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

Alliant Energy Co. (NASDAQ:LNT) announced a quarterly dividend on Tuesday, October 15th, RTT News reports. Investors of record on Thursday, October 31st will be paid a dividend of 0.48 per share on Friday, November 15th. This represents a $1.92 annualized dividend and a yield of 3.14%.

Alliant Energy has increased its dividend payment by an average of 6.0% per year over the last three years and has raised its dividend every year for the last 21 years. Alliant Energy has a payout ratio of 58.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Alliant Energy to earn $3.27 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 58.7%.

Alliant Energy Trading Up 1.2 %

Alliant Energy stock traded up $0.70 during mid-day trading on Tuesday, hitting $61.08. 1,613,899 shares of the stock were exchanged, compared to its average volume of 1,595,581. The firm’s fifty day simple moving average is $58.75 and its two-hundred day simple moving average is $53.93. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.31. Alliant Energy has a 12 month low of $46.80 and a 12 month high of $61.65. The stock has a market capitalization of $15.66 billion, a price-to-earnings ratio of 22.25, a PEG ratio of 2.83 and a beta of 0.58.

Alliant Energy (NASDAQ:LNT) last released its earnings results on Thursday, August 1st. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.07). The business had revenue of $894.00 million for the quarter, compared to analyst estimates of $897.03 million. Alliant Energy had a return on equity of 10.23% and a net margin of 15.77%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.64 EPS. Analysts forecast that Alliant Energy will post 3.05 EPS for the current year.

Wall Street Analyst Weigh In

LNT has been the subject of several research reports. Mizuho raised their target price on Alliant Energy from $52.00 to $61.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. Bank of America lifted their target price on Alliant Energy from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Barclays boosted their price target on shares of Alliant Energy from $55.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday. BMO Capital Markets upped their price objective on Alliant Energy from $58.00 to $60.00 and gave the company a “market perform” rating in a research note on Tuesday, August 6th. Finally, Jefferies Financial Group initiated coverage on shares of Alliant Energy in a research report on Thursday, September 19th. They set a “hold” rating and a $67.00 target price for the company. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $62.83.

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.