RMG Wealth Management LLC Invests $586,000 in Alliant Energy Corporation $LNT

RMG Wealth Management LLC bought a new stake in Alliant Energy Corporation (NASDAQ:LNT) in the second quarter, HoldingsChannel reports. The fund bought 9,108 shares of the company’s stock, valued at approximately $586,000. Alliant Energy makes up approximately 0.1% of RMG Wealth Management LLC’s investment portfolio, making the stock its 24th biggest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LNT. Hughes Financial Services LLC purchased a new position in Alliant Energy in the 1st quarter worth approximately $27,000. Alpine Bank Wealth Management purchased a new position in shares of Alliant Energy in the first quarter valued at $29,000. Bartlett & CO. Wealth Management LLC boosted its stake 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. Global Trust Asset Management LLC acquired a new stake in Alliant Energy during the 2nd quarter valued at $30,000. Finally, TD Private Client Wealth LLC purchased a new stake in Alliant Energy during the 1st quarter worth $34,000. 79.90% of the stock is owned by institutional investors and hedge funds.

Alliant Energy Stock Up 2.0%

LNT stock opened at $68.12 on Tuesday. The firm has a market cap of $17.50 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 3.14 and a beta of 0.54. Alliant Energy Corporation has a 1-year low of $56.08 and a 1-year high of $68.19. The firm has a fifty day moving average price of $65.32 and a two-hundred day moving average price of $62.93. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.57 and a quick ratio of 0.46.

Alliant Energy (NASDAQ:LNT) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.06. Alliant Energy had a net margin of 20.07% and a return on equity of 12.25%. The company had revenue of $961.00 million for the quarter, compared to the consensus estimate of $977.15 million. During the same period last year, the firm posted $0.57 EPS. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. Alliant Energy has set its FY 2025 guidance at 3.150-3.25 EPS. Research analysts predict that Alliant Energy Corporation will post 3.23 EPS for the current year.

Alliant Energy Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Wall Street Zen upgraded Alliant Energy from a “sell” rating to a “hold” rating in a research note on Sunday, September 28th. Weiss Ratings reissued a “buy (b-)” rating on shares of Alliant Energy in a report on Saturday, September 27th. Wolfe Research upgraded shares of Alliant Energy from a “peer perform” rating to an “outperform” rating and set a $68.00 price target for the company in a research note on Monday, July 7th. UBS Group reissued a “neutral” rating and set a $67.00 price objective (up from $65.00) on shares of Alliant Energy in a report on Friday, July 11th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $68.00 target price (up previously from $66.00) on shares of Alliant Energy in a research note on Monday, August 11th. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Alliant Energy has an average rating of “Hold” and a consensus target price of $66.00.

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.