Alliant Energy (NYSE:LNT) announced that its Board of Directors has initiated a share repurchase plan, which authorizes the company to buyback outstanding shares on Monday, January 15th, EventVestor reports. This buyback authorization authorizes the utilities provider to purchase shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.
A number of brokerages have issued reports on LNT. Wells Fargo & Co downgraded Alliant Energy from an “outperform” rating to a “market perform” rating in a research report on Monday, December 18th. Bank of America began coverage on Alliant Energy in a research report on Tuesday, October 24th. They set a “neutral” rating and a $45.00 price objective on the stock. Guggenheim restated a “hold” rating and set a $43.00 price objective on shares of Alliant Energy in a research report on Wednesday, January 3rd. Finally, Zacks Investment Research downgraded Alliant Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. Alliant Energy has an average rating of “Hold” and a consensus target price of $42.17.
Shares of Alliant Energy (NYSE:LNT) traded down $0.31 during mid-day trading on Tuesday, reaching $39.53. The company’s stock had a trading volume of 1,642,800 shares, compared to its average volume of 1,594,911. Alliant Energy has a fifty-two week low of $36.56 and a fifty-two week high of $45.55. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.36 and a current ratio of 0.51. The stock has a market capitalization of $9,130.00, a P/E ratio of 21.37, a PEG ratio of 2.92 and a beta of 0.47.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st will be issued a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 3.39%. This is an increase from Alliant Energy’s previous quarterly dividend of $0.32. Alliant Energy’s dividend payout ratio is presently 68.11%.
TRADEMARK VIOLATION WARNING: This article was originally reported by American Banking News and is the property of of American Banking News. If you are viewing this article on another website, it was stolen and republished in violation of U.S. & international trademark and copyright laws. The correct version of this article can be accessed at https://www.americanbankingnews.com/2018/01/16/stock-repurchase-plan-initiated-by-alliant-energy-lnt.html.
Alliant Energy Company Profile
Alliant Energy Corporation operates as a regulated investor-owned public utility holding company. The Company’s segments include Utility and Non-regulated, Parent and Other. The Utility segment includes the operations of Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL), which serve retail customers in Iowa and Wisconsin.
Receive News & Ratings for Alliant Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alliant Energy and related companies with MarketBeat.com's FREE daily email newsletter.