Midwest Trust Co Takes Position in Alliant Energy Corporation $LNT

Midwest Trust Co purchased a new position in Alliant Energy Corporation (NASDAQ:LNT) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,799 shares of the company’s stock, valued at approximately $230,000.

A number of other institutional investors have also recently bought and sold shares of the company. Rossby Financial LCC purchased a new position in Alliant Energy in the second quarter valued at about $29,000. Global Trust Asset Management LLC acquired a new stake in shares of Alliant Energy during the 2nd quarter valued at about $30,000. Bartlett & CO. Wealth Management LLC grew its stake in shares of Alliant Energy by 81.6% in the 2nd quarter. Bartlett & CO. Wealth Management LLC now owns 494 shares of the company’s stock valued at $30,000 after buying an additional 222 shares in the last quarter. First Horizon Advisors Inc. grew its stake in shares of Alliant Energy by 84.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 516 shares of the company’s stock valued at $31,000 after buying an additional 237 shares in the last quarter. Finally, Quarry LP acquired a new position in Alliant Energy in the first quarter worth approximately $40,000. Institutional investors and hedge funds own 79.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on LNT. BMO Capital Markets boosted their target price on shares of Alliant Energy from $68.00 to $71.00 and gave the stock a “market perform” rating in a research report on Friday, October 17th. Bank of America upped their price objective on shares of Alliant Energy from $70.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Barclays set a $65.00 target price on shares of Alliant Energy and gave the stock an “underweight” rating in a research report on Tuesday, October 14th. Wall Street Zen cut Alliant Energy from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Finally, UBS Group upgraded Alliant Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $74.00 to $79.00 in a report on Friday, October 24th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Alliant Energy has an average rating of “Hold” and a consensus target price of $69.00.

Alliant Energy Price Performance

NASDAQ:LNT opened at $67.42 on Friday. 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 Corporation has a one year low of $56.30 and a one year high of $69.75. The company has a fifty day moving average price of $66.66 and a 200 day moving average price of $64.14. The stock has a market cap of $17.33 billion, a P/E ratio of 20.81, a PEG ratio of 3.20 and a beta of 0.57.

Alliant Energy (NASDAQ:LNT) last posted its quarterly earnings results on Thursday, November 6th. The company reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.05). The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.34 billion. Alliant Energy had a return on equity of 12.25% and a net margin of 20.07%.The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.15 earnings per share. Alliant Energy has set its FY 2025 guidance at 3.170-3.23 EPS. Analysts anticipate that Alliant Energy Corporation will post 3.23 earnings per share for the current year.

Alliant Energy Dividend Announcement

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