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NYSE:ALE

ALLETE - ALE Stock Forecast, Price & News

$63.29
-0.26 (-0.41%)
(As of 08/17/2022 12:00 AM ET)
Add
Compare
Today's Range
$62.99
$63.74
50-Day Range
$56.80
$63.55
52-Week Range
$56.55
$71.48
Volume
184,003 shs
Average Volume
317,424 shs
Market Capitalization
$3.61 billion
P/E Ratio
17.48
Dividend Yield
4.09%
Price Target
$61.50

ALLETE MarketRank™ Forecast

Analyst Rating
Hold
2.00 Rating Score
Upside/​Downside
2.8% Downside
$61.50 Price Target
Short Interest
Healthy
2.89% of Shares Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
-1.75
Upright™ Environmental Score
News Sentiment
0.21mentions of ALLETE in the last 14 days
Based on 3 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
7.24%
From $3.73 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.

2.24 out of 5 stars

Utilities Sector

47th out of 93 stocks

Electric & Other Services Combined Industry

14th out of 24 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 145,000 retail customers and 15 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 1,000 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 158 substations with a total capacity of 10,066 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. ALLETE, Inc. was incorporated in 1906 and is headquartered in Duluth, Minnesota.

ALLETE Price Performance

ALE traded up $0.02 during trading on Wednesday, reaching $63.57. The company's stock had a trading volume of 3,908 shares, compared to its average volume of 278,230. The company has a quick ratio of 0.43, a current ratio of 0.93 and a debt-to-equity ratio of 0.48. The firm has a fifty day simple moving average of $59.64 and a two-hundred day simple moving average of $61.79. ALLETE has a 1 year low of $56.55 and a 1 year high of $71.48. The company has a market cap of $3.63 billion, a price-to-earnings ratio of 17.56, a PEG ratio of 1.93 and a beta of 0.61.

ALLETE (NYSE:ALE - Get Rating) last released its earnings results on Wednesday, August 3rd. The utilities provider reported $0.77 earnings per share for the quarter, topping analysts' consensus estimates of $0.63 by $0.14. ALLETE had a net margin of 12.89% and a return on equity of 6.29%. During the same period last year, the business posted $0.53 EPS. As a group, analysts anticipate that ALLETE will post 3.73 EPS for the current year.

ALLETE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Monday, August 15th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend is Friday, August 12th. ALLETE's dividend payout ratio (DPR) is 71.82%.

Wall Street Analysts Forecast Growth

ALE has been the topic of several research analyst reports. StockNews.com upgraded ALLETE from a "sell" rating to a "hold" rating in a report on Friday, August 12th. Bank of America initiated coverage on ALLETE in a report on Wednesday, May 25th. They issued a "neutral" rating and a $63.00 price objective on the stock.

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ALE Stock News Headlines

ALLETE (NYSE:ALE) Raised to Hold at StockNews.com
ALLETE (NYSE:ALE) Downgraded by StockNews.com to Sell
ALLETE (ALE) Q2 2022 Earnings Call Transcript
ALLETE (ALE) to Release Quarterly Earnings on Wednesday
See More Headlines
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ALE Company Calendar

Ex-Dividend for 6/1 Dividend
5/13/2022
Dividend Payable
6/01/2022
Last Earnings
8/03/2022
Ex-Dividend for 9/1 Dividend
8/12/2022
Today
8/17/2022
Dividend Payable
9/01/2022
Next Earnings (Estimated)
11/03/2022
Fiscal Year End
12/31/2022

Industry, Sector and Symbol

Industry
Electric & other services combined
Sub-Industry
Electric Utilities
Sector
Utilities
CUSIP
01852230
Employees
1,365
Year Founded
2015

Price Target and Rating

Average Stock Price Forecast
$61.50
High Stock Price Forecast
$63.00
Low Stock Price Forecast
$60.00
Forecasted Upside/Downside
-2.8%
Consensus Rating
Hold
Rating Score (0-4)
2.00
Research Coverage
2 Analysts

Profitability

Net Income
$169.20 million
Pretax Margin
7.68%

Debt

Sales & Book Value

Annual Sales
$1.42 billion
Cash Flow
$7.63 per share
Book Value
$58.85 per share

Miscellaneous

Free Float
56,941,000
Market Cap
$3.61 billion
Optionable
Optionable
Beta
0.61

Key Executives

  • Ms. Bethany M. Owen (Age 56)
    Chair, CEO & Pres
    Comp: $1.44M
  • Mr. Steven Wayne Morris (Age 60)
    Sr. VP & CFO
    Comp: $520.73k
  • Ms. Nicole Renee Johnson (Age 47)
    VP & Chief Admin. Officer
    Comp: $538.71k
  • Ms. Margaret A. Thickens (Age 55)
    VP, Chief Legal Officer & Corp. Sec.
    Comp: $551.85k
  • Mr. Vincent J. Meyer
    VP of Investor Relations
  • Jeffrey Scissons
    Director of Corp. Devel.
  • Mr. Al Rudeck
    Pres of Allete Clean Energy, Inc.
  • Mr. Patrick L. Cutshall C.F.A. (Age 57)
    CPA, CPA, CFA, VP & Corp. Treasurer
  • Mr. Rob Sandstrom
    Pres of Superior Water, Light & Power
  • Mr. Frank Frederickson
    VP of Customer Experience- Minnesota Power













ALE Stock - Frequently Asked Questions

Should I buy or sell ALLETE stock right now?

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

What is ALLETE's stock price forecast for 2022?

2 equities research analysts have issued twelve-month price objectives for ALLETE's shares. Their ALE share price forecasts range from $60.00 to $63.00. On average, they predict the company's stock price to reach $61.50 in the next twelve months. This suggests that the stock has a possible downside of 2.8%.
View analysts price targets for ALE
or view top-rated stocks among Wall Street analysts.

How have ALE shares performed in 2022?

ALLETE's stock was trading at $66.35 at the beginning of the year. Since then, ALE stock has decreased by 4.6% and is now trading at $63.29.
View the best growth stocks for 2022 here
.

When is ALLETE's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, November 3rd 2022.
View our ALE earnings forecast
.

How were ALLETE's earnings last quarter?

ALLETE, Inc. (NYSE:ALE) posted its earnings results on Wednesday, August, 3rd. The utilities provider reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.14. ALLETE had a trailing twelve-month return on equity of 6.29% and a net margin of 12.89%. During the same period in the prior year, the firm earned $0.53 earnings per share.

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

ALLETE announced a quarterly dividend on Friday, July 29th. Stockholders of record on Monday, August 15th will be given a dividend of $0.65 per share on Thursday, September 1st. This represents a $2.60 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date of this dividend is Friday, August 12th.
Read our dividend analysis for ALE
.

Is ALLETE a good dividend stock?

ALLETE (NYSE:ALE) pays an annual dividend of $2.60 per share and currently has a dividend yield of 4.09%. 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 71.82%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, ALE will have a dividend payout ratio of 65.00% 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 FY 2022 earnings guidance on Wednesday, August, 10th. The company provided earnings per share (EPS) guidance of $3.60-$3.90 for the period, compared to the consensus EPS 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 many different retail and institutional investors. Top institutional shareholders include State Street Corp (4.12%), Victory Capital Management Inc. (3.21%), Macquarie Group Ltd. (2.10%), Principal Financial Group Inc. (1.51%), Aristotle Capital Boston LLC (1.32%) and Northern Trust Corp (1.31%). Insiders that own company stock include Alan R Hodnik, Heidi E Jimmerson, Madeleine W Ludlow and Robert John Adams.
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 $63.29.

How much money does ALLETE make?

ALLETE (NYSE:ALE) has a market capitalization of $3.61 billion and generates $1.42 billion in revenue each year. The utilities provider earns $169.20 million in net income (profit) each year or $3.62 on an earnings per share basis.

How many employees does ALLETE have?

The company employs 1,365 workers across the globe.

When was ALLETE founded?

ALLETE was founded in 2015.

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 or via fax at 218-723-3944.

This page (NYSE:ALE) was last updated on 8/17/2022 by MarketBeat.com Staff

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