Alliant Energy Corporation (LNT)

Alliant Energy is the parent of two regulated utilities, Interstate Power and Light and Wisconsin Power and Light. Together, IPL and WPL serve nearly 1 million electric customers and 425,000 natural gas-only customers. Both subsidiaries engage in the generation and distribution of electricity and the distribution and transportation of natural gas. Alliant also owns a 16% interest in American Transmission.

Alliant Energy Corp is an electric and natural gas utility with retail and wholesale electric distribution and retail gas operations. Electric-generating capacity is about 8 GW. The company has two primary regulated utility subsidiaries - IPL and WPL - that together account for about 95% of earnings. These subsidiaries provide utility services to about 1 million electricity customers and approximately 435,000 natural gas customers. Alliant Energy Finance is the parent company for nonregulated operations. The company still has coal operations, and its latest reported generation mix is 43% renewables (largely wind power), 37% natural gas, and 19% coal. LNT wants to phase out all coal generation as part of a plan to reach net-zero emissions by 2040. Regulators in Wisconsin and Iowa have been supportive of Alliant's efforts to invest in upgrades that will reduce carbon emissions. The company had planned to close its coal plant in Columbia County - its last remaining plant in Wisconsin - by the end of 2024. The closing date has been pushed out potentially to 2029 as Alliant evaluates converting at least one of the power plant's units to natural gas. Annual revenues in 2025 were $4.36 billion, with 85% from electric utility operations. The company's two utilities each accounted for about 50% of adjusted earnings. The company's current market cap is about $16.8 billion.

The road to 8,000 for the S&P 500 (SPX) took a nasty detour on Wednesday as Treasury bond yields surged. Remember, it's not so much the level of yields that can spook stock investors -- but the velocity of the increase. The yield spike was blamed on a hotter-than-expected S&P Global flash composite PMI report that was the strongest since July 2021. The move in yields from a data point that typically gets little attention was astounding. The 10-year spiked 15 basis points (bps) to 5.1% and the five-year ripped 16 bps to 5%. Both the 10- and the five-year hit their highest levels since mid-2007. The two-year popped 12 bps to 4.9%, its highest level since mid-2024. The U.S. Dollar Index (USD $101) rose 0.6% and has rallied 2.2% over the past 10 days. That is the third-largest 10-day move since the start of 2025. The USD is fast approaching the top of its 1.5-year range at $102. Metals and crypto do not like a higher currency, with GLD down 2%, SLV down 4%, Bitcoin down 2%, and Ethereum down 3%. The SPX almost retraced to a cluster of short-term moving averages in the high 7,600s intraday, while the Nasdaq 100 gave up Tuesday's gain. It's never wise to extrapolate one day's action, and the spike in yields seems panicky. But another day or two of this and stocks most likely tank. To make matters more confusing, it was software's turn to rally as the rotation in Information Technology from day to day is dizzying. Breadth was poor yet again at -1,610, the second-worst day in 2026, while NYSE up volume/down volume was anemic at 20%, the third-poorest day this year. Energy was the only sector to rise, while Utilities, Real Estate, and Consumer Discretionary sold off.

Alliant Energy is the parent of two regulated utilities, Interstate Power and Light and Wisconsin Power and Light. Together, IPL and WPL serve nearly 1 million electric customers and 425,000 natural gas-only customers. Both subsidiaries engage in the generation and distribution of electricity and the distribution and transportation of natural gas. Alliant also owns a 16% interest in American Transmission.