Alliant Energy (LNT) to Buyback Shares

Alliant Energy (NYSE:LNT) announced that its Board of Directors has approved a stock repurchase plan, which allows the company to buyback outstanding shares on Monday, January 15th, EventVestor reports. This buyback authorization allows the utilities provider to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Shares of Alliant Energy (NYSE LNT) opened at $39.41 on Friday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.36 and a current ratio of 0.51. Alliant Energy has a 52 week low of $36.56 and a 52 week high of $45.55. The company has a market capitalization of $9,174.19, a price-to-earnings ratio of 21.19, a price-to-earnings-growth ratio of 2.93 and a beta of 0.46.

Alliant Energy (NYSE:LNT) last issued its earnings results on Thursday, November 2nd. The utilities provider reported $0.75 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.13). The business had revenue of $907.00 million for the quarter, compared to analysts’ expectations of $1.23 billion. Alliant Energy had a net margin of 18.90% and a return on equity of 16.50%. The business’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.80 earnings per share. equities research analysts anticipate that Alliant Energy will post 1.96 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st will be paid a $0.335 dividend. This is an increase from Alliant Energy’s previous quarterly dividend of $0.32. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend is Tuesday, January 30th. Alliant Energy’s dividend payout ratio (DPR) is 67.74%.

Several brokerages have commented on LNT. Guggenheim reiterated a “hold” rating and set a $43.00 target price on shares of Alliant Energy in a research note on Wednesday, January 3rd. Wells Fargo & Co downgraded Alliant Energy from an “outperform” rating to a “market perform” rating in a research note on Monday, December 18th. Zacks Investment Research downgraded Alliant Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, October 24th. Finally, Bank of America began coverage on Alliant Energy in a research note on Tuesday, October 24th. They set a “neutral” rating and a $45.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. Alliant Energy presently has an average rating of “Hold” and a consensus price target of $42.17.

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Alliant Energy Company Profile

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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