Alliant Energy Co. (NYSE:LNT) announced a quarterly dividend on Monday, January 14th, RTT News reports. Shareholders of record on Thursday, January 31st will be given 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 yield of 3.38%. This is an increase 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 payout ratio of 62.9% meaning its dividend is sufficiently covered by earnings. Equities research 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%.
LNT stock opened at $41.96 on Monday. The stock has a market capitalization of $9.93 billion, a price-to-earnings ratio of 21.74, a price-to-earnings-growth ratio of 3.28 and a beta of 0.18. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.73 and a quick ratio of 0.59. Alliant Energy has a 12 month low of $36.84 and a 12 month high of $46.58.
Alliant Energy (NYSE:LNT) last released its quarterly earnings data on Tuesday, November 6th. The utilities provider reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.01. The company had revenue of $928.60 million during the quarter, compared to the consensus estimate of $1.08 billion. Alliant Energy had a net margin of 15.09% and a return on equity of 11.69%. Alliant Energy’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 EPS. On average, sell-side analysts expect that Alliant Energy will post 2.15 earnings per share for the current year.
A number of analysts have commented on the stock. Mizuho assumed coverage on shares of Alliant Energy in a report on Monday, October 8th. They issued a “neutral” rating and a $44.00 price objective for the company. ValuEngine upgraded shares of Alliant Energy from a “hold” rating to a “buy” rating in a report on Thursday, October 11th. Bank of America downgraded shares of Alliant Energy from a “neutral” rating to an “underperform” rating in a report on Wednesday, November 21st. Wells Fargo & Co increased their price objective 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, Argus increased their price objective on shares of Alliant Energy from $47.00 to $49.00 and gave the company a “buy” rating in a report on Tuesday, December 18th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price 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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