abrdn plc Acquires 12,771 Shares of Alliant Energy Co. (NASDAQ:LNT)

abrdn plc raised its holdings in shares of Alliant Energy Co. (NASDAQ:LNT - Free Report) by 18.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 81,149 shares of the company's stock after buying an additional 12,771 shares during the quarter. abrdn plc's holdings in Alliant Energy were worth $4,919,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Janus Henderson Group PLC increased its stake in Alliant Energy by 10.3% during the first quarter. Janus Henderson Group PLC now owns 10,579,475 shares of the company's stock valued at $533,205,000 after acquiring an additional 984,963 shares during the period. Johnson Investment Counsel Inc. increased its position in shares of Alliant Energy by 1.7% during the second quarter. Johnson Investment Counsel Inc. now owns 1,756,533 shares of the company's stock valued at $89,408,000 after purchasing an additional 29,358 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Alliant Energy by 9.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,293,966 shares of the company's stock valued at $65,865,000 after purchasing an additional 116,399 shares during the period. Anchor Capital Advisors LLC raised its stake in shares of Alliant Energy by 6.0% in the second quarter. Anchor Capital Advisors LLC now owns 964,337 shares of the company's stock valued at $49,085,000 after purchasing an additional 54,510 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in Alliant Energy in the second quarter worth $42,367,000. 79.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on LNT. Mizuho boosted their price target on shares of Alliant Energy from $52.00 to $61.00 and gave the company a "neutral" rating in a report on Friday, October 4th. Scotiabank raised their price target on shares of Alliant Energy from $58.00 to $64.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, August 20th. Bank of America upped their price objective on Alliant Energy from $62.00 to $63.00 and gave the company a "buy" rating in a research note on Thursday, August 29th. BMO Capital Markets cut their target price on Alliant Energy from $65.00 to $61.00 and set a "market perform" rating for the company in a research report on Monday. Finally, Barclays boosted their price target on Alliant Energy from $55.00 to $61.00 and gave the company an "equal weight" rating in a research note on Monday, October 14th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $63.28.

Alliant Energy Price Performance

LNT stock traded down $0.23 during midday trading on Monday, reaching $57.51. 2,386,649 shares of the company's stock traded hands, compared to its average volume of 1,600,933. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.31. The company has a market cap of $14.75 billion, a price-to-earnings ratio of 22.15, a PEG ratio of 2.88 and a beta of 0.58. The company has a 50-day simple moving average of $59.89 and a two-hundred day simple moving average of $55.10. Alliant Energy Co. has a 1-year low of $46.80 and a 1-year high of $62.49.

Alliant Energy (NASDAQ:LNT - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.05. Alliant Energy had a return on equity of 10.62% and a net margin of 16.66%. The business had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.08 billion. During the same period in the previous year, the business posted $1.05 earnings per share. The firm's revenue for the quarter was up .4% compared to the same quarter last year. On average, analysts anticipate that Alliant Energy Co. will post 3.05 earnings per share for the current year.

Alliant Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date is Thursday, October 31st. Alliant Energy's dividend payout ratio is currently 74.42%.

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.