Alliant Energy (LNT) to Buyback Outstanding Stock
Alliant Energy (NYSE:LNT) announced that its Board of Directors has authorized a stock buyback program, which authorizes the company to buyback outstanding shares on Monday, January 15th, EventVestor reports. This buyback authorization authorizes the utilities provider to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
Alliant Energy (NYSE LNT) opened at $39.56 on Wednesday. The company has a market capitalization of $9,130.00, a P/E ratio of 21.38, a PEG ratio of 2.92 and a beta of 0.47. Alliant Energy has a 52 week low of $36.56 and a 52 week high of $45.55. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.36 and a current ratio of 0.51.
Alliant Energy (NYSE:LNT) last released its earnings results on Thursday, November 2nd. The utilities provider reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.13). The business had revenue of $907.00 million for the quarter, compared to the consensus estimate of $1.23 billion. Alliant Energy had a net margin of 13.13% and a return on equity of 11.02%. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.80 EPS. sell-side analysts forecast that Alliant Energy will post 1.96 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st will be paid a dividend of $0.335 per share. This is a boost from Alliant Energy’s previous quarterly dividend of $0.32. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.39%. Alliant Energy’s dividend payout ratio is currently 68.11%.
LNT has been the topic of several analyst reports. Guggenheim reissued a “hold” rating and set a $43.00 price objective on shares of Alliant Energy in a research note on Wednesday, January 3rd. Wells Fargo & Co cut Alliant Energy from an “outperform” rating to a “market perform” rating in a research note on Monday, December 18th. Zacks Investment Research cut Alliant Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, October 24th. Finally, Bank of America initiated coverage on Alliant Energy in a research note on Tuesday, October 24th. They set a “neutral” rating and a $45.00 price objective on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. Alliant Energy presently has a consensus rating of “Hold” and a consensus price target of $42.17.
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Alliant Energy Company Profile
Alliant Energy Corporation operates as a regulated investor-owned public utility holding company. The Company’s segments include Utility and Non-regulated, Parent and Other. The Utility segment includes the operations of Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL), which serve retail customers in Iowa and Wisconsin.
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