Alliant Energy Co. (LNT) to Issue Quarterly Dividend of $0.48 on May 15th

Alliant Energy Co. (NASDAQ:LNT) announced a quarterly dividend on Monday, April 15th, RTT News reports. Shareholders 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 yield of 4.05%.

Alliant Energy has raised its dividend by an average of 6.0% annually over the last three years and has raised its dividend annually for the last 21 consecutive years. Alliant Energy has a payout ratio of 58.5% meaning its dividend is sufficiently covered by earnings. Equities research 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

NASDAQ:LNT opened at $47.40 on Wednesday. The firm’s 50-day moving average is $48.63 and its 200-day moving average is $49.45. The company has a market cap of $12.14 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 2.56 and a beta of 0.55. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.40 and a current ratio of 0.55. Alliant Energy has a 52-week low of $45.15 and a 52-week high of $56.26.

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

Insider Transactions at Alliant Energy

In related news, CEO Lisa M. Barton bought 1,100 shares of Alliant Energy stock in a transaction on Tuesday, February 20th. The shares were purchased at an average price of $48.56 per share, for a total transaction of $53,416.00. Following the completion of the acquisition, the chief executive officer now owns 36,444 shares in the company, valued at $1,769,720.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.31% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alliant Energy

Several large investors have recently modified their holdings of the business. HighTower Advisors LLC raised its holdings in shares of Alliant Energy by 0.5% during the first quarter. HighTower Advisors LLC now owns 40,539 shares of the company’s stock worth $2,176,000 after acquiring an additional 196 shares during the period. Linscomb & Williams Inc. lifted its stake in Alliant Energy by 3.9% in the 4th quarter. Linscomb & Williams Inc. now owns 5,298 shares of the company’s stock valued at $293,000 after acquiring an additional 200 shares in the last quarter. Fiduciary Trust Co. boosted its position in Alliant Energy by 1.8% during the 1st quarter. Fiduciary Trust Co. now owns 13,046 shares of the company’s stock worth $697,000 after acquiring an additional 230 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its position 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 valued at $668,000 after purchasing an additional 240 shares in the last quarter. Finally, Clear Street Markets LLC increased its stake in Alliant Energy by 95.3% in the 1st quarter. Clear Street Markets LLC now owns 494 shares of the company’s stock valued at $26,000 after buying an additional 241 shares during the last quarter. 79.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Barclays reaffirmed an “equal weight” rating and set a $53.00 price objective (up from $50.00) on shares of Alliant Energy in a report on Tuesday, January 2nd. BMO Capital Markets boosted their price target on Alliant Energy from $51.00 to $53.00 and gave the company a “market perform” rating in a research note on Monday. Finally, Bank of America dropped 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Alliant Energy presently has a consensus rating of “Hold” and a consensus price target of $53.31.

About Alliant Energy

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.