Alliant Energy Corp Stock Price, News & Analysis

Alliant Energy Corporation (NASDAQ: LNT) will release its second quarter 2020 earnings on August 6, 2020, after market close. A conference call to discuss the results is set for August 7 at 9:00 a.m. CT, accessible via dial-in or webcast. The company serves nearly 970,000 electric and 420,000 gas customers across the Midwest and aims to deliver reliable energy solutions. Alliant Energy, a member of the S&P 500, operates through its subsidiaries, Interstate Power and Light Company and Wisconsin Power and Light Company.

The Alliant Energy Corporation (NASDAQ: LNT) announced a quarterly cash dividend of $0.38 per share, payable on August 17, 2020, to shareholders on record by July 31, 2020. This continues the company’s impressive history of paying dividends for 299 consecutive quarters since 1946. Headquartered in Madison, Wisconsin, Alliant Energy provides regulated electric and natural gas services to approximately 970,000 and 420,000 customers in Iowa and Wisconsin, respectively.

Alliant Energy's subsidiary, Interstate Power and Light Company (LNT), announced a public offering of $400 million in 2.300% senior debentures due June 1, 2030. The funds will be utilized to retire $200 million in 3.65% senior debentures maturing on September 1, 2020, and for general corporate purposes. The offering is scheduled for closing on June 2, 2020, subject to closing conditions. The offering is managed by Goldman Sachs & Co. LLC and others and will be made via a prospectus supplement filed with the SEC.

Alliant Energy (NASDAQ: LNT) plans to acquire 675 megawatts (MW) of solar energy projects across six Wisconsin counties, including Grant and Sheboygan. These projects, part of their Clean Energy Blueprint, will power approximately 175,000 homes and create over 1,200 local construction jobs. Expected local tax revenues from these projects could reach $80 million over 30 years. The company will file for regulatory approval and anticipates a decision by mid-2021, aiming to reduce carbon emissions by 40% and avoid over $2 billion in costs for customers.

Alliant Energy has launched the West Riverside Energy Center, a 730-megawatt combined-cycle natural gas plant in Wisconsin, serving over 550,000 homes. The project created over 1,000 jobs and cost $660 million, coming in under budget. This facility enhances the reliability of energy supply, complementing renewable sources. Annual local utility revenues are projected to increase by $3 million. Additionally, a 6-megawatt DC solar facility is planned, set to improve sustainability and efficiency further.

The Board of Directors of Alliant Energy has declared a dividend of $0.31875 per share for its 5.1% Series D Cumulative Preferred Stock (NASDAQ: IPLDP). This dividend is payable on June 15, 2020 to shareholders of record on May 29, 2020. Alliant Energy, operating as LNT, provides regulated electric and natural gas service to approximately 970,000 electric and 420,000 natural gas customers in Iowa and Wisconsin. The company aims to deliver reliable energy solutions and is part of the S&P 500.

Alliant Energy Corporation (NASDAQ: LNT) reported strong first-quarter 2020 earnings, with GAAP EPS at $0.70, up from $0.53 in 2019. The increase was driven by higher earnings from its Utilities and Corporate Services, which generated $0.72 per share, reflecting a $0.20 rise year-over-year. However, Non-utility and Parent operations saw a decline, recording a GAAP EPS of ($0.05), impacted by a credit loss charge related to Whiting Petroleum. The company maintains its 2020 earnings guidance of $2.34 to $2.48 per share despite challenges posed by the COVID-19 pandemic.