Madison, Wisconsin-based Alliant Energy Corporation (LNT) operates as a utility holding company, providing regulated electricity and natural gas services. Valued at $15.2 billion by market cap, Alliant serves nearly 1 million electric and 425,000 natural gas retail customers across Iowa and Wisconsin.
The utility major is expected to announce fourth-quarter results on Thursday, Feb. 20. Ahead of the event, analysts expect Alliant Energy to report a non-GAAP profit of $0.68 per share, up a staggering 41.7% from $0.48 per share reported in the year-ago quarter. While the company has surpassed Wall Street’s earnings expectations once over the past four quarters it has missed the estimates on three other occasions. Its adjusted EPS for the last reported quarter increased 9.5% year-over-year to $1.15, exceeding the consensus estimates by 3.6%.
For the full fiscal 2024, Alliant is expected to report an adjusted EPS of $3.04, up 7.8% from $2.82 in fiscal 2023. While in fiscal 2025, its earnings are expected to increase 6.6% year-over-year to $3.24 per share.
LNT stock has gained 20.3% over the past 52-week period, lagging behind the Utilities Select Sector SPDR Fund’s (XLU) 29.5% returns and the S&P 500 Index’s ($SPX) 25.8% surge during the same time frame.
Despite beating Wall Street’s earnings expectations, Alliant Energy’s stock prices declined 3.8% in the trading session after the release of its Q3 results on Oct. 31. While the company’s total revenues observed a marginal growth compared to the year-ago quarter to $1.1 billion, its non-GAAP net income increased 10.5% year-over-year to $295 million. However, the surge in earnings was primarily due to the timing of income taxes and higher revenue requirements from capital investments at Wisconsin utilities. Meanwhile, Alliant reduced the high point of its full-year earnings guidance which unsettled investor confidence.
The consensus opinion on LNT stock is moderately bullish, with an overall “Moderate Buy” rating. Out of the 12 analysts covering the stock, four recommend “Strong Buy” and eight suggest a “Hold” rating. Its mean price target of $62.35 represents a modest 6.2% premium to current price levels.
