Updating your Income stocks: Alliant Energy, Ameren & Ceder Fair

Article Excerpt

ALLIANT ENERGY CORP. $51 (www.alliantenergy.com) is a buy. The company sells power and natural gas to 1.4 million clients in Wisconsin, Iowa and Minnesota. In the second quarter of 2023, Alliant’s revenue fell 3.3%, to $912 million from $943 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. However, earnings improved 1.6%, to $0.64 a share from $0.63, partly due to lower fuel costs. Alliant Energy is a buy. AMEREN CORP. $80 (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, 2023, Ameren’s revenue rose 2.0%, to $1.76 billion from $1.73 billion a year earlier. That’s due to new projects and upgrades. Earnings also gained 12.5%, to $0.90 a share from $0.80. However, the company’s high reliance on coal (over 70% of its fuel needs) remains a risk factor. Ameren is a hold. CEDAR FAIR L.P. $39 (www.cedarfair.com) remains a..