Alliant Energy Co. (NYSE:LNT) announced a quarterly dividend on Friday, July 12th, RTT News reports. Stockholders of record on Wednesday, July 31st will be paid 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 dividend yield of 2.85%.
Alliant Energy has raised its dividend payment 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% indicating that its dividend is sufficiently covered by earnings. 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%.
Shares of Alliant Energy stock opened at $49.85 on Friday. The company has a market capitalization of $11.83 billion, a price-to-earnings ratio of 25.83, a price-to-earnings-growth ratio of 3.28 and a beta of 0.18. The firm has a 50-day moving average price of $49.12. Alliant Energy has a one year low of $40.68 and a one year high of $50.60. The company has a current ratio of 0.73, a quick ratio of 0.59 and a debt-to-equity ratio of 1.15.
A number of analysts have recently commented on the company. Argus boosted 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 assumed coverage on Guangshen Railway Co. Ltd ADR Class H in a report on Wednesday, June 26th. They issued an “underperform” rating on the stock. Finally, Zacks Investment Research lowered GenMark Diagnostics from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $48.56.
In related news, SVP James H. Gallegos sold 5,000 shares of Alliant Energy stock in a transaction dated 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 filing with the SEC, which is available at this link. Also, Chairman Patricia L. Kampling sold 10,000 shares of Alliant Energy stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $47.55, for a total value of $475,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,000 shares of company stock worth $1,432,800. 0.25% of the stock is owned by company insiders.
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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