ALLETE (ALE) Stock Forecast, Price & News

6 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for ALLETE in the last twelve months. There are currently 1 sell rating, 4 hold ratings and 1 buy rating for the stock. The consensus among Wall Street equities research 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.

6 brokerages have issued 12-month price objectives for ALLETE's shares. Their ALE share price forecasts range from $54.00 to $74.00. On average, they anticipate the company's stock price to reach $64.17 in the next twelve months. This suggests a possible upside of 5.0% from the stock's current price.
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 2023. Since then, ALE stock has decreased by 5.2% and is now trading at $61.13.
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ALLETE saw a decline in short interest in 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 volume of 291,100 shares, the short-interest ratio is currently 2.7 days.
View ALLETE's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Wednesday, August 2nd 2023.
View our ALE earnings forecast.

ALLETE, Inc. (NYSE:ALE) released its earnings results on Wednesday, May, 3rd. The utilities provider reported $1.02 EPS for the quarter, missing the consensus estimate of $1.19 by $0.17. The utilities provider had revenue of $564.90 million for the quarter, compared to analyst estimates of $376 million. ALLETE had a trailing twelve-month return on equity of 5.40% and a net margin of 10.34%. The business's revenue for the quarter was up 47.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.24 earnings per share.

ALLETE declared a quarterly dividend on Thursday, April 27th. Investors of record on Monday, May 15th will be paid a dividend of $0.678 per share on Thursday, June 1st. This represents a $2.71 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend is Friday, May 12th.
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 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

ALLETE (NYSE:ALE) pays an annual dividend of $2.71 per share and currently has a dividend yield of 4.43%. 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.

ALLETE issued an update on its FY 2023 earnings guidance on Wednesday, May, 3rd. The company provided earnings per share guidance of $3.55-$3.85 for the period, compared to the consensus estimate of $3.74. The company issued revenue guidance of -.

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 trades on the New York Stock Exchange (NYSE) under the ticker symbol "ALE."

ALLETE's stock is owned by a number of retail and institutional 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.

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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One share of ALE stock can currently be purchased for approximately $61.13.

ALLETE (NYSE:ALE) has a market capitalization of $3.50 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.

The company employs 1,494 workers across the globe.

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.