Upside case
Bull case
$90+25.5%
LNT would need investors to value it at roughly 26x earnings — about 5x more generous than today's 21x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewBuyUpdated May 1, 2026
Alliant Energy Corporation (LNT) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
23
analysts
12 bullish · 0 bearish · 23 covering LNT
Strong Buy
0
Buy
12
Hold
11
Sell
0
Strong Sell
0
Consensus Target
$76
+5.8% vs today
Scenario Range
$44 – $90
Model bear to bull value window
Coverage
23
Published analyst ratings
Valuation Context
21.0x
Forward P/E · Market cap $18.5B
LNT price targets
Three scenarios for where LNT stock could go
Current
~$72
Confidence
57 / 100
Updated
May 1, 2026
Where we are now
Current · $72
Bear
$44
Base
$78
Bull
$90
Market caseClosest to today
Base case
$78+9.2%
This is close to how the market is already pricing LNT — at roughly 23x forward earnings. No dramatic re-rating needed, just steady execution on the core business.
Stress case
Bear case
$44-39.3%
If investor confidence fades or macro conditions deteriorate, a 8x multiple contraction could push LNT down roughly 39% from where it trades now.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Alliant Energy Corporation
LNT · NASDAQUtilitiesRegulated ElectricDecember year-end
Alliant Energy is a regulated utility holding company that provides electricity and natural gas services to retail and wholesale customers in the Midwest. It generates revenue primarily from regulated utility operations — electric service (~70% of revenue) and natural gas service (~30%) — with rates approved by state commissions. Its key advantage is its regulated monopoly status in its service territories, providing stable cash flows through cost recovery mechanisms and a predictable return on invested capital.
Market Cap
$18.5B
Revenue TTM
$4.4B
Net Income TTM
$760M
Net Margin
17.2%
LNT Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
58%Exceptional
12 quarters tracked
Revenue Beat Rate
58%Exceptional
vs consensus estimates
Avg EPS Surprise
+2.5%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 3 of 4Q3 2025
EPS
$0.68/$0.64
Revenue
$961M/$887M
Q4 2025
EPS
$1.12/$1.18
Revenue
$1.2B/$1.3B
Q1 2026
EPS
$0.60/$0.59
Revenue
$1.1B/$706M
Q2 2026
EPS
$0.82/$0.82
Revenue
$1.2B/$1.1B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $0.68/$0.64 | +5.9% | $961M/$887M | +8.3% |
| Q4 2025 | $1.12/$1.18 | -5.1% | $1.2B/$1.3B | -6.1% |
| Q1 2026 | $0.60/$0.59 | +2.4% | $1.1B/$706M | +50.7% |
| Q2 2026 | $0.82/$0.82 | +0.0% | $1.2B/$1.1B | +10.1% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$4.6B
+4.3% YoY
FY2
$4.9B
+6.2% YoY
EPS Outlook
FY1
$3.22
+9.7% YoY
FY2
$3.43
+6.4% YoY
Trailing FCF (TTM)-$845M
FCF Margin: -19.1%
Next Earnings
—
Expected EPS
—
Expected Revenue
—
LNT beat EPS estimates in 3 of 4 tracked quarters. A strong delivery record supports forward estimate credibility.
LNT Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $4.3B
Product Mix
Latest annual revenue by segment or product family
Electric
86.5%
+9.6% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
Segment breakdown not available for this company.
Electric is the largest disclosed segment at 86.5% of FY 2025 revenue, up 9.6% YoY.
LNT Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Overvalued
Fair value est. $57 — implies -23.4% from today's price.
Premium to Fair Value
23.4%
above fair value
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
LNT
22.8x
vs
S&P 500
25.1x
9% discount
vs Utilities Trailing P/E
LNT
22.8x
vs
Utilities
19.5x
+17% premium
vs LNT 5Y Avg P/E
Today
22.8x
vs
5Y Average
20.9x
+9% premium
Forward PE
21.0x
S&P 500
19.1x
+10%
Utilities
17.3x
+21%
5Y Avg
—
—
Trailing PE
22.8x
S&P 500
25.1x
-9%
Utilities
19.5x
+17%
5Y Avg
20.9x
+9%
PEG Ratio
4.64x
S&P 500
1.70x
+174%
Utilities
1.69x
+175%
5Y Avg
—
—
EV/EBITDA
16.2x
S&P 500
15.3x
+6%
Utilities
12.0x
+35%
5Y Avg
14.9x
+9%
Price/FCF
—
S&P 500
21.4x
—
Utilities
16.2x
—
5Y Avg
—
—
Price/Sales
4.2x
S&P 500
3.1x
+38%
Utilities
2.2x
+90%
5Y Avg
3.7x
+15%
Dividend Yield
2.82%
S&P 500
1.90%
+49%
Utilities
3.10%
-9%
5Y Avg
3.11%
-9%
| Metric | LNT | S&P 500 | Utilities | 5Y Avg LNT |
|---|---|---|---|---|
| Forward PE | 21.0x | 19.1x | 17.3x+21% | — |
| Trailing PE | 22.8x | 25.1x | 19.5x+17% | 20.9x |
| PEG Ratio | 4.64x | 1.70x+174% | 1.69x+175% | — |
| EV/EBITDA | 16.2x | 15.3x | 12.0x+35% | 14.9x |
| Price/FCF | — | 21.4x | 16.2x | — |
| Price/Sales | 4.2x | 3.1x+38% | 2.2x+90% | 3.7x+15% |
| Dividend Yield | 2.82% | 1.90% | 3.10% | 3.11% |
LNT trades above S&P 500 benchmarks on 2 of 5 measured multiples — is elevated on some multiples, but competitive on others — a mixed valuation picture.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolLNT Financial Health
Verdict
Exceptional
LNT earns 23.0% operating margin on regulated earnings, 2.8% dividend yield. Utilities carry higher leverage than industrials as a structural feature of the business model.
Regulated Operations
Revenue, regulated margins, and earnings
Revenue (TTM)
Trailing-twelve-month sales base
$4.4B
Revenue Growth
TTM vs prior year
+8.3%
Operating Margin
Operating income divided by revenue
23.0%
Net Margin
Net income divided by revenue
17.2%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$2.94
Operating Margin
Operating income over revenue — primary regulated earnings signal
23.0%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
4.2%
ROA
Return on assets, trailing twelve months
4.1%
Cash & Equivalents
Liquid assets on the balance sheet
$556M
Net Debt
Total debt minus cash
$11.8B
Debt Serviceability
Net debt as a multiple of annual free cash flow
—
Regulated utilities typically operate at 3–5× net debt/FCF — this is structural, not a risk flag.
ROE *
Return on equity, trailing twelve months
14.0%
* Elevated by buyback-compressed equity — compare ROIC (4.2%) for an undistorted picture of capital efficiency.
Shareholder Returns
How capital is returned to owners
Total shareholder yield
2.8%
Dividend
2.8%
Buyback
0.0%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$0
Dividend / Share
Annualized trailing dividend per share
$2.02
Payout Ratio
Share of earnings distributed as dividends
64.3%
Shares Outstanding
Current diluted share count
258M
All figures from the trailing twelve months. Utilities operate with structural leverage (3–5× net debt/FCF) due to regulated, predictable cash flows.
Open full ratios pageLNT Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 29, 2026
High Risk
Higher Interest Rates
Rising interest rates can significantly increase the cost of debt financing for Alliant Energy's projects, potentially impacting profitability. This financial strain could lead to reduced investment in growth initiatives.
High Risk
Debt Load
Alliant Energy has a notable debt load, with a net debt to EBITDA ratio of 6.1 and a relatively weak interest coverage ratio. This high leverage presents a risk if not managed effectively, especially in a rising interest rate environment.
High Risk
Project Delays or Cancellations
Delays or cancellations in data center projects could negatively affect the near-term growth outlook for Alliant Energy's rate base growth. Such disruptions can lead to significant financial setbacks.
Medium
Increased Operating Expenses
Higher operating and maintenance expenses have been a factor in the stock's underperformance. This trend can erode profit margins and affect overall financial health.
Medium
Economic Downturns
Broader economic conditions and potential recessions can influence financial metrics and company performance. Economic downturns can lead to reduced demand for energy services, impacting revenue.
Medium
Regulatory Changes
Changes in government policy and regulations can impact business operations. Regulatory risks may lead to increased compliance costs or operational restrictions.
Lower
Supply Chain Disruptions
The company is exposed to risks from supply chain disruptions, which have been a factor in the global economy. While these risks are managed, they can still impact project timelines and costs.
Lower
Commodity Price Fluctuations
Fluctuations in commodity prices can impact the business, though these are managed through contract clauses and hedging. However, unexpected price swings can still affect profitability.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why LNT Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 29, 2026
Strong Analyst Recommendations
A significant majority of Wall Street analysts recommend a 'Buy' or 'Strong Buy' for LNT stock, indicating strong market confidence. The consensus rating of 'Moderate Buy' is notably more favorable than the sector average of 'Hold', suggesting a positive outlook for the stock.
Robust Revenue Growth Projections
Alliant Energy is projected to achieve a revenue growth of 4.36% this year and 6.33% next year. This growth is supported by an effective tax rate of 10% and strategic initiatives aimed at leveraging economic development.
Earnings Growth Expectations
Earnings per share (EPS) are expected to grow by 10.10% this year and 8.00% next year. The company has a strong track record of beating earnings estimates, having surpassed expectations in three of the last four quarters.
Strategic Energy Contracts
A notable contract to provide energy for one of Meta Platforms' AI data centers has sparked investor interest, highlighting Alliant Energy's role in the growing data center market. This strategic focus aligns with current trends in renewable energy and technology.
Positive Technical Indicators
LNT exhibits strong technical indicators, with all major moving averages rising and the stock trading above them. This suggests a solid uptrend and potential for a breakout, reinforcing investor confidence.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
LNT Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$71.69
52W Range Position
76%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$58.98
+21.5% from the low
52-Week High
$75.76
-5.4% from the high
1 Month
-1.32%
3 Month
+7.16%
YTD
+9.3%
1 Year
+16.0%
3Y CAGR
+9.4%
5Y CAGR
+4.8%
10Y CAGR
+7.0%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
LNT vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
21.0x
vs 19.5x median
+8% above peer median
Revenue Growth
+4.3%
vs +5.1% median
-16% below peer median
Net Margin
17.2%
vs 14.7% median
+17% above peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
LNT LNT Alliant Energy Corporation | $18.5B | 21.0x | +4.3% | 17.2% | Buy | +5.8% |
WEC WEC WEC Energy Group, Inc. | $36.7B | 20.2x | +5.5% | 16.2% | Hold | +8.9% |
EVR EVRG Evergy, Inc. | $19.1B | 19.5x | +3.4% | 14.7% | Hold | +7.6% |
OGE OGE OGE Energy Corp. | $9.8B | 19.5x | +5.1% | 14.0% | Hold | -1.1% |
NWE NWE Northwestern Energy Group Inc | $4.5B | 19.3x | +5.4% | 10.2% | Hold | -8.4% |
OTT OTTR Otter Tail Corporation | $3.7B | 15.9x | -0.5% | 21.3% | Hold | -7.8% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
LNT Dividend and Capital Return
LNT returns 2.8% total yield, led by a 2.82% dividend, raised 22 consecutive years.
Dividend WatchFCF Unknown
Total Shareholder Yield
2.8%
Dividend + buyback return per year
Buyback Yield
0.0%
Dividend Yield
2.82%
Payout Ratio
64.3%
How LNT Splits Its Return
Div 2.82%
Dividend 2.82%Buybacks 0.0%
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$2.02
Growth Streak
Consecutive years of dividend increases
22Y
3Y Div CAGR
5.9%
5Y Div CAGR
6.0%
Ex-Dividend Date
—
Payment Cadence
Quarterly
4 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$0
Estimated Shares Retired
0
Approx. Share Reduction
0.0%
Shares Outstanding
Current diluted share count from the screening snapshot
258M
| Year | Div / Share | YoY Grw | BB Yield | Total Yield |
|---|---|---|---|---|
| 2026 | $1.07 | — | — | — |
| 2025 | $2.03 | +5.7% | 0.0% | 3.1% |
| 2024 | $1.92 | +6.1% | 0.0% | 3.2% |
| 2023 | $1.81 | +5.8% | 0.0% | 3.5% |
| 2022 | $1.71 | +6.2% | 0.0% | 3.1% |
FAQ
7 questionsLNT Investor Questions
Common questions answered from live analyst data and company financials.
01Is Alliant Energy Corporation (LNT) stock a buy or sell in 2026?
Alliant Energy Corporation (LNT) is rated Buy by Wall Street analysts as of 2026. Of 23 analysts covering the stock, 12 rate it Buy or Strong Buy, 11 rate it Hold, and 0 rate it Sell or Strong Sell. The consensus 12-month price target is $76, implying +5.8% from the current price of $72. The bear case scenario is $44 and the bull case is $90.
02What is the LNT stock price target for 2026?
The Wall Street consensus price target for LNT is $76 based on 23 analyst estimates. The high-end target is $79 (+10.2% from today), and the low-end target is $73 (+1.8%). The base case model target is $78.
03Is Alliant Energy Corporation (LNT) stock overvalued in 2026?
LNT trades at 21.0x times forward earnings. The stock's valuation is broadly in line with the broader market. Based on current multiples versus the peer group, the relative model signals overvalued. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for Alliant Energy Corporation (LNT) stock in 2026?
The primary risks for LNT in 2026 are: (1) Higher Interest Rates — Rising interest rates can significantly increase the cost of debt financing for Alliant Energy's projects, potentially impacting profitability. (2) Debt Load — Alliant Energy has a notable debt load, with a net debt to EBITDA ratio of 6. (3) Project Delays or Cancellations — Delays or cancellations in data center projects could negatively affect the near-term growth outlook for Alliant Energy's rate base growth. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is Alliant Energy Corporation's revenue and earnings forecast?
Analyst consensus estimates LNT will report consensus revenue of $4.6B (+4.3% year-over-year) and EPS of $3.22 (+9.7% year-over-year) for the upcoming fiscal year. The following year, analysts project $4.9B in revenue.
06When does Alliant Energy Corporation (LNT) report its next earnings?
A confirmed upcoming earnings date for LNT is not yet available. Check the Earnings section above for the most recent quarterly report dates and forward estimates.
07How much free cash flow does Alliant Energy Corporation generate?
Alliant Energy Corporation (LNT) had a free cash outflow of $845M in free cash flow over the trailing twelve months — a free cash flow margin of 19.1%. LNT returns capital to shareholders through dividends (2.8% yield) and share repurchases ($0 TTM).