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How this AP photographer captured a unique splash at the swimming worlds with an underwater camera
The REAL Reason Americans Keep Falling Behind (Ad)
Delays in promised Western military aid to Ukraine are costing lives, the defense minister says
MILAN FASHION PHOTOS: Feben, Rave Review promote looks for women of all shapes, ages and sizes
The REAL Reason Americans Keep Falling Behind (Ad)
Caribbean leaders meet with Haiti's prime minister. Foreign force deployment is on the agenda
What recession? Professional forecasters raise expectations for US economy in 2024
Critical asset just had biggest fall on record (Ad)
Stock market today: Asian shares mostly decline, while Tokyo again touches a record high
AT&T will give $5 to customers hit by cellphone network outage
S&P 500   5,088.80
DOW   39,131.53
QQQ   436.78
How this AP photographer captured a unique splash at the swimming worlds with an underwater camera
The REAL Reason Americans Keep Falling Behind (Ad)
Delays in promised Western military aid to Ukraine are costing lives, the defense minister says
MILAN FASHION PHOTOS: Feben, Rave Review promote looks for women of all shapes, ages and sizes
The REAL Reason Americans Keep Falling Behind (Ad)
Caribbean leaders meet with Haiti's prime minister. Foreign force deployment is on the agenda
What recession? Professional forecasters raise expectations for US economy in 2024
Critical asset just had biggest fall on record (Ad)
Stock market today: Asian shares mostly decline, while Tokyo again touches a record high
AT&T will give $5 to customers hit by cellphone network outage
S&P 500   5,088.80
DOW   39,131.53
QQQ   436.78
How this AP photographer captured a unique splash at the swimming worlds with an underwater camera
The REAL Reason Americans Keep Falling Behind (Ad)
Delays in promised Western military aid to Ukraine are costing lives, the defense minister says
MILAN FASHION PHOTOS: Feben, Rave Review promote looks for women of all shapes, ages and sizes
The REAL Reason Americans Keep Falling Behind (Ad)
Caribbean leaders meet with Haiti's prime minister. Foreign force deployment is on the agenda
What recession? Professional forecasters raise expectations for US economy in 2024
Critical asset just had biggest fall on record (Ad)
Stock market today: Asian shares mostly decline, while Tokyo again touches a record high
AT&T will give $5 to customers hit by cellphone network outage
NYSE:ALE

ALLETE (ALE) Stock Price, News & Analysis

$57.12
+0.17 (+0.30%)
(As of 02/23/2024 08:52 PM ET)
Today's Range
$56.78
$57.31
50-Day Range
$56.96
$62.83
52-Week Range
$49.29
$66.69
Volume
221,600 shs
Average Volume
305,449 shs
Market Capitalization
$3.29 billion
P/E Ratio
13.28
Dividend Yield
4.94%
Price Target
$58.60

ALLETE MarketRank™ Stock Analysis

Analyst Rating
Reduce
1.80 Rating Score
Upside/​Downside
2.6% Upside
$58.60 Price Target
Short Interest
Healthy
1.79% of Shares Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
-1.71
Upright™ Environmental Score
News Sentiment
0.22mentions of ALLETE in the last 14 days
Based on 18 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
11.73%
From $3.75 to $4.19 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

4.39 out of 5 stars

Utilities Sector

26th out of 86 stocks

Electric & Other Services Combined Industry

10th out of 18 stocks


ALE stock logo

About ALLETE Stock (NYSE:ALE)

ALLETE, Inc. operates as an energy company. The company operates through Regulated Operations, ALLETE Clean Energy, and Corporate and Other segments. It generates electricity from coal-fired, biomass co-fired / natural gas, hydroelectric, wind, and solar. The company provides regulated utility electric services in northwestern Wisconsin to approximately 15,000 electric customers, 13,000 natural gas customers, and 10,000 water customers, as well as regulated utility electric services in northeastern Minnesota to approximately 150,000 retail customers and 14 non-affiliated municipal customers. It also owns and maintains electric transmission assets in Wisconsin, Michigan, Minnesota, and Illinois. In addition, the company focuses on developing, acquiring, and operating clean and renewable energy projects; and owns and operates approximately 1,300 megawatts of wind energy generation facility. Further, it is involved in the coal mining operations in North Dakota; and real estate investment activities in Florida. The company owns and operates 162 substations with a total capacity of 10,116 megavolt amperes. It serves taconite mining, paper, pulp and secondary wood products, pipeline, and other industries. The company was formerly known as Minnesota Power, Inc. and changed its name to ALLETE, Inc. in May 2001. The company was incorporated in 1906 and is headquartered in Duluth, Minnesota.

ALE Stock Price History

ALE Stock News Headlines

Analysts Set ALLETE, Inc. (NYSE:ALE) Price Target at $58.60
Gold explodes past $2,000, here's what's next
After what feels like nearly a decade of disappointing returns, gold is entering a new bull market. You can get started today for just $5.
ALLETE, Inc. (NYSE:ALE) Q4 2023 Earnings Call Transcript
ALLETE: Q4 Earnings Insights
Gold explodes past $2,000, here's what's next
After what feels like nearly a decade of disappointing returns, gold is entering a new bull market. You can get started today for just $5.
Allete: Q4 Earnings Snapshot
Allete Q4 Results Miss Estimates
Earnings Outlook For ALLETE
ALLETE (ALE) Scheduled to Post Quarterly Earnings on Tuesday
ALLETE Q4 2023 Earnings Preview
ALLETE, Inc. (ALE)
Allete: I Continue To Be Bullish On This Quality Business
ALLETE to announce 2023 financial results on February 20
Allete Inc.
Sidoti & Co. Downgrades ALLETE (ALE)
See More Headlines
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Company Calendar

Ex-Dividend for 12/1 Dividend
11/14/2023
Dividend Payable
12/01/2023
Ex-Dividend for 3/1 Dividend
2/14/2024
Last Earnings
2/20/2024
Today
2/25/2024
Dividend Payable
3/01/2024
Next Earnings (Estimated)
5/01/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Sector
Utilities
Industry
Electric & other services combined
Sub-Industry
Electric Utilities
CUSIP
01852230
Employees
1,494
Year Founded
2015

Price Target and Rating

Average Stock Price Target
$58.60
High Stock Price Target
$64.00
Low Stock Price Target
$54.00
Potential Upside/Downside
+2.6%
Consensus Rating
Reduce
Rating Score (0-4)
1.80
Research Coverage
5 Analysts

Profitability

Net Income
$189.30 million
Pretax Margin
11.00%

Debt

Sales & Book Value

Annual Sales
$1.88 billion
Cash Flow
$8.71 per share
Book Value
$59.17 per share

Miscellaneous

Free Float
57,446,000
Market Cap
$3.29 billion
Optionable
Optionable
Beta
0.77
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Key Executives

  • Ms. Bethany M. Owen (Age 58)
    Chair, CEO & President
    Comp: $1.54M
  • Mr. Steven Wayne Morris (Age 62)
    Senior VP & CFO
    Comp: $692.42k
  • Ms. Margaret A. Thickens (Age 57)
    VP, Chief Legal Officer & Corporate Secretary
    Comp: $645.57k
  • Mr. Patrick L. Cutshall C.F.A. (Age 59)
    CPA, VP & Corporate Treasurer
    Comp: $502.05k
  • Mr. Vincent J. Meyer
    Vice President of Investor Relations
  • Jeffrey Scissons
    Director of Corporate Development
  • Mr. Rob Sandstrom
    President of Superior Water, Light & Power
  • Mr. Matthew Hankey
    President & CEO of New Energy Equity
  • Mr. Frank Frederickson
    Vice President of Customer Experience- Minnesota Power














ALE Stock Analysis - Frequently Asked Questions

Should I buy or sell ALLETE stock right now?

5 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for ALLETE in the last year. There are currently 1 sell rating and 4 hold ratings for the stock. The consensus among Wall Street research analysts is that investors should "reduce" ALE shares.
View ALE analyst ratings
or view top-rated stocks.

What is ALLETE's stock price target for 2024?

5 Wall Street research analysts have issued twelve-month price objectives for ALLETE's shares. Their ALE share price targets range from $54.00 to $64.00. On average, they anticipate the company's stock price to reach $58.60 in the next year. This suggests a possible upside of 2.6% from the stock's current price.
View analysts price targets for ALE
or view top-rated stocks among Wall Street analysts.

How have ALE shares performed in 2024?

ALLETE's stock was trading at $61.16 at the start of the year. Since then, ALE shares have decreased by 6.6% and is now trading at $57.12.
View the best growth stocks for 2024 here
.

Are investors shorting ALLETE?

ALLETE saw a increase in short interest in January. As of January 31st, there was short interest totaling 1,030,000 shares, an increase of 8.6% from the January 15th total of 948,300 shares. Based on an average daily trading volume, of 380,500 shares, the short-interest ratio is presently 2.7 days.
View ALLETE's Short Interest
.

When is ALLETE's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Wednesday, May 1st 2024.
View our ALE earnings forecast
.

How were ALLETE's earnings last quarter?

ALLETE, Inc. (NYSE:ALE) posted its quarterly earnings data on Tuesday, February, 20th. The utilities provider reported $0.89 EPS for the quarter, missing analysts' consensus estimates of $0.97 by $0.08. The utilities provider earned $402.70 million during the quarter, compared to the consensus estimate of $425.21 million. ALLETE had a trailing twelve-month return on equity of 7.31% and a net margin of 13.15%. The business's revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.90 EPS.

How often does ALLETE pay dividends? What is the dividend yield for ALLETE?

ALLETE declared a quarterly dividend on Friday, January 26th. Investors of record on Thursday, February 15th will be paid a dividend of $0.705 per share on Friday, March 1st. This represents a $2.82 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date is Wednesday, February 14th. This is an increase from the stock's previous quarterly dividend of $0.68.
Read our dividend analysis for ALE
.

Is ALLETE a good dividend stock?

ALLETE (NYSE:ALE) pays an annual dividend of $2.82 per share and currently has a dividend yield of 4.94%. ALE has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The company has been increasing its dividend for 14 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 65.58%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, ALE will have a dividend payout ratio of 67.30% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for ALE.

What guidance has ALLETE issued on next quarter's earnings?

ALLETE updated its FY23 earnings guidance on Tuesday, February, 20th. The company provided earnings per share (EPS) guidance of $3.60-3.90 for the period, compared to the consensus EPS estimate of $4.24.

What is Alan R. Hodnik's approval rating as ALLETE's CEO?

5 employees have rated ALLETE Chief Executive Officer Alan R. Hodnik on Glassdoor.com. Alan R. Hodnik has an approval rating of 100% among the company's employees. This puts Alan R. Hodnik in the top 10% of approval ratings compared to other CEOs of publicly-traded companies.

What other stocks do shareholders of ALLETE own?

Based on aggregate information from My MarketBeat watchlists, some companies that other ALLETE investors own include AbbVie (ABBV), AT&T (T), Hawkins (HWKN), Verizon Communications (VZ), Ameren (AEE), United Parcel Service (UPS), BlackRock (BLK), Cisco Systems (CSCO), Home Depot (HD) and International Business Machines (IBM).

Who are ALLETE's major shareholders?

ALLETE's stock is owned by many different institutional and retail investors. Top institutional shareholders include Vanguard Group Inc. (11.45%), Victory Capital Management Inc. (2.27%), First Trust Advisors LP (2.18%), Dimensional Fund Advisors LP (1.55%), Charles Schwab Investment Management Inc. (1.25%) and Northern Trust Corp (1.21%).
View institutional ownership trends
.

How do I buy shares of ALLETE?

Shares of ALE stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

This page (NYSE:ALE) was last updated on 2/26/2024 by MarketBeat.com Staff