ALLETE (ALE) Stock Forecast, Price & News

6 Wall Street analysts have issued "buy," "hold," and "sell" ratings for ALLETE in the last twelve months. There are currently 2 sell ratings, 3 hold ratings and 1 buy rating for the stock. The consensus among Wall Street analysts is that investors should "reduce" ALE shares.
View ALE analyst ratings or view top-rated stocks.

6 Wall Street analysts have issued twelve-month price objectives for ALLETE's shares. Their ALE share price forecasts range from $49.00 to $74.00. On average, they expect the company's stock price to reach $60.83 in the next year. This suggests a possible upside of 20.7% 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 21.9% and is now trading at $50.39.
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ALLETE saw a increase in short interest in 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 trading volume of 281,400 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 Wednesday, November 8th 2023.
View our ALE earnings forecast.

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

ALLETE announced a quarterly dividend on Monday, July 31st. Investors of record on Tuesday, August 15th will be paid a dividend of $0.678 per share on Friday, September 1st. This represents a $2.71 dividend on an annualized basis and a dividend yield of 5.38%. The ex-dividend date of this dividend is Monday, August 14th.
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), 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 Index Fund (VTWV) and Vanguard Utilities ETF (VPU).

ALLETE (NYSE:ALE) pays an annual dividend of $2.71 per share and currently has a dividend yield of 5.13%. 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.

ALLETE issued an update on its FY14 earnings guidance on Tuesday, August, 8th. The company provided EPS guidance of $3.55-$3.85 for the period.

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."

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 $50.39.

ALLETE (NYSE:ALE) has a market capitalization of $2.89 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.

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.