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China's 1st domestically made passenger plane completes maiden commercial flight
Free A.I. Trade Alerts. Up to 15 opportunities a day. (Ad)
In Nigeria’s hard-hit north, families seek justice as armed groups seek control
Biden and McCarthy reach a final deal to avoid US default and now must sell it to Congress
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EgyptAir flight from Cairo blows tire during landing in Saudi Arabia
Russia launched 'largest drone attack' on Ukrainian capital before Kyiv Day; 1 killed
Free A.I. Trade Alerts. Up to 15 opportunities a day. (Ad)
'Succession' fans brace for series finale of Emmy-winning hit drama
Turkey's Erdogan wins another term as president, extends rule into 3rd decade
S&P 500   4,205.45
DOW   33,093.34
QQQ   348.40
China's 1st domestically made passenger plane completes maiden commercial flight
Free A.I. Trade Alerts. Up to 15 opportunities a day. (Ad)
In Nigeria’s hard-hit north, families seek justice as armed groups seek control
Biden and McCarthy reach a final deal to avoid US default and now must sell it to Congress
Free A.I. Trade Alerts. Up to 15 opportunities a day. (Ad)
EgyptAir flight from Cairo blows tire during landing in Saudi Arabia
Russia launched 'largest drone attack' on Ukrainian capital before Kyiv Day; 1 killed
Free A.I. Trade Alerts. Up to 15 opportunities a day. (Ad)
'Succession' fans brace for series finale of Emmy-winning hit drama
Turkey's Erdogan wins another term as president, extends rule into 3rd decade
S&P 500   4,205.45
DOW   33,093.34
QQQ   348.40
China's 1st domestically made passenger plane completes maiden commercial flight
Free A.I. Trade Alerts. Up to 15 opportunities a day. (Ad)
In Nigeria’s hard-hit north, families seek justice as armed groups seek control
Biden and McCarthy reach a final deal to avoid US default and now must sell it to Congress
Free A.I. Trade Alerts. Up to 15 opportunities a day. (Ad)
EgyptAir flight from Cairo blows tire during landing in Saudi Arabia
Russia launched 'largest drone attack' on Ukrainian capital before Kyiv Day; 1 killed
Free A.I. Trade Alerts. Up to 15 opportunities a day. (Ad)
'Succession' fans brace for series finale of Emmy-winning hit drama
Turkey's Erdogan wins another term as president, extends rule into 3rd decade
NYSE:ALE

ALLETE (ALE) Stock Forecast, Price & News

$60.26
+0.19 (+0.32%)
(As of 05/26/2023 ET)
Compare
Today's Range
$59.46
$60.36
50-Day Range
$60.07
$65.59
52-Week Range
$47.77
$67.45
Volume
115,155 shs
Average Volume
231,192 shs
Market Capitalization
$3.45 billion
P/E Ratio
18.95
Dividend Yield
4.50%
Price Target
$64.17

ALLETE MarketRank™ Forecast

Analyst Rating
Hold
2.00 Rating Score
Upside/​Downside
6.5% Upside
$64.17 Price Target
Short Interest
Healthy
1.40% of Shares Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
-1.71
Upright™ Environmental Score
News Sentiment
1.09mentions of ALLETE in the last 14 days
Based on 4 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
8.40%
From $3.69 to $4.00 Per Share

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 stars

Utilities Sector

31st out of 86 stocks

Electric & Other Services Combined Industry

6th out of 19 stocks


ALE stock logo

About ALLETE (NYSE:ALE) Stock

ALLETE, 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.

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ALE Stock News Headlines

ALLETE (NYSE:ALE) Coverage Initiated at StockNews.com
"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 >>>
"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 >>>
ALLETE (ALE) Scheduled to Post Earnings on Wednesday
ALLETE (NYSE:ALE) Sees Unusually-High Trading Volume
ALLETE (NYSE:ALE) Lifted to "Buy" at Sidoti
ALLETE (NYSE:ALE) Upgraded to "Hold" at StockNews.com
See More Headlines
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ALE Company Calendar

Ex-Dividend for 3/1 Dividend
2/14/2023
Dividend Payable
3/01/2023
Last Earnings
5/03/2023
Ex-Dividend for 6/1 Dividend
5/12/2023
Today
5/28/2023
Dividend Payable
6/01/2023
Next Earnings (Estimated)
8/02/2023
Fiscal Year End
12/31/2023

Industry, Sector and Symbol

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

Price 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 Rating
Hold
Rating Score (0-4)
2.00
Research Coverage
6 Analysts

Profitability

Net Income
$189.30 million
Pretax Margin
5.51%

Debt

Sales & Book Value

Annual Sales
$1.57 billion
Cash Flow
$7.56 per share
Book Value
$58.58 per share

Miscellaneous

Free Float
57,184,000
Market Cap
$3.45 billion
Optionable
Optionable
Beta
0.74

Key Executives

  • Bethany M. Owen
    Chairman, President & Chief Executive Officer
  • Joshua Kunkel
    Co-President
  • Dean Eastlake
    Chief Operating Officer
  • Steven W. Morris
    Senior VP, Chief Financial & Accounting Officer
  • Patrick L. Cutshall
    Treasurer & Vice President













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
.

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

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