Bahl & Gaynor Inc. has significantly increased its investment in Alliant Energy Corporation, raising its holdings by 26.8% during the second quarter of 2023. This information comes from the firm’s latest 13F filing with the Securities and Exchange Commission. Following the acquisition of an additional 127,201 shares, Bahl & Gaynor now owns a total of 601,302 shares of Alliant Energy’s stock, which is valued at approximately $36.36 million.
This strategic move is part of a broader trend among institutional investors, many of whom have adjusted their positions in Alliant Energy. Notably, Vanguard Group Inc. increased its stake by 1.5% to 33,303,702 shares, worth around $2.01 billion. Similarly, Massachusetts Financial Services Co. raised its holdings by 5.7%, bringing its total to 7,082,060 shares valued at $428.25 million.
Other firms also made noteworthy changes. Northern Trust Corp. lifted its stake by 1.3%, while Legal & General Group Plc increased its position by 6.7%. Charles Schwab Investment Management Inc. also slightly boosted its holdings by 0.8% in the first quarter. Collectively, institutional investors now control approximately 79.90% of Alliant Energy’s stock.
Analysts Weigh In on Alliant Energy
Several analysts have recently revised their ratings and price targets for Alliant Energy. On October 17, Bank of America raised its target price from $70.00 to $74.00, recommending a “buy” rating. In contrast, Wall Street Zen downgraded the stock from a “hold” to a “sell” rating on November 8. BMO Capital Markets also increased its target price from $68.00 to $71.00, maintaining a “market perform” rating. Meanwhile, Barclays set a price target of $65.00 with an “underweight” rating.
Overall, five investment analysts currently rate Alliant Energy as a buy, three have issued a hold rating, and one has assigned a sell rating. According to data from MarketBeat, the stock has an average rating of “hold” and a mean price target of $69.00.
Alliant Energy’s Stock Performance and Financial Overview
Trading at $68.27 on the most recent Friday, Alliant Energy Corporation has experienced a robust year with a 52-week high of $69.75 and a low of $56.30. The company’s market capitalization stands at $17.55 billion, and it has a price-to-earnings ratio of 21.07.
In its latest earnings report, released on November 6, Alliant Energy reported earnings per share of $1.12, falling short of analysts’ expectations of $1.17. The firm’s quarterly revenue was $1.21 billion, below the consensus estimate of $1.34 billion. Despite this, Alliant Energy demonstrated an 11.9% increase in revenue year-over-year, indicating solid growth. The company has a return on equity of 12.25% and a net margin of 20.07%.
Looking ahead, Alliant Energy has set its fiscal year 2025 guidance at $3.170-3.230 per share, with forecasts suggesting a potential earnings per share of $3.23 for the current fiscal year.
In addition, Alliant Energy declared a quarterly dividend of $0.5075 per share, which was paid on November 17. Shareholders who held shares as of October 31 received this dividend, reflecting an annualized payout of $2.03 and a yield of 3.0%. The company’s dividend payout ratio stands at 63.84%.
Alliant Energy Corporation operates as a utility holding company, providing regulated electricity and natural gas services across the United States. It functions through three segments: Utility Electric Operations, Utility Gas Operations, and Utility Other, serving both retail and wholesale customers.
This strategic shift by Bahl & Gaynor, along with the actions of other institutional investors, indicates a growing confidence in Alliant Energy’s future performance despite recent earnings challenges.
