Equities research analysts predict that Alliant Energy Co. (NYSE:LNT) will announce $0.38 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Alliant Energy’s earnings. The lowest EPS estimate is $0.34 and the highest is $0.41. Alliant Energy reported earnings per share of $0.28 during the same quarter last year, which indicates a positive year over year growth rate of 35.7%. The firm is scheduled to report its next quarterly earnings results after the market closes on Thursday, February 22nd.
On average, analysts expect that Alliant Energy will report full-year earnings of $1.95 per share for the current financial year, with EPS estimates ranging from $1.93 to $1.97. For the next financial year, analysts forecast that the business will post earnings of $2.12 per share, with EPS estimates ranging from $2.10 to $2.15. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that that provide coverage for Alliant Energy.
A number of equities analysts recently commented on LNT shares. Bank of America started coverage on Alliant Energy in a report on Tuesday, October 24th. They set a “neutral” rating and a $45.00 price target for the company. Zacks Investment Research cut Alliant Energy from a “hold” rating to a “sell” rating in a report on Tuesday, October 24th. Wells Fargo & Co cut Alliant Energy from an “outperform” rating to a “market perform” rating in a report on Monday, December 18th. Guggenheim restated a “hold” rating and set a $43.00 price objective on shares of Alliant Energy in a report on Wednesday, January 3rd. Finally, UBS Group assumed coverage on Alliant Energy in a report on Friday. They set a “neutral” rating and a $40.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $42.80.
Alliant Energy announced that its Board of Directors has initiated a share repurchase program on Monday, January 15th that permits the company to buyback shares. This buyback authorization permits the utilities provider to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st will be issued a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend is Tuesday, January 30th. This is a boost from Alliant Energy’s previous quarterly dividend of $0.32. Alliant Energy’s payout ratio is currently 72.43%.
Several large investors have recently modified their holdings of the company. New York State Common Retirement Fund increased its holdings in shares of Alliant Energy by 1.4% during the third quarter. New York State Common Retirement Fund now owns 483,500 shares of the utilities provider’s stock worth $20,099,000 after buying an additional 6,500 shares in the last quarter. Cohen & Steers Inc. increased its holdings in shares of Alliant Energy by 12.0% during the third quarter. Cohen & Steers Inc. now owns 2,166,123 shares of the utilities provider’s stock worth $90,046,000 after buying an additional 232,090 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Alliant Energy by 18.0% during the third quarter. BNP Paribas Arbitrage SA now owns 136,862 shares of the utilities provider’s stock worth $5,689,000 after buying an additional 20,876 shares in the last quarter. Nationwide Fund Advisors increased its holdings in shares of Alliant Energy by 7.4% during the third quarter. Nationwide Fund Advisors now owns 182,881 shares of the utilities provider’s stock worth $7,602,000 after buying an additional 12,600 shares in the last quarter. Finally, Swiss National Bank increased its holdings in shares of Alliant Energy by 1.2% during the third quarter. Swiss National Bank now owns 839,298 shares of the utilities provider’s stock worth $34,890,000 after buying an additional 9,800 shares in the last quarter. Institutional investors own 68.42% of the company’s stock.
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About Alliant Energy
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.
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