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NYSE:ALE

ALLETE (ALE) Stock Price, News & Analysis

$64.56
+0.09 (+0.14%)
(As of 07/26/2024 ET)
Today's Range
$64.32
$64.84
50-Day Range
$61.67
$64.58
52-Week Range
$49.29
$65.86
Volume
238,715 shs
Average Volume
401,850 shs
Market Capitalization
$3.73 billion
P/E Ratio
15.52
Dividend Yield
4.37%
Price Target
$62.00

ALLETE MarketRank™ Stock Analysis

Analyst Rating
Hold
2.00 Rating Score
Upside/​Downside
4.0% Downside
$62.00 Price Target
Short Interest
Healthy
2.08% of Shares Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
-1.71
Upright™ Environmental Score
News Sentiment
0.07mentions of ALLETE in the last 14 days
Based on 8 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
7.20%
From $3.75 to $4.02 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

4.13 out of 5 stars

Utilities Sector

32nd out of 90 stocks

Electric & Other Services Combined Industry

8th out of 18 stocks

ALE stock logo

About ALLETE Stock (NYSE:ALE)

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. In addition, 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. Further, it owns and maintains electric transmission assets in Wisconsin, Michigan, Minnesota, and Illinois. Additionally, the company focuses on developing, acquiring, and operating clean and renewable energy projects; and owns and operates approximately 1,200 megawatts of wind energy generation facility, as well as involved in the coal mining operations in North Dakota; and real estate investment activities in Florida. It owns and operates 162 substations with a total capacity of 9,980 megavolt amperes. The company 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.

ALE Stock Price History

ALE Stock News Headlines

Musk’s new company could top a trillion?
The investment legend who predicted the rise of Bitcoin, Facebook and streaming services like Netflix… Just released the details on what he’s calling Elon’s Project X-9840.
StockNews.com Initiates Coverage on ALLETE (NYSE:ALE)
Allete, Inc.: BlackRock's Backdoor Takeover
Musk’s new company could top a trillion?
The investment legend who predicted the rise of Bitcoin, Facebook and streaming services like Netflix… Just released the details on what he’s calling Elon’s Project X-9840.
ALLETE Q1 Net Income Declines
Allete: Q1 Earnings Snapshot
ALLETE, Inc. reports first quarter 2024 earnings
See More Headlines
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Company Calendar

Last Earnings
5/09/2024
Ex-Dividend for 6/1 Dividend
5/14/2024
Dividend Payable
6/01/2024
Today
7/26/2024
Next Earnings (Confirmed)
8/01/2024
Ex-Dividend for 9/1 Dividend
8/15/2024
Dividend Payable
9/01/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Sector
Utilities
Industry
Electric & other services combined
Sub-Industry
Electric Utilities
CUSIP
01852230
Employees
1,560
Year Founded
2015

Price Target and Rating

Average Stock Price Target
$62.00
High Stock Price Target
$67.00
Low Stock Price Target
$58.00
Potential Upside/Downside
-4.0%
Consensus Rating
Hold
Rating Score (0-4)
2.00
Research Coverage
4 Analysts

Profitability

Net Income
$247.10 million
Pretax Margin
12.15%

Debt

Sales & Book Value

Annual Sales
$1.72 billion
Cash Flow
$8.72 per share
Book Value
$59.27 per share

Miscellaneous

Free Float
57,621,000
Market Cap
$3.73 billion
Optionable
Optionable
Beta
0.80
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Key Executives

  • Ms. Bethany M. Owen (Age 58)
    Chair, CEO & President
    Comp: $2.54M
  • Mr. Steven Wayne Morris (Age 62)
    Senior VP & CFO
    Comp: $1.09M
  • Ms. Margaret A. Thickens (Age 57)
    VP, Chief Legal Officer & Corporate Secretary
    Comp: $941.88k
  • Mr. Vincent J. Meyer
    Vice President of Investor Relations
  • Mr. Patrick L. Cutshall C.F.A. (Age 59)
    CPA, VP & Corporate Treasurer
    Comp: $502.05k
  • Mr. Rob Sandstrom
    President of Superior Water, Light & Power
  • Mr. Matthew Hankey
    President & CEO of New Energy Equity
  • Mr. Frank Frederickson
    Vice President of Customer Experience- Minnesota Power

ALE Stock Analysis - Frequently Asked Questions

How have ALE shares performed this year?

ALLETE's stock was trading at $61.16 on January 1st, 2024. Since then, ALE stock has increased by 5.6% and is now trading at $64.56.
View the best growth stocks for 2024 here
.

How were ALLETE's earnings last quarter?

ALLETE, Inc. (NYSE:ALE) issued its quarterly earnings results on Thursday, May, 9th. The utilities provider reported $0.97 EPS for the quarter, missing analysts' consensus estimates of $1.09 by $0.12. The utilities provider earned $403.30 million during the quarter, compared to analyst estimates of $581.26 million. ALLETE had a net margin of 13.94% and a trailing twelve-month return on equity of 7.21%.

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.

Who are ALLETE's major shareholders?

Top institutional investors of ALLETE include Bank of New York Mellon Corp (1.49%), Retirement Systems of Alabama (0.32%), Nisa Investment Advisors LLC (0.09%) and Raymond James & Associates (0.06%).
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 Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of ALLETE own?

Based on aggregate information from My MarketBeat watchlists, some other companies that ALLETE investors own include AbbVie (ABBV), AT&T (T), Hawkins (HWKN), Verizon Communications (VZ), Ameren (AEE), United Parcel Service (UPS) and BlackRock (BLK).

This page (NYSE:ALE) was last updated on 7/27/2024 by MarketBeat.com Staff

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