Madison, Wisconsin-based Alliant Energy Corporation (LNT) operates as a utility holding company that provides regulated electricity and natural gas services. Valued at $18.5 billion by market cap, the company supplies electricity, natural gas, and water to residential and commercial customers.
Companies worth $10 billion or more are generally described as “large-cap stocks.” LNT effortlessly fits that bill, with its market cap exceeding this mark, underscoring its size, influence, and dominance within the utilities - regulated electric industry. LNT’s focus on clean energy investments positions it for future growth, aligning with sustainable energy trends and enhancing service capabilities.
Despite its notable strength, LNT slipped 2.8% from its 52-week high of $73.41, achieved on Mar. 16. Over the past three months, LNT stock has gained 10.4%, outperforming the State Street Utilities Select Sector SPDR ETF’s (XLU) 9.2% gains during the same time frame.
Shares of LNT rose 11.1% on a six-month basis, outperforming XLU’s six-month gains of 9.6%. However, in the longer term, the stock climbed 12.3% over the past 52 weeks, underperforming XLU’s 17.9% returns over the last year.
To confirm the bullish trend, LNT has been trading above its 50-day moving average since mid-January, with slight fluctuations. The stock has been trading above its 200-day moving average over the past year, experiencing slight fluctuations.
On Feb. 19, LNT shares closed up marginally after reporting its Q4 results. Its adjusted EPS of $0.60 beat Wall Street expectations of $0.58. The company’s revenue stood at $1.1 billion, up 9% year over year. LNT expects full-year adjusted EPS in the range of $3.36 to $3.46.
LNT’s rival, Ameren Corporation (AEE) has lagged behind the stock, with 10.5% gains on a six-month basis and 9.5% uptick over the past 52 weeks.
Wall Street analysts are reasonably bullish on LNT’s prospects. The stock has a consensus “Moderate Buy” rating from the 13 analysts covering it, and the mean price target of $75.36 suggests a potential upside of 5.7% from current price levels.
On the date of publication, Neha Panjwani 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.
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