Alliant Energy (LNT) AI Stock Analysis

• Market Cap: $16.71B
• Dividend Yield: 3.11%
• Average Volume (3M): 1.70M
• Price to Earnings (P/E): 20.5
• Beta (1Y): 0.12
• Revenue Growth: 7.76%
• EPS Growth: 23.48%
• Country: US
• Employees: 2,998
• Sector: Utilities
• Sector Strength: 65
• Industry: Regulated Electric
• EPS (TTM): 1.12
• Shares Outstanding: 257,053,600
• 10 Day Avg. Volume: 1,472,363
• 30 Day Avg. Volume: 1,696,661
• PEG Ratio: -6.79
• Price to Book (P/B): 2.17
• Price to Sales (P/S): 3.81
• P/FCF Ratio: -14.02
• Enterprise Value/Market Cap: 1.71
• Enterprise Value/Revenue: 6.68
• Enterprise Value/Gross Profit: 16.26
• Enterprise Value/Ebitda: 14.12
• 1Y Price Target: $71.20
• Price Target Upside: 9.25% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 7
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 65 Neutral
• Price Target: $69.00 ▲(5.88% Upside)

The score is driven by stable core financial performance and a strong forward outlook from the latest earnings call (narrowed 2025 guidance, higher 2026 guidance, and large demand-driven growth projects). Offsetting these positives are weaker cash flow metrics and soft technical momentum, while valuation is supported by the dividend but not especially cheap on P/E.

Positive Factors

Regulated utility model

A regulated rate-based business provides structurally predictable revenue and allowed returns on invested capital, supporting steady earnings and rate-base growth. This model underpins long-term cashflow visibility and capital recovery mechanics that are durable across business cycles.

Data center-driven rate base growth

Large, contract-backed data center load additions and a materially higher capex plan create a multi-year growth runway for rate base and regulated earnings. These structural demand contracts support predictable load growth and justify sustained investment and return opportunities through 2029 and beyond.

Strong profitability and ROE

Healthy ROE and solid net and gross margins indicate efficient asset utilization in the regulated business. Durable profitability provides internal resilience to support dividends, underwriting of investment, and the ability to absorb some margin pressure while pursuing rate-base expansion.

Negative Factors

Weak cash flow generation

Negative FCF growth and very low OCF-to-net-income signal structural difficulty converting accounting earnings into cash. Over the medium term this limits internal funding for capex and dividends, increasing reliance on external financing and heightening execution risk on the capex program.

Planned equity issuance / dilution

A multi-year $2.4bn equity raise to fund capex reflects a structural funding gap given current cash generation. Recurring equity issuance can dilute existing shareholders and may pressure returns on equity and per-share metrics during the extended build-out of the rate base.

Rising O&M and generation costs

Sustained increases in O&M and integration costs for new generation can compress margins and raise allowed rates or regulatory scrutiny. If persistent, elevated O&M burdens will reduce incremental returns on new investments and complicate the path to fully realizing projected rate-base economics.

Alliant Energy Business Overview & Revenue Model

Company Description

Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services. It operates through three segments: Utility Electric Operations, Utility Gas Operations, and Utility 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. Alliant Energy Corporation, through its other subsidiary, Wisconsin Power and Light Company (WPL), generates and distributes electricity, and distributes and transports natural gas to retail customers in Wisconsin; and sells electricity to wholesale customers in Wisconsin. As of December 31, 2021, IPL supplied electric and natural gas service to approximately 500,000 and 225,000 retail customers respectively; and WPL supplied electric and natural gas service to approximately 485,000 and 200,000 retail customers, respectively. It serves retail customers in the farming, agriculture, industrial manufacturing, chemical, and packaging and food industries. In addition, the company owns and operates a short-line rail freight service in Iowa; a barge, rail, and truck freight terminal on the Mississippi River; and a rail-served warehouse in Iowa, as well as offers freight brokerage services. Further, it holds interests in a 347 megawatt (MW) natural gas-fired electric generating unit near Sheboygan Falls, Wisconsin; and a 225 MW wind farm located in Oklahoma. The company was incorporated in 1981 and is headquartered in Madison, Wisconsin.

How the Company Makes Money

Alliant Energy generates revenue primarily through the sale of electricity and natural gas to its customers. The company operates under a regulated utility model, which allows it to earn a return on investment through rates that are approved by state regulatory commissions. Key revenue streams include residential, commercial, and industrial electric sales, as well as natural gas sales and transportation services. Additionally, Alliant Energy benefits from various partnerships and investments in renewable energy projects, which not only diversify its energy portfolio but also align with regulatory and market trends towards cleaner energy. The company also engages in demand-side management programs and energy efficiency initiatives, which further enhance its revenue potential while supporting customer satisfaction and regulatory compliance.

Alliant Energy Financial Statement Overview

Summary

Alliant Energy demonstrates solid profitability and operational efficiency, with strong margins and positive revenue growth. However, high leverage and challenges in cash flow conversion present potential risks. The company's financial health is stable but requires careful management of debt and cash flows.

Income Statement

Alliant Energy shows strong profitability with a consistent gross profit margin around 42% and a net profit margin improving to 19% in the TTM. Revenue growth is positive at 1.64% TTM, indicating a recovery from previous declines. EBIT and EBITDA margins are robust, reflecting efficient operations.

Balance Sheet

The company maintains a high debt-to-equity ratio of 1.58, indicating significant leverage, which is common in the utility industry. Return on equity is stable at 11.19%, showing effective use of equity. The equity ratio is moderate, suggesting balanced asset financing.

Cash Flow

Cash flow performance is mixed, with a negative free cash flow growth rate of -2.28% TTM. The operating cash flow to net income ratio is 0.43, indicating moderate cash generation relative to net income. The free cash flow to net income ratio is below 0.5, reflecting challenges in converting income to free cash flow.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	4.28B	3.98B	4.03B	4.21B	3.67B	3.42B
Gross Profit	1.76B	1.78B	1.73B	1.71B	1.56B	1.46B
EBITDA	2.02B	1.80B	1.78B	1.69B	1.54B	1.44B
Net Income	818.00M	690.00M	703.00M	686.00M	674.00M	624.00M
Balance Sheet
Total Assets	24.63B	22.71B	21.24B	20.16B	18.55B	17.71B
Cash, Cash Equivalents and Short-Term Investments	753.00M	81.00M	62.00M	20.00M	39.00M	54.00M
Total Debt	11.92B	10.41B	9.51B	8.72B	7.88B	7.17B
Total Liabilities	17.32B	15.71B	14.46B	13.89B	12.56B	11.82B
Stockholders Equity	7.31B	7.00B	6.78B	6.28B	5.99B	5.69B
Cash Flow
Free Cash Flow	339.00M	-1.08B	-987.00M	-998.00M	-587.00M	-865.00M
Operating Cash Flow	1.15B	1.17B	867.00M	486.00M	582.00M	501.00M
Investing Cash Flow	-2.21B	-1.55B	-1.40B	-904.00M	-728.00M	-951.00M
Financing Cash Flow	731.00M	398.00M	573.00M	402.00M	130.00M	488.00M

Alliant Energy Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 65.17
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LNT, the sentiment is Negative. The current price of 65.17 is below the 20-day moving average (MA) of 65.25, below the 50-day MA of 66.34, and above the 200-day MA of 63.67, indicating a neutral trend. The MACD of -0.31 indicates Negative momentum. The RSI at 46.74 is Neutral, neither overbought nor oversold. The STOCH value of 62.80 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for LNT.

Alliant Energy Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EIX	78 Outperform	$23.47B	7.99	19.13%	5.68%	4.43%	123.35%
CMS	67 Neutral	$21.30B	20.20	12.34%	3.10%	10.96%	-0.77%
OGE	67 Neutral	$8.80B	17.17	10.69%	3.82%	18.03%	29.46%
Sector *	66 Neutral	$17.65B	18.10	5.60%	3.62%	6.62%	11.55%
LNT	65 Neutral	$16.71B	20.46	11.46%	3.11%	7.76%	23.48%
PNW	65 Neutral	$10.66B	18.29	8.62%	4.15%	5.70%	-8.25%
EVRG	61 Neutral	$16.76B	19.98	8.36%	3.72%	0.11%	-0.52%

Alliant Energy Corporate Events

Alliant Energy Adds Manu Asthana to Board of Directors

On January 5, 2026, Alliant Energy Corporation and its utility subsidiaries, Interstate Power and Light Company and Wisconsin Power and Light Company, expanded their boards of directors from 10 to 11 members and appointed Manu Asthana, former President and CEO of PJM Interconnection, as a director effective February 23, 2026. Asthana, who led the largest power grid operator in North America from 2020 to 2025 and brings significant experience in financial performance, risk and operations at utility companies, will join the Audit and Operations Committees of each board, stand for election at Alliant Energy’s 2026 annual meeting to serve a term through 2029 if elected, and receive a $300,000 annual retainer for his 2026 board service, signaling a strategic strengthening of governance and operational oversight for the company and its stakeholders.

The most recent analyst rating on (LNT) stock is a Buy with a $75.00 price target. To see the full list of analyst forecasts on Alliant Energy stock, see the LNT Stock Forecast page.

Alliant Energy Announces Leadership Changes with New Appointment

On December 10, 2025, David A. de Leon announced his retirement from Alliant Energy and its subsidiaries after 39 years of service, with his retirement effective around July 1, 2026. Rebecca Cameron Valcq has been appointed as the new President of WPL, effective January 5, 2026, bringing extensive experience from her previous roles in regulatory positions and legal practice, which is expected to influence the company’s strategic direction and operations.

The most recent analyst rating on (LNT) stock is a Buy with a $78.00 price target. To see the full list of analyst forecasts on Alliant Energy stock, see the LNT Stock Forecast page.

Alliant Energy Prices $300M Debentures Offering

On December 2, 2025, Wisconsin Power and Light Company announced the pricing of its public offering of $300 million in 5.700% debentures due in 2055. The proceeds from this offering are intended to reduce outstanding commercial paper and for general corporate purposes, with the offering expected to close on December 5, 2025.

The most recent analyst rating on (LNT) stock is a Buy with a $78.00 price target. To see the full list of analyst forecasts on Alliant Energy stock, see the LNT Stock Forecast page.