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

Alliant Energy Co. (NASDAQ:LNT) declared a quarterly dividend on Monday, April 15th, RTT News reports. Shareholders of record on Tuesday, April 30th will be given a dividend of 0.48 per share on Wednesday, May 15th. This represents a $1.92 annualized dividend and a yield of 4.00%.

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

NASDAQ LNT opened at $48.00 on Tuesday. Alliant Energy has a fifty-two week low of $45.15 and a fifty-two week high of $56.26. The stock’s 50-day moving average is $48.64 and its two-hundred day moving average is $49.46. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.55 and a quick ratio of 0.40. The firm has a market cap of $12.29 billion, a P/E ratio of 17.27, a price-to-earnings-growth ratio of 2.56 and a beta of 0.55.

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

Insider Activity

In other news, CEO Lisa M. Barton bought 1,100 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was bought at an average price of $48.56 per share, for a total transaction of $53,416.00. Following the completion of the purchase, the chief executive officer now owns 36,444 shares of the company’s stock, valued at approximately $1,769,720.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of LNT. Harbour Investments Inc. grew its holdings in Alliant Energy by 6.4% during the 4th quarter. Harbour Investments Inc. now owns 57,208 shares of the company’s stock worth $2,935,000 after acquiring an additional 3,440 shares during the period. Aspect Partners LLC acquired a new stake in Alliant Energy during the 4th quarter worth $83,000. Public Employees Retirement System of Ohio grew its holdings in Alliant Energy by 2.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 105,259 shares of the company’s stock worth $5,400,000 after acquiring an additional 2,876 shares during the period. Mercer Global Advisors Inc. ADV grew its holdings in Alliant Energy by 1.9% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 21,048 shares of the company’s stock worth $1,080,000 after acquiring an additional 385 shares during the period. Finally, Systematic Portfolios LLC acquired a new stake in Alliant Energy during the 4th quarter worth $230,000. Institutional investors own 79.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Bank of America decreased their target price on Alliant Energy from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday, April 11th. Barclays reissued an “equal weight” rating and set a $53.00 target price (up from $50.00) on shares of Alliant Energy in a research report on Tuesday, January 2nd. Finally, BMO Capital Markets lifted their target price on Alliant Energy from $51.00 to $53.00 and gave the stock a “market perform” rating in a research report on Monday. One 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price 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.