Retirement Systems of Alabama Sells 6,746 Shares of Alliant Energy Corporation $LNT

Retirement Systems of Alabama lessened its position in Alliant Energy Corporation (NASDAQ:LNT) by 1.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 439,255 shares of the company’s stock after selling 6,746 shares during the period. Retirement Systems of Alabama’s holdings in Alliant Energy were worth $26,562,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Assetmark Inc. raised its holdings in Alliant Energy by 122.8% in the 2nd quarter. Assetmark Inc. now owns 12,710 shares of the company’s stock worth $769,000 after acquiring an additional 7,005 shares during the last quarter. World Investment Advisors bought a new stake in shares of Alliant Energy in the 2nd quarter worth $276,000. Jennison Associates LLC raised its stake in shares of Alliant Energy by 34.2% in the second quarter. Jennison Associates LLC now owns 721,531 shares of the company’s stock worth $43,631,000 after purchasing an additional 183,802 shares during the last quarter. New York Life Investment Management LLC lifted its holdings in shares of Alliant Energy by 1.8% during the second quarter. New York Life Investment Management LLC now owns 35,371 shares of the company’s stock valued at $2,139,000 after purchasing an additional 616 shares in the last quarter. Finally, Rossby Financial LCC purchased a new stake in shares of Alliant Energy during the second quarter valued at $29,000. Hedge funds and other institutional investors own 79.90% of the company’s stock.

Analyst Upgrades and Downgrades

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

Alliant Energy Stock Up 0.2%

LNT opened at $67.93 on Friday. The firm’s 50 day simple moving average is $66.30 and its two-hundred day simple moving average is $63.70. The company has a market capitalization of $17.46 billion, a PE ratio of 20.97, a PEG ratio of 3.20 and a beta of 0.54. Alliant Energy Corporation has a 1-year low of $56.08 and a 1-year high of $69.75. The company has a current ratio of 0.57, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35.

Alliant Energy (NASDAQ:LNT) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.68 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $961.00 million during the quarter, compared to the consensus estimate of $977.15 million. During the same quarter in the previous year, the firm posted $0.57 EPS. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. Alliant Energy has set its FY 2025 guidance at 3.150-3.25 EPS. As a group, equities analysts forecast that Alliant Energy Corporation will post 3.23 EPS for the current year.

Alliant Energy Dividend Announcement

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

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.