Alliant Energy Co. (NASDAQ:LNT) Announces Quarterly Dividend of $0.51

Alliant Energy Co. (NASDAQ:LNT - Get Free Report) declared a quarterly dividend on Wednesday, April 2nd, RTT News reports. Shareholders of record on Wednesday, April 30th will be given a dividend of 0.5075 per share on Thursday, May 15th. This represents a $2.03 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Wednesday, April 30th.

Alliant Energy has increased its dividend by an average of 6.0% per year over the last three years and has increased its dividend every year for the last 21 years. Alliant Energy has a dividend payout ratio of 59.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Alliant Energy to earn $3.45 per share next year, which means the company should continue to be able to cover its $2.03 annual dividend with an expected future payout ratio of 58.8%.

Alliant Energy Stock Performance

Shares of LNT stock traded down $1.55 on Monday, reaching $59.81. The stock had a trading volume of 3,748,791 shares, compared to its average volume of 1,581,023. The company has a quick ratio of 0.72, a current ratio of 0.86 and a debt-to-equity ratio of 1.33. The firm's 50-day moving average is $62.16 and its two-hundred day moving average is $60.82. Alliant Energy has a 12 month low of $47.23 and a 12 month high of $66.54. The firm has a market capitalization of $15.35 billion, a price-to-earnings ratio of 22.23, a P/E/G ratio of 2.83 and a beta of 0.52.

Alliant Energy (NASDAQ:LNT - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.68 by $0.02. The firm had revenue of $976.00 million during the quarter, compared to the consensus estimate of $1.14 billion. Alliant Energy had a net margin of 17.33% and a return on equity of 11.39%. On average, research analysts expect that Alliant Energy will post 3.23 EPS for the current fiscal year.

Remove Ads

Analyst Upgrades and Downgrades

LNT has been the topic of several recent analyst reports. Scotiabank lowered shares of Alliant Energy from a "sector outperform" rating to a "sector perform" rating and raised their target price for the company from $64.00 to $67.00 in a report on Thursday, December 12th. UBS Group upped their target price on Alliant Energy from $65.00 to $68.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Guggenheim reiterated a "neutral" rating and issued a $57.00 price target on shares of Alliant Energy in a research note on Monday, February 24th. Finally, BMO Capital Markets upped their price objective on Alliant Energy from $60.00 to $66.00 and gave the stock a "market perform" rating in a research report on Monday, February 24th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $63.55.

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.