Alliant Energy Co. (NASDAQ:LNT) Declares Dividend Increase – $0.43 Per Share

Alliant Energy Co. (NASDAQ:LNTGet Rating) announced a quarterly dividend on Thursday, April 14th, Zacks reports. Investors of record on Friday, April 29th will be given a dividend of 0.428 per share on Monday, May 16th. This represents a $1.71 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Thursday, April 28th. This is a positive change from Alliant Energy’s previous quarterly dividend of $0.43.

Alliant Energy has raised its dividend payment by an average of 6.3% per year over the last three years and has increased its dividend annually for the last 20 consecutive years. Alliant Energy has a dividend payout ratio of 59.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Alliant Energy to earn $2.91 per share next year, which means the company should continue to be able to cover its $1.71 annual dividend with an expected future payout ratio of 58.8%.

LNT stock opened at $62.07 on Tuesday. The firm has a market cap of $15.57 billion, a PE ratio of 23.69, a PEG ratio of 3.93 and a beta of 0.44. Alliant Energy has a 1 year low of $54.46 and a 1 year high of $65.37. The company has a current ratio of 0.52, a quick ratio of 0.40 and a debt-to-equity ratio of 1.12. The company has a fifty day simple moving average of $60.99 and a 200 day simple moving average of $59.12.

Alliant Energy (NASDAQ:LNTGet Rating) last announced its earnings results on Thursday, February 17th. The company reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. Alliant Energy had a net margin of 18.37% and a return on equity of 11.44%. The firm had revenue of $927.00 million for the quarter. During the same quarter last year, the business earned $0.24 EPS. As a group, analysts forecast that Alliant Energy will post 2.74 EPS for the current fiscal year.

Several research firms have issued reports on LNT. Wells Fargo & Company reduced their price objective on Alliant Energy from $61.00 to $60.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 22nd. Bank of America cut Alliant Energy from a “neutral” rating to an “underperform” rating and raised their price target for the company from $57.00 to $60.00 in a report on Wednesday, January 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Alliant Energy currently has an average rating of “Hold” and a consensus price target of $61.50.

A number of large investors have recently added to or reduced their stakes in LNT. Morgan Stanley boosted its stake in Alliant Energy by 71.1% during the 2nd quarter. Morgan Stanley now owns 1,180,570 shares of the company’s stock worth $65,829,000 after acquiring an additional 490,768 shares during the last quarter. Squarepoint Ops LLC boosted its stake in Alliant Energy by 45.7% during the 4th quarter. Squarepoint Ops LLC now owns 7,112 shares of the company’s stock worth $437,000 after acquiring an additional 2,230 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its stake in Alliant Energy by 61.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 120,781 shares of the company’s stock worth $7,424,000 after acquiring an additional 46,047 shares during the last quarter. MML Investors Services LLC boosted its stake in Alliant Energy by 27.6% during the 4th quarter. MML Investors Services LLC now owns 5,357 shares of the company’s stock worth $329,000 after acquiring an additional 1,159 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in Alliant Energy during the 4th quarter worth approximately $489,000. 74.42% of the stock is currently owned by hedge funds and other institutional investors.

Alliant Energy Company Profile (Get Rating)

Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services. It operates through 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.

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Dividend History for Alliant Energy (NASDAQ:LNT)

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