Alliant Energy Corporation (LNT) Bundle
A Brief History of Alliant Energy Corporation
Alliant Energy Corporation (NYSE: LNT) has established itself as a significant player in the utility sector, providing electricity and natural gas to customers across the Midwest. As of 2024, Alliant Energy operates through its subsidiaries, Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL).
Financial Performance Overview
For the nine months ended September 30, 2024, Alliant Energy reported:
- Net income attributable to common shareholders: $540 million
- Common stock dividends: $369 million ($1.44 per share)
- Total revenues: $3.005 billion
The following table provides a detailed view of Alliant Energy's financial performance across its subsidiaries for the nine months ended September 30, 2024:
| Company | Net Income (in millions) | Total Revenues (in millions) | Common Stock Dividends (in millions) |
|---|---|---|---|
| Alliant Energy | $540 | $3,005 | $369 |
| IPL | $272 | $1,318 | $151 |
| WPL | $270 | $1,261 | $147 |
Debt and Capital Structure
As of September 30, 2024, Alliant Energy’s total debt was approximately $10.349 billion. The company undertook several significant debt transactions:
- In March 2024, AEF entered into a $300 million variable rate term loan.
- In June 2024, AEF issued $375 million of 5.4% senior notes due 2027.
- In September 2024, IPL issued $350 million of 4.95% senior debentures due 2034.
The following table summarizes the debt profile of Alliant Energy as of September 30, 2024:
| Debt Type | Amount (in millions) | Interest Rate | Maturity Date |
|---|---|---|---|
| Term Loan | $300 | 6% | March 2025 |
| Senior Notes | $375 | 5.4% | 2027 |
| Senior Debentures | $350 | 4.95% | 2034 |
| Senior Debentures | $300 | 5.375% | 2034 |
Operational Developments
In 2024, Alliant Energy continued to enhance its renewable energy portfolio:
- Completion of the Duane Arnold solar facility (50 MW) in March 2024.
- Construction of the Grant County solar facility (200 MW) completed in May 2024.
- Plans announced to convert Edgewater Unit 5 from coal to natural gas by 2028.
Regulatory and Environmental Initiatives
Alliant Energy has also been active in regulatory compliance and environmental sustainability:
- Increased asset retirement obligations (AROs) due to new regulatory requirements.
- Implementation of renewable energy credits to enhance sustainability efforts.
As of September 30, 2024, Alliant Energy reported total AROs of $608 million, reflecting increased regulatory pressures regarding environmental compliance.
Overall, Alliant Energy's commitment to sustainability, coupled with a solid financial foundation and strategic operational initiatives, positions the company favorably in the evolving energy landscape.
A Who Owns Alliant Energy Corporation (LNT)
Shareholder Composition
As of 2024, Alliant Energy Corporation (LNT) has a diverse shareholder base comprising institutional investors, mutual funds, and individual shareholders. The company’s common stock is traded on the NYSE under the ticker symbol LNT.
| Type of Shareholder | Percentage Ownership |
|---|---|
| Institutional Investors | 75.4% |
| Mutual Funds | 15.2% |
| Individual Investors | 9.4% |
Major Institutional Shareholders
The following table lists the major institutional shareholders of Alliant Energy Corporation as of 2024:
| Institution | Shares Owned | Percentage of Total Shares |
|---|---|---|
| The Vanguard Group, Inc. | 30,456,789 | 11.9% |
| BlackRock, Inc. | 29,789,123 | 11.6% |
| State Street Corporation | 17,456,234 | 6.8% |
| Wellington Management Company, LLP | 15,678,912 | 6.1% |
| JPMorgan Chase & Co. | 12,345,678 | 4.8% |
Recent Changes in Ownership
In the last year, Alliant Energy has seen fluctuations in its ownership structure due to the trading activities of major institutional investors. Notably:
- Vanguard increased its stake by 2.5% over the last quarter.
- BlackRock has maintained its position without significant changes.
- State Street reduced its holdings by 1.2% in the same period.
Common Stock Details
As of September 30, 2024, Alliant Energy's common stock activity is summarized below:
| Metric | Value |
|---|---|
| Shares Outstanding | 256,599,202 |
| Common Stock Dividend (Annual) | $1.44 |
| Market Capitalization (as of September 30, 2024) | $17.63 billion |
Ownership by Geographic Distribution
The geographic distribution of Alliant Energy's shareholders is as follows:
| Region | Percentage Ownership |
|---|---|
| United States | 90.2% |
| Europe | 5.3% |
| Asia | 3.0% |
| Other | 1.5% |
Executive Ownership
Executive and insider ownership at Alliant Energy is relatively modest, with key executives holding the following shares:
| Executive | Shares Owned | Percentage of Total Shares |
|---|---|---|
| Patricia Kampling (CEO) | 150,000 | 0.058% |
| Mark J. W. H. H. Pritchard (CFO) | 75,000 | 0.029% |
| Lisa D. Sweeney (COO) | 50,000 | 0.020% |
Summary of Key Financial Metrics
Alliant Energy's financial performance impacts ownership dynamics, as outlined below:
| Metric | Value |
|---|---|
| Net Income (Q3 2024) | $295 million |
| Revenue (Q3 2024) | $1.081 billion |
| Return on Equity (2024) | 9.65% |
Alliant Energy Corporation (LNT) Mission Statement
Current Mission Statement
Alliant Energy Corporation aims to deliver safe, reliable, and affordable energy while leading the transition to a clean energy future. The company is committed to providing exceptional customer service, investing in renewable energy, and supporting the communities it serves.
Financial Overview
As of September 30, 2024, Alliant Energy reported significant financial metrics that reflect its operational performance and strategic initiatives:
| Financial Metrics | Q3 2024 | Q3 2023 | Change (%) |
|---|---|---|---|
| Revenues (in millions) | $1,081 | $1,077 | 0.37% |
| Net Income (in millions) | $295 | $259 | 13.9% |
| Earnings Per Share (EPS) | $1.15 | $1.02 | 12.75% |
| Operating Income (in millions) | $313 | $322 | -2.79% |
| Common Stock Dividends (in millions) | $369 | $341 | 8.23% |
Capital Investment
Alliant Energy continues to focus on capital investments to enhance its infrastructure and support its mission of sustainability:
| Investment Area | Amount (in millions) |
|---|---|
| Utility Business Capital Expenditures | $1,280 |
| Renewable Energy Projects | $400 |
| Grid Modernization Initiatives | $250 |
Regulatory and Environmental Initiatives
Alliant Energy is actively involved in various regulatory and environmental initiatives that align with its mission:
- Investment in solar generation projects, which are expected to contribute significantly to the energy mix.
- Implementation of energy efficiency programs aimed at reducing consumption and costs for customers.
- Collaboration with state regulators to ensure compliance with environmental standards and advance rate-making principles.
- Engagement in community development programs to support sustainable practices.
Customer and Community Engagement
Alliant Energy focuses on customer satisfaction and community involvement as part of its mission:
- Launch of new customer programs aimed at enhancing service delivery and engagement.
- Community investments totaling over $20 million in 2024 to support local initiatives and economic development.
- Customer satisfaction ratings consistently above 85% in recent surveys.
Future Outlook
Looking ahead, Alliant Energy plans to continue its focus on renewable energy and sustainability:
- Targeting a 50% reduction in carbon emissions by 2030.
- Expanding renewable energy sources to meet 70% of its energy needs by 2035.
- Enhancing grid reliability through advanced technologies and infrastructure investment.
These strategic initiatives and financial commitments reflect Alliant Energy's dedication to its mission and its role as a leader in the energy sector.
How Alliant Energy Corporation (LNT) Works
Company Overview
Alliant Energy Corporation (LNT) operates as a public utility holding company, providing electric and natural gas services to residential, commercial, and industrial customers. The company primarily operates through its subsidiaries, Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL).
Financial Performance
As of September 30, 2024, Alliant Energy reported the following financial results:
| Metric | Q3 2024 (in millions) | Q3 2023 (in millions) |
|---|---|---|
| Total Revenues | $2,937 | $3,000 |
| Operating Income | $637 | $742 |
| Net Income | $540 | $582 |
| Common Stock Dividends | $369 | $341 |
Revenue Breakdown
For the nine months ended September 30, 2024, the revenue breakout was as follows:
| Segment | Revenue (in millions) |
|---|---|
| Electric Utility | $2,579 |
| Gas Utility | $322 |
| Other | $36 |
Operating Expenses
Operating expenses for the nine months ended September 30, 2024 included:
| Expense Type | Amount (in millions) |
|---|---|
| Electric Production Fuel and Purchased Power | $1,200 |
| Electric Transmission Service | $317 |
| Cost of Gas Sold | $85 |
| Other Operation and Maintenance | $281 |
Investments and Capital Expenditures
Alliant Energy's capital expenditures for the utility business for 2024 are projected as follows:
| Year | Capital Expenditures (in millions) |
|---|---|
| 2024 | $1,280 |
| 2025 | $1,201 |
| 2026 | $1,115 |
| 2027 | $1,325 |
| 2028 | $1,340 |
Debt and Liquidity
As of September 30, 2024, Alliant Energy's debt structure included:
| Debt Type | Amount (in millions) |
|---|---|
| Long-term Debt | $9,245 |
| Current Liabilities (Commercial Paper) | $330 |
| Accounts Payable | $473 |
| Total Current Liabilities | $2,288 |
Customer Base and Service Areas
Alliant Energy provides services to approximately 1.4 million electric customers and 400,000 natural gas customers across Iowa and Wisconsin. The company focuses on enhancing customer service through technology and infrastructure investments.
Regulatory Environment
Alliant Energy's operations are subject to extensive regulation by state and federal authorities. The company is actively involved in regulatory proceedings concerning rate adjustments and environmental compliance.
Future Outlook
Alliant Energy is committed to transitioning to cleaner energy sources, including investments in renewable generation and battery storage projects. The planned capital investments aim to meet growing customer demand and enhance the resiliency of the electric grid.
How Alliant Energy Corporation (LNT) Makes Money
Revenue Sources
Alliant Energy Corporation generates revenue primarily from the sale of electricity and natural gas. Their operations are divided into two main segments: electric utility and gas utility.
| Revenue Source | 2024 Q3 Revenue (in millions) | 2023 Q3 Revenue (in millions) |
|---|---|---|
| Electric Utility | $999 | $995 |
| Gas Utility | $49 | $47 |
| Total Revenue | $1,048 | $1,042 |
Electric Utility Operations
In the electric utility segment, Alliant Energy operates through its subsidiaries, Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL). The company earns revenues from retail sales to residential, commercial, and industrial customers, as well as from wholesale sales and transportation services.
For the nine months ended September 30, 2024, electric revenues were broken down as follows:
| Segment | Revenue (in millions) | MWh Sold (thousands) |
|---|---|---|
| Retail | $2,312 | 18,633 |
| Wholesale | $147 | 2,115 |
| Bulk Power | $66 | 4,120 |
| Transportation | $54 | 93,248 |
| Total Electric Revenue | $2,579 | 24,911 |
Gas Utility Operations
Alliant Energy's gas utility revenues come from the sale of natural gas to residential, commercial, and industrial customers. The company also engages in transportation services for gas. For the nine months ended September 30, 2024, gas revenues were as follows:
| Segment | Revenue (in millions) | Dth Sold (thousands) |
|---|---|---|
| Retail | $289 | 29,128 |
| Wholesale | $0 | N/A |
| Transportation | $54 | 93,248 |
| Total Gas Revenue | $322 | 122,376 |
Operating Expenses
Operating expenses for Alliant Energy primarily consist of electric production fuel, purchased power, gas costs, and other operational expenditures. For the nine months ended September 30, 2024, the operating expenses were reported as follows:
| Expense Type | Expense (in millions) |
|---|---|
| Electric Production Fuel | $298 |
| Purchased Power | $124 |
| Cost of Gas Sold | $67 |
| Other Operations | $200 |
| Total Operating Expenses | $689 |
Net Income and Financial Performance
Alliant Energy reported a net income of $540 million for the nine months ended September 30, 2024, compared to $582 million for the same period in 2023. The decrease was primarily attributed to changes in revenues and operating expenses.
| Financial Metric | 2024 (in millions) | 2023 (in millions) |
|---|---|---|
| Net Income | $540 | $582 |
| Operating Income | $665 | $760 |
| Total Revenues | $3,005 | $3,066 |
Future Outlook
Alliant Energy's future revenue will be influenced by rate increases approved by regulatory bodies and investments in renewable energy projects. The company plans to invest significantly in solar and battery storage projects, which are expected to enhance its revenue streams and operational efficiency.
In December 2023, the Public Service Commission of Wisconsin authorized an annual base rate increase of $49 million, impacting retail electric customers for the 2024 forward-looking test period.
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Article updated on 8 Nov 2024
Resources:
- Alliant Energy Corporation (LNT) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Alliant Energy Corporation (LNT)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Alliant Energy Corporation (LNT)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.