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ALLETE (ALE) Stock Price, News & Analysis

$61.20
-0.15 (-0.24%)
(As of 05:32 PM ET)
Compare
Today's Range
$60.53
$61.65
50-Day Range
$50.39
$61.73
52-Week Range
$49.29
$66.93
Volume
360,818 shs
Average Volume
319,154 shs
Market Capitalization
$3.52 billion
P/E Ratio
14.20
Dividend Yield
4.43%
Price Target
$58.40

ALLETE MarketRank™ Stock Analysis

Analyst Rating
Reduce
1.80 Rating Score
Upside/​Downside
4.6% Downside
$58.40 Price Target
Short Interest
Healthy
1.73% of Shares Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
-1.71
Upright™ Environmental Score
News Sentiment
0.69mentions of ALLETE in the last 14 days
Based on 8 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
-4.61%
From $4.34 to $4.14 Per Share

Overall MarketRank

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

2.10 out of 5 stars

Utilities Sector

59th out of 85 stocks

Electric & Other Services Combined Industry

14th out of 17 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. 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 Stock Price History

ALE Stock News Headlines

Allete (ALE) Moves to Buy: Rationale Behind the Upgrade
Is This The Most Overlooked Gold Investment Strategy of 2024?
There is little debate on the potential of gold in the next year and decade. The real issue becomes - what's the best gold investment strategy today? Some investors are opting for a unique "royalty" alternative that outshines other options like holding gold bullion or investing in volatile mining stocks.
Is This The Most Overlooked Gold Investment Strategy of 2024?
There is little debate on the potential of gold in the next year and decade. The real issue becomes - what's the best gold investment strategy today? Some investors are opting for a unique "royalty" alternative that outshines other options like holding gold bullion or investing in volatile mining stocks.
Estimating The Intrinsic Value Of ALLETE, Inc. (NYSE:ALE)
Allete: An Undervalued Company With Excellent Opportunity
ALLETE, Inc. (NYSE:ALE) Q3 2023 Earnings Call Transcript
ALLETE Inc ALE
Here's Why You Should Add ALLETE (ALE) to Your Portfolio Now
ALE or IBDRY: Which Is the Better Value Stock Right Now?
See More Headlines
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Company Calendar

Last Earnings
11/02/2023
Ex-Dividend for 12/1 Dividend
11/14/2023
Dividend Payable
12/01/2023
Today
12/11/2023
Fiscal Year End
12/31/2023
Next Earnings (Estimated)
2/15/2024

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 Target
$58.40
High Stock Price Target
$74.00
Low Stock Price Target
$41.00
Potential Upside/Downside
-4.4%
Consensus Rating
Reduce
Rating Score (0-4)
1.80
Research Coverage
5 Analysts

Profitability

Net Income
$189.30 million
Pretax Margin
10.18%

Debt

Sales & Book Value

Annual Sales
$1.90 billion
Cash Flow
$7.47 per share
Book Value
$58.58 per share

Miscellaneous

Free Float
57,345,000
Market Cap
$3.51 billion
Optionable
Optionable
Beta
0.73
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Key Executives

  • Ms. Bethany M. Owen (Age 57)
    Chair, CEO & President
    Comp: $1.54M
  • Mr. Steven Wayne Morris (Age 61)
    Senior VP & CFO
    Comp: $692.42k
  • Ms. Margaret A. Thickens (Age 56)
    VP, Chief Legal Officer & Corporate Secretary
    Comp: $645.57k
  • Mr. Patrick L. Cutshall C.F.A. (Age 58)
    CPA, VP & Corporate Treasurer
    Comp: $502.05k
  • Mr. Vincent J. Meyer
    Vice President of Investor Relations
  • Jeffrey Scissons
    Director of Corporate Development
  • 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

Should I buy or sell ALLETE stock right now?

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

What is ALLETE's stock price target for 2024?

5 Wall Street research analysts have issued twelve-month price targets for ALLETE's stock. Their ALE share price targets range from $41.00 to $74.00. On average, they expect the company's stock price to reach $58.40 in the next year. This suggests that the stock has a possible downside of 4.6%.
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 at the beginning of 2023. Since then, ALE stock has decreased by 5.1% and is now trading at $61.20.
View the best growth stocks for 2023 here
.

Are investors shorting ALLETE?

ALLETE saw a increase in short interest in October. As of October 31st, there was short interest totaling 991,700 shares, an increase of 26.2% from the October 15th total of 785,600 shares. Based on an average daily volume of 334,500 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 Thursday, February 15th 2024.
View our ALE earnings forecast
.

How were ALLETE's earnings last quarter?

ALLETE, Inc. (NYSE:ALE) announced its earnings results on Thursday, November, 2nd. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.88. The utilities provider had revenue of $378.80 million for the quarter, compared to analyst estimates of $394.72 million. ALLETE had a trailing twelve-month return on equity of 7.34% and a net margin of 13.00%.

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

ALLETE announced a quarterly dividend on Friday, October 27th. Shareholders of record on Wednesday, November 15th will be given a dividend of $0.678 per share on Friday, December 1st. This represents a $2.71 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date is Tuesday, November 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 4.42%. 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 62.88%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, ALE will have a dividend payout ratio of 65.46% 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 Thursday, November, 2nd. The company provided EPS guidance of $4.30-4.40 for the period, compared to the consensus estimate of $3.68.

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).

Who are ALLETE's major shareholders?

ALLETE's stock is owned by a variety of retail and institutional investors. Top institutional shareholders include Victory Capital Management Inc. (2.28%), FMR LLC (2.18%), Invesco Ltd. (1.44%), Bank of New York Mellon Corp (1.38%), Morgan Stanley (1.26%) and Charles Schwab Investment Management Inc. (1.21%).
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.

This page (NYSE:ALE) was last updated on 12/11/2023 by MarketBeat.com Staff

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