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

Alliant Energy Co. (NASDAQ:LNT) announced a quarterly dividend on Monday, April 15th, RTT News reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.00%.

Alliant Energy has raised its dividend payment by an average of 6.0% annually over the last three years and has raised its dividend every year for the last 21 years. Alliant Energy has a payout ratio of 58.5% 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 Stock Performance

Shares of LNT stock opened at $48.00 on Tuesday. Alliant Energy has a 12 month low of $45.15 and a 12 month high of $56.26. The stock has a market cap of $12.29 billion, a PE ratio of 17.27, a price-to-earnings-growth ratio of 2.56 and a beta of 0.55. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.21. The company’s fifty day moving average price is $48.64 and its 200-day moving average price is $49.46.

Alliant Energy (NASDAQ:LNT) last announced its earnings results on Friday, February 16th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.07). The business had revenue of $961.00 million for the quarter, compared to the consensus estimate of $1.25 billion. Alliant Energy had a net margin of 17.46% and a return on equity of 10.85%. During the same quarter last year, the firm posted $0.46 EPS. On average, equities analysts expect that Alliant Energy will post 3.07 EPS for the current fiscal year.

Insider Activity

In related news, CEO Lisa M. Barton purchased 1,100 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were bought at an average price of $48.56 per share, for a total transaction of $53,416.00. Following the acquisition, the chief executive officer now owns 36,444 shares of the company’s stock, valued at approximately $1,769,720.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.31% of the company’s stock.

Institutional Trading of Alliant Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of LNT. HighTower Advisors LLC grew its position in shares of Alliant Energy by 0.5% during the 1st quarter. HighTower Advisors LLC now owns 40,539 shares of the company’s stock worth $2,176,000 after buying an additional 196 shares in the last quarter. Linscomb & Williams Inc. boosted its position in Alliant Energy by 3.9% during the fourth quarter. Linscomb & Williams Inc. now owns 5,298 shares of the company’s stock valued at $293,000 after purchasing an additional 200 shares in the last quarter. Fiduciary Trust Co. boosted its position in Alliant Energy by 1.8% during the first quarter. Fiduciary Trust Co. now owns 13,046 shares of the company’s stock valued at $697,000 after purchasing an additional 230 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in Alliant Energy by 2.0% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 12,100 shares of the company’s stock worth $668,000 after acquiring an additional 240 shares in the last quarter. Finally, Clear Street Markets LLC boosted its holdings in Alliant Energy by 95.3% in the first quarter. Clear Street Markets LLC now owns 494 shares of the company’s stock worth $26,000 after acquiring an additional 241 shares in the last quarter. Hedge funds and other institutional investors own 79.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Barclays reaffirmed 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. Bank of America cut their price objective on Alliant Energy from $55.00 to $54.00 and set a “buy” rating for the company in a research note on Thursday, April 11th. Finally, BMO Capital Markets boosted their price objective on Alliant Energy from $51.00 to $53.00 and gave the company a “market perform” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $53.31.

Alliant Energy Company Profile

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.