Madison, Wisconsin-based Alliant Energy Corporation (LNT) operates as a utility holding company providing regulated electricity and natural gas services in the U.S. With a market cap of $14.1 billion, Alliant Energy operates through Utility Electric Operations, Utility Gas Operations, and Utility Other segments. It is expected to announce its Q2 earnings after the market closes on Thursday, August 1.
Ahead of the event, analysts project Alliant Energy’s profit of $0.71 per share, 10.9% from $0.64 per share reported in the year-ago quarter. The company has surpassed Wall Street’s EPS estimates twice over the past four quarters while missing on the other two occasions. Its EPS for the last reported quarter declined by 4.6% to $0.62, missing the consensus estimates by 6.1%.
Over the longer term, analysts expect Alliant Energy to report an EPS of $3.08 in fiscal 2024, up 9.2% from $2.82 in fiscal 2023. In fiscal 2025, its EPS is expected to grow 6.2% annually to $3.27.
LNT stock has rallied 7.2% on a YTD basis but failed to outperform the S&P 500 Index’s ($SPX) 16.2% gains and the S&P 500 Utilities Sector SPDR’s (XLU) 10.6% returns over the same time frame.
Shares of Alliant Energy have edged up in 2024 but couldn’t quite outpace the broader market. Despite missing on earnings and revenue, largely due to a 25.7% drop in gas utility revenue and warmer temperatures impacting Q1, Alliant’s diverse segments still saw some growth. LNT stock rose marginally on May 2 following its Q1 earnings report.
The company faced hurdles like sluggish Iowa sales and inflation but maintained a solid balance sheet. With its strong utility infrastructure and two-decade track record of dividend growth, Alliant remains a steady player in the utilities sector.
The consensus estimate on Alliant Energy stock is moderately bullish, with a “Moderate Buy” rating overall. Out of the 10 analysts covering the stock, four recommend a “Strong Buy,” and the remaining six analysts suggest a “Hold” rating.
Although Alliant Energy is trading above its average target price of $53.67, the Street-high target of $59 indicates a potential upside of 7.3% from current price levels.
On the date of publication, Sristi Jayaswal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
