Alliant Energy Stock: Is Wall Street Bullish or Bearish?

Headquartered in Madison, Wisconsin, Alliant Energy Corporation (LNT) runs a utility holding company that delivers regulated electricity and natural gas services through Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL).

With a market cap of roughly $17.8 billion, Alliant Energy also runs energy infrastructure and logistics businesses that cover rail freight, freight brokerage, and renewable energy-related operations.

Even with that scale and diversification, LNT stock has delivered a fairly average performance compared with the broader market. The stock gained 8.4% over the past 52 weeks, while the S&P 500 Index ($SPX) delivered a much stronger 20.2% return during the same period. Even in 2026, LNT stock gained 8%, while the broader benchmark surged 13.2% year to date (YTD).

The picture looks a little better when investors compare Alliant Energy with other utilities because LNT stock has managed to leave its own sector in the dust. Over the past year, the State Street Utilities Select Sector SPDR ETF (XLU) climbed only 1.6%, while the sector ETF gained 2.7% YTD. 

The energy powerhouse lagged the broader market over the past year as higher operating expenses, depreciation charges, and financing costs put pressure on profitability. Yet the stock has managed to hold its own against utility peers because data center-led load growth and other expansion initiatives give investors clearer visibility into future demand. 

That puts Alliant Energy in a stronger position than rivals facing slower demand or weaker execution, especially as the company builds out the infrastructure needed to support its next leg of growth.

The company is backing that expansion strategy with a $13.4 billion four-year capital expenditure plan that calls for roughly 12% investment growth. The plan includes 3.4 gigawatts of contracted demand from data center customers, along with new gas, wind, and storage resources, while disciplined regulatory execution could help turn those investments into steady long-term earnings growth.

Wall Street expects that spending to show up in the numbers as well. For full-year FY2026, ending in December, analysts expect diluted EPS of $3.43, which represents 6.5% YOY growth. 

The company’s recent earnings record, however, has been mixed rather than a clean sweep. Alliant Energy surpassed Wall Street’s EPS estimates in one of the past four quarters, remained unchanged in one quarter, and missed estimates in the other two quarters.

Even then, analysts have kept a generally positive view of LNT stock, which currently carries an overall “Moderate Buy” rating. Among 14 analysts covering the name, seven assign a “Strong Buy” rating, one recommends a “Moderate Buy,” and six suggest investors “Hold” the stock.

Three months ago, seven analysts also rated LNT stock a “Strong Buy,” showing that the bullish sentiment has remained remarkably consistent even as the stock continued to navigate higher costs, financing pressures, and a competitive utility landscape.

On July 22, Wells Fargo analyst Shahriar Pourreza maintained a “Buy” rating on LNT stock with an $81 price target, pointing to the company’s regulated growth profile, stable earnings trajectory, and attractive valuation relative to peers as key reasons for staying positive.

BMO Capital took a similarly constructive stance on August 3, when analyst Edward DeArias reiterated an “Outperform” rating on LNT stock while trimming the price target to $78 from $80. The modest reduction reflected updated earnings and generation outlook assumptions, yet DeArias continued to view the stock as attractively valued within the regulated utility peer group.

Overall, analysts see room for additional upside. The average price target of $79.04 implies potential upside of 12.5%, while the Street-High target of $86 suggests the stock could climb 22.4% from its current levels.