Alliant Energy Corp

Alliant Energy is planning nearly $3 billion of infrastructure investment in 2026 and $13.4 billion through 2029, an approximately 12% compound annual growth rate in investment across generation, transmission and distribution. The company said the spending, including allowances for funds used during construction, is expected to support 5-7% earnings growth through 2029. Alliant has secured 3.4 gigawatts of contracted large-customer demand, which it expects to support nearly 60% growth in projected electricity demand by 2031, and it signed a 370-megawatt Iowa electric service agreement, with additional opportunities of 2-4 gigawatts progressing. The company recently received final permits to proceed with construction of the 720-megawatt Bobcat Energy Center in Marshalltown, Iowa, a natural gas-fired facility intended to add flexible generation capacity. For comparison, PPL Corporation plans to invest about $23 billion through 2029 to support approximately 10.3% average annual rate-base growth, while FirstEnergy plans $36 billion of capital investments through 2030 under its Energize365 program.

Alliant Energy reported continued customer growth in the second quarter of 2026, with electric customers rising 0.69% to 1,011,128 and natural gas customers up 0.47% to 432,892. The company expects 60% load growth by 2031 and plans nearly $13.4 billion in capital investments through 2029. Alliant Energy projects 2026 ongoing earnings per share of $3.36 to $3.46 and long-term EPS growth of 5% to 7% through 2029. The Zacks Consensus Estimate for 2026 and 2027 EPS indicates year-over-year increases of 6.52% and 7.21%, respectively.

Alliant Energy Corp announced a quarterly cash dividend of $0.54 per share, with an ex-dividend date of July 31, 2026, and a payment date of August 17, 2026. The company has maintained a consistent dividend payment record since 1988 and has increased its dividend each year since 2003, earning status as a dividend achiever. As of today, the stock carries a 12-month trailing dividend yield of 2.95% and a forward yield of 3.02%, with a five-year annual dividend growth rate of 6.00%. The dividend payout ratio stands at 0.68, and GuruFocus ranks the company's profitability 7 out of 10, indicating good prospects for sustaining the payout despite modest revenue and earnings growth rates.

Alliant Energy declared a quarterly dividend of $0.535 per share, in line with the previous payout. The dividend carries a forward yield of 2.83% and is payable on August 17 to shareholders of record as of July 31, with the ex-dividend date also set for July 31.

Utilities are securing multi-year electricity supply agreements with data center operators as AI infrastructure buildout accelerates power demand. Alliant Energy disclosed five fully executed data center agreements totaling approximately 3.4 gigawatts, including a new 370-megawatt electric service agreement with a ramp targeted by the end of 2030. PowerBank Corporation signed a modular data center joint development agreement with Nodiac.ai, pairing solar and battery storage systems with a co-location model to bypass grid interconnection timelines. Both regulated utilities and independent power producers, spanning fuel cells, nuclear, natural gas, and renewables, are positioning to serve this load growth, with thematic ETFs such as the Defiance AI & Power Infrastructure ETF and the Global X Data Center & Digital Infrastructure ETF offering exposure.

Alliant Energy has secured a new 370-megawatt electric service agreement in Iowa, bringing its total contracted data center load to approximately 3.4 gigawatts and enhancing revenue visibility. The company plans to invest $13.4 billion during 2026-2029 to support 12% rate-based growth, with roughly 72% of capital spending directed toward clean energy generation and storage projects. Alliant Energy's shares have rallied 12.2% over the past six months, outperforming the industry's 7.3% growth. The stock currently carries a Zacks Rank #3 (Hold).