Summit Investment Advisors Inc. Trims Holdings in Alliant Energy Corporation $LNT

Summit Investment Advisors Inc. lowered its holdings in Alliant Energy Corporation (NASDAQ:LNT) by 5.0% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 33,207 shares of the company’s stock after selling 1,760 shares during the period. Summit Investment Advisors Inc.’s holdings in Alliant Energy were worth $2,137,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its holdings in shares of Alliant Energy by 98.7% during 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 in the last quarter. Carnegie Investment Counsel purchased a new position in Alliant Energy during the 1st quarter valued at $34,210,000. HITE Hedge Asset Management LLC bought a new position in Alliant Energy in the 1st quarter worth $19,141,000. Jennison Associates LLC raised its holdings in Alliant Energy by 34.2% in the 2nd 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 in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Alliant Energy by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 32,822,215 shares of the company’s stock worth $2,112,110,000 after purchasing an additional 158,507 shares during the period. 79.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on LNT shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Alliant Energy in a research report on Wednesday, October 8th. Wall Street Zen downgraded Alliant Energy from a “hold” rating to a “sell” rating in a report on Saturday. Bank of America increased their target price on Alliant Energy from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. UBS Group upgraded Alliant Energy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $74.00 to $79.00 in a research report on Friday, October 24th. Finally, BMO Capital Markets upped their price target on Alliant Energy from $68.00 to $71.00 and gave the stock a “market perform” rating in a research note on Friday, October 17th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $69.00.

Alliant Energy Stock Performance

Shares of LNT opened at $67.34 on Monday. 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’s 50 day moving average price is $66.42 and its 200-day moving average price is $63.99. Alliant Energy Corporation has a 52 week low of $56.20 and a 52 week high of $69.75. The stock has a market cap of $17.30 billion, a P/E ratio of 20.78, a P/E/G ratio of 3.20 and a beta of 0.57.

Alliant Energy (NASDAQ:LNT) last posted its quarterly earnings data 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). The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.34 billion. Alliant Energy had a net margin of 20.07% and a return on equity of 12.25%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the business earned $1.15 EPS. Alliant Energy has set its FY 2025 guidance at 3.170-3.23 EPS. Equities research analysts anticipate that Alliant Energy Corporation will post 3.23 earnings per share for the current fiscal year.

Alliant Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Friday, October 31st will be given a $0.5075 dividend. This represents a $2.03 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, October 31st. Alliant Energy’s payout ratio is currently 63.84%.

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.