Alliant Energy Co. (NASDAQ:LNT) Plans $0.48 Quarterly Dividend

Alliant Energy Co. (NASDAQ:LNT) declared a quarterly dividend on Monday, April 15th, RTT News reports. Investors of record on Tuesday, April 30th will be paid a dividend of 0.48 per share on Wednesday, May 15th. This represents a $1.92 annualized dividend and a yield of 3.87%. The ex-dividend date is Monday, April 29th.

Alliant Energy has raised its dividend payment by an average of 6.0% annually over the last three years and has increased its dividend every year for the last 21 years. Alliant Energy has a payout ratio of 58.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Alliant Energy to earn $3.26 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 58.9%.

Alliant Energy Price Performance

Shares of NASDAQ:LNT opened at $49.59 on Friday. The company has a market cap of $12.70 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 2.68 and a beta of 0.55. Alliant Energy has a twelve month low of $45.15 and a twelve month high of $56.26. The company’s 50 day moving average is $48.90 and its 200 day moving average is $49.54. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.21.

Alliant Energy (NASDAQ:LNT) last issued its quarterly earnings data on Friday, February 16th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.07). The firm had revenue of $961.00 million during the quarter, compared to analyst estimates of $1.25 billion. Alliant Energy had a return on equity of 10.85% and a net margin of 17.46%. During the same quarter last year, the company posted $0.46 EPS. On average, sell-side analysts forecast that Alliant Energy will post 3.07 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Scotiabank decreased their price objective on shares of Alliant Energy from $57.00 to $53.00 and set a “sector outperform” rating for the company in a research report on Monday, April 22nd. Bank of America reduced their price target on shares of Alliant Energy from $55.00 to $54.00 and set a “buy” rating for the company in a research report on Thursday, April 11th. BMO Capital Markets upped their price target on shares of Alliant Energy from $51.00 to $53.00 and gave the stock a “market perform” rating in a research report on Monday, April 15th. Finally, Barclays restated an “equal weight” rating and set a $53.00 price target (up previously from $50.00) on shares of Alliant Energy in a research report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Alliant Energy currently has a consensus rating of “Hold” and an average price target of $51.36.

Insider Activity at Alliant Energy

In other Alliant Energy news, CEO Lisa M. Barton acquired 1,100 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was bought at an average price of $48.56 per share, with a total value of $53,416.00. Following the purchase, the chief executive officer now owns 36,444 shares in the company, valued at $1,769,720.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.31% of the stock is owned by corporate insiders.

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.