ALLETE Stock Price, News & Analysis (NYSE:ALE)

5 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for ALLETE in the last year. There are currently 2 sell ratings, 2 hold ratings and 1 buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should "reduce" ALE shares.
View ALE analyst ratings or view top-rated stocks.

5 Wall Street research analysts have issued 1-year price objectives for ALLETE's stock. Their ALE share price targets range from $41.00 to $74.00. On average, they expect the company's stock price to reach $58.40 in the next twelve months. This suggests that the stock has a possible downside of 4.8%.
View analysts price targets for ALE or view top-rated stocks among Wall Street analysts.

ALLETE's stock was trading at $64.51 at the beginning of the year. Since then, ALE shares have decreased by 4.9% and is now trading at $61.35.
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ALLETE saw a increase in short interest in the month of October. As of October 31st, there was short interest totaling 991,700 shares, an increase of 26.2% from the October 15th total of 785,600 shares. Based on an average trading volume of 334,500 shares, the days-to-cover ratio is presently 3.0 days.
View ALLETE's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Thursday, February 15th 2024.
View our ALE earnings forecast.

ALLETE, Inc. (NYSE:ALE) announced its quarterly earnings data on Thursday, November, 2nd. The utilities provider reported $1.49 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.88. The utilities provider earned $378.80 million during the quarter, compared to analysts' expectations of $394.72 million. ALLETE had a trailing twelve-month return on equity of 7.34% and a net margin of 13.00%.

ALLETE declared a quarterly dividend on Friday, October 27th. Stockholders of record on Wednesday, November 15th will be given a dividend of $0.678 per share on Friday, December 1st. This represents a $2.71 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend is Tuesday, November 14th.
Read our dividend analysis for ALE.

ALLETE (NYSE:ALE) pays an annual dividend of $2.71 per share and currently has a dividend yield of 4.39%. 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 62.88%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, ALE will have a dividend payout ratio of 65.46% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for ALE.

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), KFA Value Line Dynamic Core Equity Index ETF (KVLE), Invesco High Yield Equity Dividend Achievers ETF (PEY), VictoryShares US Small Cap High Div Volatility Wtd ETF (CSB), Global X Alternative Income ETF (ALTY), Vanguard Russell 2000 Value ETF (VTWV) and Vanguard Utilities ETF (VPU).

ALLETE issued an update on its FY14 earnings guidance on Thursday, November, 2nd. The company provided earnings per share (EPS) guidance of $4.30-4.40 for the period, compared to the consensus estimate of $3.68.

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.

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).

ALLETE's stock is owned by many different institutional and retail investors. Top institutional investors include Victory Capital Management Inc. (2.28%), FMR LLC (2.18%), Invesco Ltd. (1.44%), Bank of New York Mellon Corp (1.38%), Morgan Stanley (1.26%) and Charles Schwab Investment Management Inc. (1.21%).
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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.
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