Analyst Note| Andrew Bischof, CFA, CPA |
We are maintaining our $54 fair value estimate for Alliant Energy after the company reported first-quarter earnings per share of $0.77, up from $0.68 in the year-ago period. Management reaffirmed 2022 EPS guidance of $2.67-$2.81, consistent with our expectations. The company's 5%-7% long-term earnings growth target is unchanged. We continue to expect Alliant to achieve the midpoint of this range. Our narrow moat and stable moat trend ratings are unchanged.