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NYSE:ALE

ALLETE (ALE) Stock Forecast, Price & News

$52.62
+0.05 (+0.10%)
(As of 12:08 PM ET)
Compare
Today's Range
$52.49
$53.55
50-Day Range
$52.53
$58.54
52-Week Range
$47.77
$67.45
Volume
52,851 shs
Average Volume
297,624 shs
Market Capitalization
$3.02 billion
P/E Ratio
15.43
Dividend Yield
5.15%
Price Target
$60.83

ALLETE MarketRank™ Forecast

Analyst Rating
Reduce
1.83 Rating Score
Upside/​Downside
14.6% Upside
$60.83 Price Target
Short Interest
Healthy
1.46% of Shares Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
-1.71
Upright™ Environmental Score
News Sentiment
-1.00mentions of ALLETE in the last 14 days
Based on 2 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
9.81%
From $3.67 to $4.03 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.49 out of 5 stars

Utilities Sector

48th out of 87 stocks

Electric & Other Services Combined Industry

10th out of 17 stocks


ALE stock logo

About ALLETE (NYSE:ALE) Stock

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 Price History

ALE Stock News Headlines

Here's Why You Should Add ALLETE (ALE) to Your Portfolio Now
Uranium Prices Surge as Nuclear Energy Becomes Key
Renewed interest in uranium and rising prices have created a favorable environment for new projects.
ALE or IBDRY: Which Is the Better Value Stock Right Now?
Uranium Prices Surge as Nuclear Energy Becomes Key
Renewed interest in uranium and rising prices have created a favorable environment for new projects.
ALLETE Q2 Net Income Rises; Reaffirms 2023 Guidance
Allete (ALE) Q2 Earnings and Revenues Top Estimates
5ALE : ALLETE Earnings Preview
Expert Ratings for ALLETE
ALLETE Stock To Go Ex-dividend Tomorrow (ALE)
See More Headlines
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ALE Company Calendar

Last Earnings
8/08/2023
Ex-Dividend for 9/1 Dividend
8/14/2023
Dividend Payable
9/01/2023
Today
9/29/2023
Next Earnings (Estimated)
11/08/2023
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
$60.83
High Stock Price Forecast
$74.00
Low Stock Price Forecast
$49.00
Forecasted Upside/Downside
+15.8%
Consensus Rating
Reduce
Rating Score (0-4)
1.83
Research Coverage
6 Analysts

Profitability

Net Income
$189.30 million
Pretax Margin
6.50%

Debt

Sales & Book Value

Annual Sales
$1.57 billion
Cash Flow
$7.37 per share
Book Value
$58.58 per share

Miscellaneous

Free Float
57,266,000
Market Cap
$3.02 billion
Optionable
Optionable
Beta
0.73
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Key Executives

  • Ms. Bethany M. Owen (Age 57)
    Chair, CEO & Pres
    Comp: $1.54M
  • Mr. Steven Wayne Morris (Age 61)
    Sr. VP & CFO
    Comp: $692.42k
  • Ms. Margaret A. Thickens (Age 56)
    VP, Chief Legal Officer & Corp. Sec.
    Comp: $645.57k
  • Mr. Patrick L. Cutshall C.F.A. (Age 58)
    CPA, CFA, CPA, VP & Corp. Treasurer
    Comp: $502.05k
  • Mr. Vincent J. Meyer
    VP of Investor Relations
  • Jeffrey Scissons
    Director of Corp. Devel.
  • Mr. Rob Sandstrom
    Pres of Superior Water, Light & Power
  • Mr. Matthew Hankey
    Pres & CEO of New Energy Equity
  • Mr. Frank Frederickson
    VP of Customer Experience- Minnesota Power













ALE Stock - Frequently Asked Questions

Should I buy or sell ALLETE stock right now?

6 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for ALLETE in the last year. There are currently 2 sell ratings, 3 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.

What is ALLETE's stock price forecast for 2023?

6 Wall Street analysts have issued 12 month price objectives for ALLETE's stock. Their ALE share price forecasts range from $49.00 to $74.00. On average, they anticipate the company's share price to reach $60.83 in the next year. This suggests a possible upside of 15.8% 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 18.6% and is now trading at $52.53.
View the best growth stocks for 2023 here
.

Are investors shorting ALLETE?

ALLETE saw a increase in short interest in the month of September. As of September 15th, there was short interest totaling 839,400 shares, an increase of 7.3% from the August 31st total of 782,100 shares. Based on an average daily trading volume, of 281,400 shares, the short-interest ratio is presently 3.0 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, November 8th 2023.
View our ALE earnings forecast
.

How were ALLETE's earnings last quarter?

ALLETE, Inc. (NYSE:ALE) released its earnings results on Tuesday, August, 8th. The utilities provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.12. The utilities provider had revenue of $533.40 million for the quarter, compared to analysts' expectations of $446.41 million. ALLETE had a net margin of 10.20% and a trailing twelve-month return on equity of 5.81%. The firm's quarterly revenue was up 43.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.67 EPS.

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

ALLETE declared a quarterly dividend on Monday, July 31st. Stockholders of record on Tuesday, August 15th will be given a dividend of $0.678 per share on Friday, September 1st. This represents a $2.71 dividend on an annualized basis and a yield of 5.16%. The ex-dividend date of this dividend is Monday, August 14th.
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 5.03%. 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 79.47%. 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 67.25% 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 issued an update on its FY14 earnings guidance on Tuesday, August, 8th. The company provided earnings per share guidance of $3.55-$3.85 for the period.

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."

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 $52.53.

How much money does ALLETE make?

ALLETE (NYSE:ALE) has a market capitalization of $3.02 billion and generates $1.57 billion in revenue each year. The utilities provider earns $189.30 million in net income (profit) each year or $3.41 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 9/29/2023 by MarketBeat.com Staff

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