# Alliant Energy Corporation (LNT)

> Source: Nexqual · https://nexqual.com/LNT · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Alliant Energy Corporation (LNT), nexqual.com/LNT" · informational, not investment advice.

**Price:** USD 70.3 (+2.79% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 68.39 · day 68.51–70.46 · 52w 62.54–78.81 · market cap $18.2B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $4.43B, net income $817M (18.4% margin) (SEC filings).
- Valuation: P/E 22.3x (avg 20.4x at the last 3 fiscal year-ends).
- Earnings quality: non-operating income -$334M vs operating income $980M over the last four quarters; P/E excluding non-operating income ≈15.8x (estimate: non-operating income taxed at the company's 0% effective rate).
- 1 of 80 tracked superinvestors hold LNT (13F, Q2 2026): 0 new, 0 added, 1 reduced, 0 unchanged.
- Analysts: Buy (mean 2.29 on a 1–5 scale) (14 analysts), mean target USD 75.12 (range 66–83).
- Total return with dividends: 1Y +5.7% vs S&P 500 +14.9%; 5Y +44.2% vs S&P 500 +80.3%.
- Next earnings: 2026-10-29, EPS estimate USD 1.31, revenue estimate $1.32B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $3.67B | $4.21B | $4.03B | $3.98B | $4.36B | $4.43B |
| Gross profit | $3.13B | $3.63B | $3.44B | $3.37B | $3.74B | — |
| Operating income | $795M | $928M | $943M | $886M | $1.02B | $980M |
| Net income | $674M | $686M | $703M | $690M | $810M | $817M |
| EPS (diluted) | $2.63 | $2.73 | $2.78 | $2.69 | $3.14 | — |
| Free cash flow | -$587M | -$998M | — | — | — | — |
| Gross margin | 85.4% | 86.4% | 85.5% | 84.6% | 85.7% | — |
| Operating margin | 21.7% | 22.1% | 23.4% | 22.3% | 23.5% | 22.1% |
| Net margin | 18.4% | 16.3% | 17.5% | 17.3% | 18.6% | 18.4% |
| Revenue growth | +7.4% | +14.6% | -4.2% | -1.1% | +9.6% | — |
| Cash + short-term investments | $39.0M | $20.0M | $62.0M | $81.0M | — | — |
| Total debt | $7.37B | $8.08B | $9.03B | $9.85B | $12.0B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 22.3x · P/E ex non-operating (est.) ≈15.8x · P/S 4.1x · P/B 2.4x · Earnings yield 4.48% · Dividend yield (paid, TTM) 2.93%
P/E at fiscal year-ends: Dec 2025 20.7x, Dec 2024 22.0x, Dec 2023 18.5x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold LNT. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Mairs & Power | Mairs & Power Funds | 1.86% | $203M | Reduced -8.0% |

## Analysts
Consensus Buy (mean 2.29 on a 1–5 scale), 14 analysts; mean target USD 75.12 (low 66, high 83).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-22 | HSBC | Initiated | Hold | $69.5 |
| 2026-10-13 | Barclays | Target lowered | Equal-Weight | $73 → $68 |
| 2026-08-03 | BMO Capital | Target lowered | Outperform | $80 → $78 |
| 2026-08-03 | Mizuho | Target lowered | Neutral | $76 → $75 |
| 2026-07-22 | BMO Capital | Target lowered | Outperform | $83 → $80 |
| 2026-07-15 | BMO Capital | Target raised | Outperform | $81 → $83 |
| 2026-07-08 | TD Cowen | Initiated | Hold |  |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +5.7% | +44.2% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +5.7% | +7.6% |
| Volatility (annualized) | 17.1% | 19.3% |
| Max drawdown | -18.4% (Jul 2026→Sep 2026) | -23.6% (Aug 2022→Oct 2022) |

## Peers (Utilities - Regulated Electric)
EVRG (Evergy, Inc.) USD 84.95 +2.16% · EMA (Emera Incorporated) USD 49.36 +4.20% · CMS (CMS Energy Corporation) USD 70.3 +3.19% · EIX (Edison International) USD 57.9 +1.24% · KEP (Korea Electric Power Corporatio) USD 10.72 -0.09% · ES (Eversource Energy (D/B/A)) USD 67.84 +3.41%

## More
Full page: https://nexqual.com/LNT · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $1.31 | $1.22 | +7.1% | $1.32B | 8 |
| Next quarter (ends 2026-12-31) | $0.64 | $0.79 | -18.7% | $1.10B | 1 |
| Current fiscal year (ends 2026-12-31) | $3.43 | $3.42 | +0.4% | $4.55B | 10 |
| Next fiscal year (ends 2027-12-31) | $3.68 | $3.69 | -0.2% | $4.82B | 14 |