Moors & Cabot Inc. Sells 1,149 Shares of Alliant Energy Corporation $LNT

Moors & Cabot Inc. reduced its stake in shares of Alliant Energy Corporation (NASDAQ:LNT) by 20.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,585 shares of the company’s stock after selling 1,149 shares during the quarter. Moors & Cabot Inc.’s holdings in Alliant Energy were worth $277,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of LNT. Hughes Financial Services LLC acquired a new position in shares of Alliant Energy during the first quarter valued at about $27,000. Rossby Financial LCC acquired a new stake in Alliant Energy during the second quarter worth about $29,000. Bartlett & CO. Wealth Management LLC increased its stake in Alliant Energy by 81.6% during the second quarter. Bartlett & CO. Wealth Management LLC now owns 494 shares of the company’s stock valued at $30,000 after acquiring an additional 222 shares during the period. Global Trust Asset Management LLC acquired a new position in Alliant Energy in the 2nd quarter valued at approximately $30,000. Finally, TD Private Client Wealth LLC acquired a new position in Alliant Energy in the 1st quarter valued at approximately $34,000. 79.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on LNT. UBS Group upgraded Alliant Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $74.00 to $79.00 in a research report on Friday, October 24th. Bank of America lifted their price target on shares of Alliant Energy from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Barclays set a $65.00 price objective on shares of Alliant Energy and gave the company an “underweight” rating in a research note on Tuesday, October 14th. Wall Street Zen downgraded shares of Alliant Energy from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Alliant Energy in a research note on Wednesday, October 8th. Five 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $69.00.

Alliant Energy Stock Performance

Alliant Energy stock opened at $67.34 on Friday. The firm has a market capitalization 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. The stock has a fifty day moving average price of $66.42 and a two-hundred day moving average price of $63.97. Alliant Energy Corporation has a 52-week low of $56.20 and a 52-week high of $69.75. 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 earnings results on Thursday, November 6th. The company reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.05). The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.34 billion. Alliant Energy had a return on equity of 12.25% and a net margin of 20.07%.The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.15 EPS. Alliant Energy has set its FY 2025 guidance at 3.170-3.23 EPS. As a group, analysts anticipate that Alliant Energy Corporation will post 3.23 EPS for the current fiscal year.

Alliant Energy Announces Dividend

The company also recently announced 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 is Friday, October 31st. This represents a $2.03 dividend on an annualized basis and a dividend yield of 3.0%. Alliant Energy’s payout ratio is 62.65%.

Alliant Energy Company 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.