As the world races towards a new era of renewable energy, traditional power companies are feeling the heat. However, Alliant Energy Corp. seems to be bucking the trend, thanks to its robust business model and strategic investments. Recently, it has caught the eye of New York-based hedge fund Engineers Gate Manager LP, which raised its holdings in shares of Alliant Energy by 10.7% in the fourth quarter of 2023, according to its latest 13F filing with the SEC.
This move by Engineers Gate Manager LP signals a growing confidence in Alliant Energy’s future prospects and adds to its already impressive track record. The utility company is known for providing regulated electricity and natural gas services to customers in the Midwest through two public subsidiaries. Its operations are categorized into four segments: Electric Utility, Gas Utility, Other Utility, and Non-Utility and Other.
Despite being in a seemingly stagnant industry, Alliant Energy has managed to keep up an impressive growth rate over time. According to recent market statistics, Alliant Energy Co has a fifty-two week low of $47.19 and a fifty-two week high of $64.62 – a testament to its resilience against market volatility.
Perhaps more impressively still is that this firm has achieved all this financial success while remaining committed to sustainable practices – an area many traditional utilities have yet to fully embrace.
Of course these notable achievements could not be accomplished without forward-thinking investment strategies; something that Engineers Gate Manager LP is evidently tuned into. As per latest reports from June 11th 2023, Engineers Gate Manager LP now owns 33,265 shares of Alliant Energy stock – worth approximately $1,837000 –
providing validity to their investment strategy.
While some may see investing in utility companies as unexciting from a portfolio perspective,
investments such as those demonstrated by Engineers Gate Manager LP prove otherwise. This means there are opportunities for astute investors to make sizeable gains by having the foresight and broad perspective to invest in less traditional sectors.
In conclusion, Alliant Energy is a company that deserves recognition for its proven business model and effective approach to sustainable energy provision. The investment made by Engineers Gate Manager LP cements this recognition, but also signals confidence in the future of the industry. Smart investors should take note of these developments, as more investment opportunities in this sector may arise in the coming years.
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Investors flock to Alliant Energy as hedge funds take 75.89% stake in the company
Utility holding company Alliant Energy has welcomed investment from several large investors this year, with firms including Romano Brothers & Company and Accurate Wealth Management buying up positions. Institutional investors and hedge funds now own 75.89% of the firm’s stock. Alliant Energy, which offers regulated electricity and natural gas services to Midwest consumers through its two public utility subsidiaries, released earnings data for Q1 2017 in May. The results showed revenue of $1.08bn, compared to an estimated $1.17bn, with a net margin of 15.6%. On the back of these figures, BMO Capital Markets upgraded the firm’s rating from “market perform” to “outperform”, but lowered their target price for stocks from $60 to $56. Sell-side analysts predict that Alliant will post earnings per share of $2.89 by year end.