NYSE:ALE ALLETE (ALE) Stock Forecast, Price & News $60.26 +0.19 (+0.32%) (As of 05/26/2023 ET) Add Compare Share Share Today's Range$59.46▼$60.3650-Day Range$60.07▼$65.5952-Week Range$47.77▼$67.45Volume115,155 shsAverage Volume231,192 shsMarket Capitalization$3.45 billionP/E Ratio18.95Dividend Yield4.50%Price Target$64.17 ProfileProfileAnalyst RatingsChartCompetitorsDividendEarningsFinancialsInsider TradesInstitutional OwnershipHeadlinesOptions ChainSEC FilingsShort InterestSocial MediaSustainabilityProfileAnalyst RatingsChartCompetitorsDividendEarningsFinancialsInsider TradesInstitutional OwnershipHeadlinesOptions ChainSEC FilingsShort InterestSocial MediaSustainability ALLETE MarketRank™ ForecastAnalyst RatingHold2.00 Rating ScoreUpside/Downside6.5% Upside$64.17 Price TargetShort InterestHealthy1.40% of Shares Sold ShortDividend StrengthStrongBased on Four FactorsSustainability-1.71Upright™ Environmental ScoreNews Sentiment1.09Based on 4 Articles This WeekInsider TradingN/AProj. Earnings Growth8.40%From $3.69 to $4.00 Per ShareSee Full Details Hide Full Details Overall MarketRank™MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.2.51 out of 5 starsUtilities Sector31st out of 86 stocksElectric & Other Services Combined Industry6th out of 19 stocks 1.0 Analyst's Opinion Consensus RatingALLETE has received a consensus rating of Hold. The company's average rating score is 2.00, and is based on 1 buy rating, 4 hold ratings, and 1 sell rating.Price Target Upside/DownsideAccording to analysts' consensus price target of $64.17, ALLETE has a forecasted upside of 6.5% from its current price of $60.26.Amount of Analyst CoverageALLETE has only been the subject of 2 research reports in the past 90 days. Previous Next 5.0 Short Interest Percentage of Shares Shorted1.40% of the outstanding shares of ALLETE have been sold short.Short Interest Ratio / Days to CoverALLETE has a short interest ratio ("days to cover") of 2.7, which is generally considered an acceptable ratio of short interest to trading volume.Change versus previous monthShort interest in ALLETE has recently decreased by 30.43%, indicating that investor sentiment is improving significantly. Previous Next 4.2 Dividend Strength Dividend LeadershipALLETE is a leading dividend payer. It pays a dividend yield of 4.50%, putting its dividend yield in the top 25% of dividend-paying stocks.Dividend GrowthALLETE has been increasing its dividend for 13 years.Dividend CoverageThe dividend payout ratio of ALLETE is 85.22%. Payout ratios above 75% are not desirable because they may not be sustainable.Dividend SustainabilityBased on earnings estimates, ALLETE will have a dividend payout ratio of 67.75% next year. This indicates that ALLETE will be able to sustain or increase its dividend. Previous Next 2.9 Sustainability and ESG Overall ESG (Environmental, Social, and Governance) ScoreALLETE has received a 25.74% net impact score from Upright. The largest positive contribution comes from its "Societal infrastructure" impact, which is mostly driven by its "Retailing electricity produced with wind power", "Construction of solar power plants", "Natural gas distribution services", "Electricity produced with coal", and "Electricity produced with wind power" products. See details.Environmental SustainabilityThe Environmental Impact score for ALLETE is -1.71. Previous Next 3.4 News and Social Media Coverage News SentimentALLETE has a news sentiment score of 1.09. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.41 average news sentiment score of Utilities companies.News Coverage This WeekMarketBeat has tracked 4 news articles for ALLETE this week, compared to 3 articles on an average week.Search InterestOnly 8 people have searched for ALE on MarketBeat in the last 30 days. This is a decrease of -27% compared to the previous 30 days.MarketBeat Follows3 people have added ALLETE to their MarketBeat watchlist in the last 30 days. This is an increase of 50% compared to the previous 30 days. Previous Next 1.7 Company Ownership Insider Buying vs. Insider SellingIn the past three months, ALLETE insiders have not sold or bought any company stock.Percentage Held by InsidersOnly 0.23% of the stock of ALLETE is held by insiders.Percentage Held by Institutions77.52% of the stock of ALLETE is held by institutions. High institutional ownership can be a signal of strong market trust in this company. Previous Next 2.5 Earnings and Valuation Earnings GrowthEarnings for ALLETE are expected to grow by 8.40% in the coming year, from $3.69 to $4.00 per share.Price to Earnings Ratio vs. the MarketThe P/E ratio of ALLETE is 18.95, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 127.86.Price to Earnings Ratio vs. SectorThe P/E ratio of ALLETE is 18.95, which means that it is trading at a less expensive P/E ratio than the Utilities sector average P/E ratio of about 100.55.Price to Earnings Growth RatioALLETE has a PEG Ratio of 2.00. PEG Ratios above 1 indicate that a company could be overvalued.Price to Book Value per Share RatioALLETE has a P/B Ratio of 1.03. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities. Previous Next See Top Rated MarketRank™ Stocks Here About ALLETE (NYSE:ALE) StockALLETE, Inc. engages in the provision of electric and natural gas utility services. It operates through the following business segments: Regulated Operations, ALLETE Clean Energy, and Corporate and Other. The Regulated Operations segment includes regulated utilities, Minnesota Power, SWL&P, and investment in ATC, which regulates utilities that own and maintain electric transmission assets. The ALLETE Clean Energy segment develops, acquires, and operates clean and renewable energy projects. The Corporate and Other segment includes New Energy, South Shore Energy, BNI Energy, ALLETE Properties, a small amount of non-rate base generation, land holdings, and earnings on cash and investments. The company was founded on January 25, 1906 and is headquartered in Duluth, MN.Read More Receive ALE Stock News and Ratings via Email Sign-up to receive the latest news and ratings for ALLETE and its competitors with MarketBeat's FREE daily newsletter. Email Address ALE Stock News HeadlinesMay 21, 2023 | finance.yahoo.comALLETE, Inc. (NYSE:ALE) is a favorite amongst institutional investors who own 78%May 20, 2023 | americanbankingnews.comALLETE (NYSE:ALE) Coverage Initiated at StockNews.comMay 28, 2023 | Behind the Markets (Ad)"Unknown laser company making HUGE profit from Russia-Ukraine War"On February 24th, Russia invaded Ukraine. This caused major stock losses and soaring gas prices. But it also created a HUGE opportunity for savvy investors. There's an unknown laser company that's been profiting greatly from this war... ...and from another major conflict happening 3,000 miles away. Learn more here >>>May 14, 2023 | americanbankingnews.comBrokerages Set ALLETE, Inc. (NYSE:ALE) Price Target at $64.17May 10, 2023 | americanbankingnews.comALLETE, Inc. (ALE) to Issue Quarterly Dividend of $0.68 on June 1stMay 9, 2023 | finance.yahoo.comALLETE advances most transformative growth strategy in company historyMay 8, 2023 | americanbankingnews.comALLETE (NYSE:ALE) Downgraded by Bank of America to "Neutral"May 7, 2023 | finance.yahoo.comWhy It Might Not Make Sense To Buy ALLETE, Inc. (NYSE:ALE) For Its Upcoming DividendMay 28, 2023 | Behind the Markets (Ad)"Unknown laser company making HUGE profit from Russia-Ukraine War"On February 24th, Russia invaded Ukraine. This caused major stock losses and soaring gas prices. But it also created a HUGE opportunity for savvy investors. There's an unknown laser company that's been profiting greatly from this war... ...and from another major conflict happening 3,000 miles away. Learn more here >>>May 5, 2023 | finance.yahoo.comAnalysts' Revenue Estimates For ALLETE, Inc. (NYSE:ALE) Are Surging HigherMay 5, 2023 | americanbankingnews.comALLETE (NYSE:ALE) Announces Earnings Results, Misses Expectations By $0.17 EPSMay 3, 2023 | seekingalpha.comALLETE, Inc. 2023 Q1 - Results - Earnings Call PresentationMay 3, 2023 | finance.yahoo.comALLETE, Inc. reports first quarter earnings of $1.02 per shareMay 2, 2023 | americanbankingnews.comALLETE (ALE) Scheduled to Post Earnings on WednesdayApril 30, 2023 | finance.yahoo.comALLETE (NYSE:ALE) Is Increasing Its Dividend To $0.6775April 19, 2023 | finance.yahoo.comALLETE among Minnesota companies honored for gender parity in boardroom, among executive officersApril 19, 2023 | americanbankingnews.comALLETE, Inc. (NYSE:ALE) Receives $64.67 Consensus Price Target from AnalystsApril 14, 2023 | finance.yahoo.comALLETE to announce first quarter financial results May 3April 13, 2023 | finance.yahoo.comReturns On Capital At ALLETE (NYSE:ALE) Paint A Concerning PictureApril 13, 2023 | finance.yahoo.comImplied Volatility Surging for ALLETE (ALE) Stock OptionsApril 13, 2023 | americanbankingnews.comALLETE (NYSE:ALE) Sees Unusually-High Trading VolumeApril 9, 2023 | americanbankingnews.comALLETE (NYSE:ALE) Lifted to "Buy" at SidotiApril 7, 2023 | americanbankingnews.comALLETE (NYSE:ALE) Upgraded to "Hold" at StockNews.comMarch 27, 2023 | americanbankingnews.comALLETE, Inc. (NYSE:ALE) Receives $62.80 Consensus Target Price from BrokeragesMarch 24, 2023 | seekingalpha.comALLETE (ALE) Presents at the Sidoti Small-Cap Virtual Conference - SlideshowMarch 8, 2023 | finance.yahoo.comALLETE (NYSE:ALE) shareholders have endured a 1.2% loss from investing in the stock three years agoFebruary 18, 2023 | finance.yahoo.comALLETE Full Year 2022 Earnings: Revenues Beat Expectations, EPS LagsSee More Headlines View Price History Chart DataSkip Price History Chart 30 days | 90 days | 365 days | Advanced Chart Receive ALE Stock News and Ratings via Email Sign-up to receive the latest news and ratings for ALLETE and its competitors with MarketBeat's FREE daily newsletter. Email Address ALE Company Calendar Ex-Dividend for 3/1 Dividend2/14/2023Dividend Payable3/01/2023Last Earnings5/03/2023Ex-Dividend for 6/1 Dividend5/12/2023Today5/28/2023Dividend Payable6/01/2023Next Earnings (Estimated)8/02/2023Fiscal Year End12/31/2023Get Stock AlertsIndustry, Sector and Symbol Stock ExchangeNYSE Industry Electric & other services combined Sub-IndustryElectric Utilities SectorUtilities Current SymbolNYSE:ALE CUSIP01852230 CIK66756 Webwww.allete.com Phone(218) 279-5000Fax218-723-3944Employees1,494Year Founded2015Price Target and Rating Average Stock Price Forecast$64.17 High Stock Price Forecast$74.00 Low Stock Price Forecast$54.00 Forecasted Upside/Downside+6.5%Consensus RatingHold Rating Score (0-4)2.00 Research Coverage6 Analysts Profitability EPS (Most Recent Fiscal Year)$3.18 Trailing P/E Ratio18.95 Forward P/E Ratio16.33 P/E Growth2Net Income$189.30 million Net Margins10.34% Pretax Margin5.51% Return on Equity5.40% Return on Assets2.66% Debt Debt-to-Equity Ratio0.52 Current Ratio1.23 Quick Ratio0.48 Sales & Book Value Annual Sales$1.57 billion Price / Sales2.20 Cash Flow$7.56 per share Price / Cash Flow7.97 Book Value$58.58 per share Price / Book1.03Miscellaneous Outstanding Shares57,320,000Free Float57,184,000Market Cap$3.45 billion OptionableOptionable Beta0.74 Key ExecutivesBethany M. OwenChairman, President & Chief Executive OfficerJoshua KunkelCo-PresidentDean EastlakeChief Operating OfficerSteven W. MorrisSenior VP, Chief Financial & Accounting OfficerPatrick L. CutshallTreasurer & Vice PresidentKey CompetitorsUnitilNYSE:UTLNorthWesternNASDAQ:NWEAvistaNYSE:AVANiSourceNYSE:NIAlliant EnergyNASDAQ:LNTView All CompetitorsInstitutional OwnershipProShare Advisors LLCBought 10,535 shares on 5/26/2023Ownership: 0.280%Brandywine Global Investment Management LLCSold 237 shares on 5/25/2023Ownership: 0.261%Ameriprise Financial Inc.Bought 7,563 shares on 5/22/2023Ownership: 0.306%Putnam Investments LLCSold 818 shares on 5/22/2023Ownership: 0.034%New York State Common Retirement FundSold 11,700 shares on 5/18/2023Ownership: 0.053%View All Institutional Transactions ALE Stock - Frequently Asked Questions Should I buy or sell ALLETE stock right now? 6 Wall Street analysts have issued "buy," "hold," and "sell" ratings for ALLETE in the last year. There are currently 1 sell rating, 4 hold ratings and 1 buy rating for the stock. The consensus among Wall Street analysts is that investors should "hold" ALE shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in ALE, but not buy additional shares or sell existing shares. View ALE analyst ratings or view top-rated stocks. What is ALLETE's stock price forecast for 2023? 6 equities research analysts have issued 1 year price objectives for ALLETE's shares. Their ALE share price forecasts range from $54.00 to $74.00. On average, they predict the company's stock price to reach $64.17 in the next twelve months. This suggests a possible upside of 6.5% 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 2023? ALLETE's stock was trading at $64.51 on January 1st, 2023. Since then, ALE stock has decreased by 6.6% and is now trading at $60.26. View the best growth stocks for 2023 here. Are investors shorting ALLETE? ALLETE saw a decline in short interest during the month of May. As of May 15th, there was short interest totaling 800,100 shares, a decline of 30.4% from the April 30th total of 1,150,000 shares. Based on an average daily trading volume, of 291,100 shares, the short-interest ratio is currently 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, August 2nd 2023. View our ALE earnings forecast. How were ALLETE's earnings last quarter? ALLETE, Inc. (NYSE:ALE) issued its quarterly earnings results on Wednesday, May, 3rd. The utilities provider reported $1.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.19 by $0.17. The utilities provider had revenue of $564.90 million for the quarter, compared to analysts' expectations of $376 million. ALLETE had a net margin of 10.34% and a trailing twelve-month return on equity of 5.40%. The business's quarterly revenue was up 47.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.24 EPS. How often does ALLETE pay dividends? What is the dividend yield for ALLETE? ALLETE announced a quarterly dividend on Thursday, April 27th. Shareholders of record on Monday, May 15th will be given a dividend of $0.678 per share on Thursday, June 1st. This represents a $2.71 annualized dividend and a yield of 4.50%. The ex-dividend date is Friday, May 12th. Read our dividend analysis for ALE. What ETFs hold ALLETE's stock? ETFs with the largest weight of ALLETE (NYSE:ALE) stock in their portfolio include Timothy Plan Market Neutral ETF (TPMN), SPDR S&P Kensho Clean Power ETF (CNRG), Invesco High Yield Equity Dividend Achievers ETF (PEY), VictoryShares US Small Cap High Div Volatility Wtd ETF (CSB), KFA Value Line Dynamic Core Equity Index ETF (KVLE), Invesco S&P MidCap Low Volatility ETF (XMLV), Global X Alternative Income ETF (ALTY) and Is ALLETE a good dividend stock? ALLETE (NYSE:ALE) pays an annual dividend of $2.71 per share and currently has a dividend yield of 4.50%. 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 13 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 85.22%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, ALE will have a dividend payout ratio of 67.75% 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 FY 2023 earnings guidance on Wednesday, May, 3rd. The company provided EPS guidance of $3.55-$3.85 for the period, compared to the consensus estimate of $3.74. The company issued revenue guidance of -. 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). What is ALLETE's stock symbol? ALLETE trades on the New York Stock Exchange (NYSE) under the ticker symbol "ALE." Who are ALLETE's major shareholders? ALLETE's stock is owned by a variety of institutional and retail investors. Top institutional investors include BlackRock Inc. (12.71%), State Street Corp (4.09%), Victory Capital Management Inc. (3.75%), ATLAS Infrastructure Partners UK Ltd. (2.77%), Macquarie Group Ltd. (2.30%) and First Trust Advisors LP (2.28%). 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 WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab. Compare Top Brokerages Here. What is ALLETE's stock price today? One share of ALE stock can currently be purchased for approximately $60.26. How much money does ALLETE make? ALLETE (NYSE:ALE) has a market capitalization of $3.45 billion and generates $1.57 billion in revenue each year. The utilities provider earns $189.30 million in net income (profit) each year or $3.18 on an earnings per share basis. How many employees does ALLETE have? The company employs 1,494 workers across the globe. How can I contact ALLETE? ALLETE's mailing address is 30 W SUPERIOR STREET, DULUTH MN, 55802. The official website for the company is www.allete.com. The utilities provider can be reached via phone at (218) 279-5000, via email at arutledge@allete.com, or via fax at 218-723-3944. This page (NYSE:ALE) was last updated on 5/28/2023 by MarketBeat.com Staff Adding Choose a watchlist: Watchlist Adding You have already added five stocks to your watchlist. Upgrade to MarketBeat All Access to add more stocks to your watchlist. Adding ALLETE, Inc. Please log in to your account or sign up in order to add this asset to your watchlist. Get 30 Days of MarketBeat All Access Free Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools: Best-in-Class Portfolio Monitoring View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. Stock Ideas and Recommendations Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat's trending stocks report. 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