Alliant Energy Corporation (LNT), headquartered in Madison, Wisconsin, is a prominent energy company providing regulated electric and natural gas services to customers across the Midwest, with a market cap of $15.9 billion. Alliant Energy is scheduled to release its Q3 earnings report after the market closes on Thursday, Oct. 31.

Ahead of the event, analysts expect LNT to report a profit of $1.09 per share, up 3.8% from $1.05 in the year-ago quarter. The company missed Wall Street's earnings estimates in three of the last four quarters while beating on another occasion. Its adjusted earnings of $0.57 per share for the last quarter missed the consensus estimate by 19.7%.

For fiscal 2024, analysts expect LNT to report EPS of $3.05, up 8.2% from $2.82 in fiscal 2023. 

LNT stock is up 19.6% on a YTD basis, underperforming the broader S&P 500 Index's ($SPX) 22.7% gains and the Utilities Select Sector SPDR Fund's (XLU) 28.9% gain over the same time frame.

LNT stock edged up just 1% after reporting its mixed Q2 earnings results on Aug.1. The company posted revenue of $894 million, marking a slight dip of 1.9% year over year. This decline coincided with a surge in total operating expenses, which hit $764 million due to rising electric transmission service costs and increased depreciation and amortization. Consequently, operating income fell 40% annually to $130 million.

On a brighter note, LNT’s cash and cash equivalents climbed to $92 million as of June 30, up from $62 million at the end of 2023. Cash flow from operating activities also showcased strength, totaling $562 million in the first half of 2024 compared to $311 million in the same period last year. However, long-term debt (excluding the current portion) rose to $8.9 billion, up from $8.2 billion at the close of 2023.

The consensus opinion on LNT stock is moderately optimistic, with an overall “Moderate Buy” rating. Of 12 analysts covering the stock, five advise a “Strong Buy” rating, and seven indicate a “Hold.”

LNT’s average analyst price target is $62.55, suggesting a potential upside of 1.9% from the current levels.

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On the date of publication, Rashmi Kumari 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.