Company Reports

Alliant Energy reported second-quarter operating earnings per share of $0.65, compared with $0.68 from the same year-ago period, putting the company on track to meet our and management's full-year expectations.

Alliant Energy operates two utilities in the Midwest, Wisconsin Power and Light and Interstate Power and Light, which operates in Iowa.

Alliant Energy reported first-quarter operating earnings per share of $0.82, compared to $0.83 in the same year-ago period, putting the company on track to meet our expectations and management's expectations.

The Midcontinent Independent System Operator recently released its updated long-term load forecast, which includes a large increase in its energy demand outlook driven by higher data center and manufacturing demand.

Alliant Energy operates two utilities in the Midwest, Wisconsin Power and Light and Interstate Power and Light, which operates in Iowa.

Alliant Energy reported full-year 2025 operating earnings per share of $3.22, up from $3.04 in 2024 and in line with our and management's expectations.

Alliant Energy operates two utilities in the Midwest, Wisconsin Power and Light and Interstate Power and Light, which operates in Iowa.

Alliant Energy reported third-quarter operating earnings per share of $1.12, down from $1.15 in the same year-ago quarter.

Alliant Energy reported second-quarter operating earnings per share of $0.68, up from $0.57 in the same year-ago quarter, putting the company on track to meet our and management's full-year expectations of $3.15-$3.25 per share.

Alliant Energy operates two utilities in the Midwest, Wisconsin Power and Light and Interstate Power and Light, which operates in Iowa.

Alliant Energy reported first-quarter operating earnings per share of $0.83, up from $0.62 from the same year-ago quarter, putting the company on track to meet our and management's full-year expectations.

Utilities have limited direct exposure to the tariffs announced by the Trump administration, but falling energy demand or regulatory pushback to utilities' investment plans could slow earnings growth if economic conditions deteriorate.

Alliant Energy operates two utilities in the Midwest, Wisconsin Power and Light and Interstate Power and Light, which operates in Iowa.

Alliant Energy reported 2024 operating earnings per share of $3.04, in line with our full-year expectations and up 8% from 2023.

We expect Alliant Energy to invest $11 billion from 2025 to 2028, supporting 10% rate base growth. We forecast the company will achieve the high end of management's 5%-7% annual earnings growth target.

We are maintaining our $59 fair value estimate for narrow-moat-rated Alliant Energy after the company reported third-quarter operating earnings per share of $1.15, compared with $1.05 in the year-ago period.

We expect Alliant Energy to invest over $11 billion from 2024 to 2028, supporting 8% rate base growth. We forecast the company will achieve the top half of management's 5%-7% annual earnings growth target. Management estimates up to $14 billion of capital investment opportunities from 2028 to 2032, supporting growth beyond our forecast.

We are maintaining our $58 fair value estimate for narrow-moat-rated Alliant Energy after the company reported second-quarter operating earnings per share of $0.57, compared with $0.64 in the year-ago period. Results were affected by income tax expense timing, with the temporary impact having no impact on our full-year expectations.

We are maintaining our $58 fair value estimate for narrow-moat-rated Alliant Energy after the company reported first-quarter operating earnings per share of $0.62, compared with $0.65 in the year-ago period.

We expect Alliant Energy to invest over $11 billion from 2024-28, supporting our expectation that the company will achieve the top half of management's 5%-7% growth target. Management estimates continued significant capital investment opportunities in the second half of the decade, supporting growth beyond our forecast.