Alliant Energy Co. (NYSE:LNT) announced a quarterly dividend on Monday, January 14th, RTT News reports. Stockholders of record on Thursday, January 31st will be paid a dividend of 0.355 per share by the utilities provider on Friday, February 15th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 3.38%. This is a positive change from Alliant Energy’s previous quarterly dividend of $0.34.
Alliant Energy has increased its dividend by an average of 6.8% annually over the last three years and has increased its dividend every year for the last 13 years. Alliant Energy has a dividend payout ratio of 62.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Alliant Energy to earn $2.22 per share next year, which means the company should continue to be able to cover its $1.34 annual dividend with an expected future payout ratio of 60.4%.
Shares of LNT opened at $41.96 on Monday. The firm has a market cap of $9.93 billion, a PE ratio of 21.74, a P/E/G ratio of 3.28 and a beta of 0.18. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.59 and a current ratio of 0.73. Alliant Energy has a 1-year low of $36.84 and a 1-year high of $46.58.
Alliant Energy (NYSE:LNT) last posted its quarterly earnings results on Tuesday, November 6th. The utilities provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.84 by $0.01. Alliant Energy had a net margin of 15.09% and a return on equity of 11.69%. The company had revenue of $928.60 million for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the company earned $0.75 earnings per share. The firm’s revenue was up 2.4% on a year-over-year basis. Sell-side analysts anticipate that Alliant Energy will post 2.15 EPS for the current fiscal year.
Several research firms have commented on LNT. Zacks Investment Research lowered shares of Alliant Energy from a “hold” rating to a “sell” rating in a report on Thursday, January 3rd. Mizuho reaffirmed a “hold” rating and issued a $44.50 price target on shares of Alliant Energy in a report on Thursday, November 29th. ValuEngine raised shares of Alliant Energy from a “hold” rating to a “buy” rating in a report on Wednesday, November 21st. Wells Fargo & Co upped their price target on shares of Alliant Energy from $47.00 to $48.00 and gave the company a “market perform” rating in a report on Thursday, November 8th. Finally, Bank of America lowered shares of Alliant Energy from a “neutral” rating to an “underperform” rating in a report on Wednesday, November 21st. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. Alliant Energy presently has an average rating of “Hold” and an average price target of $46.42.
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Alliant Energy Company Profile
Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services in the Midwest region of the United States. It operates through three segments: Electric, Gas, and 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.
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