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LNT · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Alliant Energy Corporation Common Stock (LNT) stock moving?
Alliant beat Q3 expectations on adjusted EPS ($1.52 vs $1.30) and sales ($1.285B vs $1.261B), and management set 2027 EPS guidance at $3.63-$3.73, slightly above the $3.68 consensus cited in the correction. The 2026 ongoing EPS outlook was narrowed to $3.41-$3.46, which is the top half of the original range rather than a raise. Growth is being driven by data centers: 3.4 GW of contracted demand, a projected ~60% rise in peak demand by 2031, and a $15.9B capex plan through 2030. The $5.1B DOE loan package and the Meta transmission start expected in Q1 2027 add support. Several brokers raised targets after the report, to $79 (BMO) and $82 (Wells Fargo and Jefferies). Price action fits the news: volume jumped to 5.8M shares on Oct 30 (about double the late-October average), and the stock rose from about $69 to a $75.12 intraday high on Nov 5. It has since eased to a $73.24 close on Nov 10, with volume falling to 1.8M. The stock now trades about 8-12% below the new targets. Risks include the heavy capex program, which implies future funding needs, and the dependence of the growth story on delivering data center contracts, with the 1 GW target still ahead.
News behind the analysis
- Alliant Energy Reports Third Quarter 2026 Financial Results and 2027 GuidanceQ3 GAAP EPS was $1.52 versus $1.09 a year earlier, and 2026 ongoing EPS guidance was narrowed to $3.41-$3.46. The company also set 2027 EPS guidance at $3.63-$3.73 and a 2027 dividend target of $2.25, and raised its four-year capex forecast 19% to $15.9B.
- Alliant Energy Q3 Adj. EPS $1.52 Beats $1.30 Estimate, Sales $1.285B Beat $1.261B EstimateThird-quarter adjusted EPS of $1.52 beat the $1.30 consensus, and sales of $1.285B beat the $1.261B estimate.
- CORRECTION: Alliant Energy Sees FY2027 Adj EPS $3.63-$3.73 vs $3.68 EstA correction clarifies that the $3.63-$3.73 range is the 2027 adjusted EPS outlook, compared with a $3.68 estimate.
- Alliant Energy Announces Expanded Investment Plan and Data Center GrowthCapex plan rose to $15.9B through 2030 on data center demand, and the company is targeting 1 GW of new contracts within six months. Its utilities have 3.4 GW of contracted data center demand.
- Alliant Energy Reports Meta Expects to Begin Transmission Service in Wisconsin in Q1 2027On the earnings call, Alliant said Meta is expected to start taking transmission service in Wisconsin in Q1 2027.
- Alliant Energy Secures $5.1 Billion Loan Package from U.S. Department of EnergyAlliant closed a $5.1B, 30-year loan package from the DOE's Office of Energy Dominance Financing to support energy projects and reduce customer costs.
- Wells Fargo Maintains Overweight on Alliant Energy, Raises Price Target to $82Wells Fargo kept its Overweight rating and raised its price target from $81 to $82.
- BMO Capital Adjusts Price Target on Alliant Energy to $79 From $76BMO Capital raised its price target on Alliant Energy from $76 to $79.
- Jefferies Adjusts Price Target on Alliant Energy to $82Jefferies raised its price target on Alliant Energy from $75 to $82.
About Alliant Energy Corporation Common Stock
Alliant Energy is a regulated utility holding company based in Madison, Wisconsin. It owns Interstate Power and Light (Iowa) and Wisconsin Power and Light, which together serve about 1.0 million electric customers and 435,000 natural gas customers. It stands out for its fast-growing data-center electricity demand in Iowa and Wisconsin and a large build-out of renewables and energy storage.
How it makes money
Most of its revenue comes from selling regulated electricity, with a smaller share from natural gas delivery. State regulators set the rates it can charge, and those rates are designed to let it earn a return on its 'rate base', meaning the power plants, grid and pipes it has invested in. Profit growth therefore depends mainly on putting more capital to work, under a plan of about $15.9 billion through 2030. It also earns a little from non-utility businesses and venture investments, and uses renewable-energy tax credits.
What usually moves LNT
- Iowa and Wisconsin rate-case decisions
- Data-center load contracts and capital spending plans
- Interest rates and the cost of debt and new shares
- Renewable-energy tax credit policy
- Weather-driven electricity and gas demand