Updating your Income stocks: Alliant Energy, Ameren, J.P. Morgan Chase & Co.

Article Excerpt

ALLIANT ENERGY CORP. $58 (www.alliantenergy.com) is a buy. The company sells power and natural gas to 1.425 million clients in Wisconsin and Iowa. In the second quarter of 2024, Alliant’s revenue fell 2.0%, to $894 million from $912 million a year earlier. That’s mainly because the year-earlier quarter benefited from warmer-than-usual weather, which spurred demand for power and gas for air conditioning. Earnings also fell 10.9%, to $0.57 from $0.64. However, pending rate hikes should lift its earnings. Alliant Energy is a buy. AMEREN CORP. $82 (www.ameren.com) is a hold. The company provides electricity and natural gas to 3.3 million customers in Illinois and Missouri. In the three months ended June 30, 2024, Ameren’s revenue fell 3.8%, to $1.69 billion from $1.76 billion a year earlier. That’s mainly due to severe weather events, which led to power outages. However, earnings gained 7.8%, to $0.97 a share from $0.90, on higher power rates. Still, the company’s high reliance on coal (over 70% of its fuel needs) remains a risk…