Alliant Energy Co. (NYSE:LNT) announced a quarterly dividend on Friday, July 12th, RTT News reports. Investors of record on Wednesday, July 31st will be given a dividend of 0.355 per share by the utilities provider on Thursday, August 15th. This represents a $1.42 dividend on an annualized basis and a yield of 2.85%.
Alliant Energy has raised its dividend by an average of 6.8% per year over the last three years and has increased its dividend every year for the last 13 years. Alliant Energy has a dividend payout ratio of 66.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Alliant Energy to earn $2.22 per share next year, which means the company should continue to be able to cover its $1.42 annual dividend with an expected future payout ratio of 64.0%.
LNT stock opened at $49.85 on Friday. The company’s fifty day simple moving average is $49.12. Alliant Energy has a fifty-two week low of $40.68 and a fifty-two week high of $50.60. The firm has a market cap of $11.83 billion, a PE ratio of 25.83, a price-to-earnings-growth ratio of 3.28 and a beta of 0.18. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.73 and a quick ratio of 0.59.
Alliant Energy (NYSE:LNT) last released its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.02. Alliant Energy had a return on equity of 11.69% and a net margin of 15.09%. The firm had revenue of $987.20 million during the quarter, compared to analysts’ expectations of $903.85 million. During the same period last year, the firm posted $0.52 EPS. The business’s revenue was up 7.7% on a year-over-year basis. As a group, equities research analysts forecast that Alliant Energy will post 2.15 earnings per share for the current year.
A number of equities research analysts recently weighed in on LNT shares. Argus raised their price target on Aqua America from $2.00 to $43.00 in a report on Wednesday, June 5th. They noted that the move was a valuation call. Bank of America started coverage on Guangshen Railway Co. Ltd ADR Class H in a report on Wednesday, June 26th. They set an “underperform” rating for the company. Finally, Zacks Investment Research cut GenMark Diagnostics from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Alliant Energy has an average rating of “Hold” and a consensus price target of $48.56.
In other news, SVP James H. Gallegos sold 5,000 shares of Alliant Energy stock in a transaction on Friday, June 14th. The stock was sold at an average price of $50.00, for a total value of $250,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Patricia L. Kampling sold 10,000 shares of Alliant Energy stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $46.98, for a total value of $469,800.00. The disclosure for this sale can be found here. Insiders sold a total of 30,000 shares of company stock valued at $1,432,800 over the last three months. Insiders own 0.25% of the company’s stock.
About Alliant Energy
Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services in the Midwest region of the United States. It operates through three segments: Electric, Gas, and 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.
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