sell-side analysts expect that Alliant Energy Corporation will post 3.23 earnings per share for the current year.

Alliant Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Friday, October 31st were 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 of this dividend was Friday, October 31st. Alliant Energy’s 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.