Alliant Energy Corp
- Industry
- Electric Utilities
- Exchange
- US
- Country
- USA
- IPO date
- Jan 5, 1988
- Employees
- 2,948
- Website
- www.alliantenergy.com
Composite valuation range · conservative $52–$60 / fair $61–$70 / optimistic $71–$80. At $73.93, Within the optimistic intrinsic-value range · much expectation priced in.
At publication $71.61 (May 30, 2026)
Data from EODHD, shown in the reporting currency; for reference only, not investment advice.
Alliant Energy Corporation operates as a utility holding company that provides regulated electric and natural gas services in the United States. It operates through IPL and WPL segments. The company's IPL segment engages primarily in the generation and distribution of electricity and the distribution and transportation of natural gas to retail customers in select markets in Iowa. This segment also sells electricity to wholesale customers in Minnesota, Illinois and Iowa; and generates and distributes steam for two customers in Cedar Rapids, Iowa. Its WPL segment generates and distributes electricity, and distributes and transports natural gas to retail customers in select markets in Wisconsin; and sells electricity to wholesale customers in Wisconsin. It serves retail customers in the farming, agriculture, industrial manufacturing, chemical, packaging, and food industries, as well as wholesale customers comprising municipalities and rural electric cooperatives. In addition, the company owns and operates a short-line rail freight service in Iowa; a Mississippi River barge, rail, and truck freight terminal in Illinois; freight brokerage services; wind turbine blade recycling services; and a rail-served warehouse in Iowa. Further, it holds interests in a natural gas-fired electric generating unit near Sheboygan Falls, Wisconsin; and a wind farm located in Oklahoma. The company was formerly known as Interstate Energy Corp. and changed its name to Alliant Energy Corporation in May 1999. Alliant Energy Corporation is headquartered in Madison, Wisconsin.
History
Alliant Energy Corporation is a utility holding company headquartered in Madison, Wisconsin. It was formerly known as Interstate Energy Corp. and changed its name to Alliant Energy Corporation in May 1999, with an IPO dated January 5, 1988. The company operates through two wholly owned regulated subsidiaries, Interstate Power and Light (IPL) and Wisconsin Power and Light (WPL), and as of recent reporting employs about 2,948 people. Over 2021-2025 the business grew steadily: revenue rose from $3,669 million to $4,362 million, net income attributable to common shareholders from $659 million to $810 million, and year-end total assets from $18,553 million to $24,991 million, while diluted shares outstanding edged up from 250.7 million to 257.8 million. The company has raised its dividend for 22 consecutive years and established an independent board chair in 2025. Reflecting a shift toward large-load growth, IPL signed an electricity service agreement with a customer in April 2026 carrying a contracted peak demand of roughly 370 MW.
Industry position
Alliant Energy is a regulated electric and natural gas utility serving select markets in Iowa and Wisconsin through its IPL and WPL segments. The IPL segment generates and distributes electricity and distributes and transports natural gas to retail customers in Iowa, sells electricity to wholesale customers in Minnesota, Illinois and Iowa, and generates and distributes steam for two customers in Cedar Rapids, Iowa; the WPL segment generates and distributes electricity and distributes and transports natural gas to retail customers in Wisconsin and sells electricity to wholesale customers there. As of year-end 2025 the company served about 1,012,286 electric customers and 433,344 natural gas customers, with 2025 total revenue of $4,362 million split into $3,697 million electric utility, $525 million gas utility and $89 million non-utility revenue. Its competitive position rests on regulatory franchises, defined service territories, transmission and distribution network assets, and high customer switching costs rather than on brand; rates are set by regulators on the basis of prudent cost recovery and an allowed return on invested capital. Comparable regulated utilities cited include CMS, WEC, EVRG, XEL and AEE. The company also runs smaller non-utility operations, including a short-line rail freight service in Iowa, a Mississippi River barge, rail and truck freight terminal in Illinois, freight brokerage services, wind turbine blade recycling, and a rail-served warehouse in Iowa, and it holds interests in a natural gas-fired generating unit near Sheboygan Falls, Wisconsin and a wind farm in Oklahoma.