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NYSE:ALE

ALLETE (ALE) Stock Price, News & Analysis

$62.92
+0.35 (+0.56%)
(As of 05/24/2024 ET)
Today's Range
$62.70
$62.95
50-Day Range
$57.46
$64.28
52-Week Range
$49.29
$65.86
Volume
224,802 shs
Average Volume
760,289 shs
Market Capitalization
$3.62 billion
P/E Ratio
15.13
Dividend Yield
4.48%
Price Target
$60.40

ALLETE MarketRank™ Stock Analysis

Analyst Rating
Reduce
1.80 Rating Score
Upside/​Downside
4.0% Downside
$60.40 Price Target
Short Interest
Healthy
1.93% 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 6 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.

4.46 out of 5 stars

Utilities Sector

19th out of 92 stocks

Electric & Other Services Combined Industry

5th 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

ALLETE (NYSE:ALE) Research Coverage Started at StockNews.com
Mizuho Boosts ALLETE (NYSE:ALE) Price Target to $67.00
ALLETE (NYSE:ALE) Coverage Initiated at StockNews.com
ALLETE Q1 Net Income Declines
Allete: Q1 Earnings Snapshot
ALLETE, Inc. reports first quarter 2024 earnings
Allete To Be Acquired For $6.2 Bln By CPP Investment, GIP
See More Headlines
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Company Calendar

Ex-Dividend for 3/1 Dividend
2/14/2024
Last Earnings
2/20/2024
Dividend Payable
3/01/2024
Ex-Dividend for 6/1 Dividend
5/14/2024
Today
5/25/2024
Dividend Payable
6/01/2024
Next Earnings (Estimated)
8/13/2024
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
$60.40
High Stock Price Target
$67.00
Low Stock Price Target
$54.00
Potential Upside/Downside
-4.0%
Consensus Rating
Reduce
Rating Score (0-4)
1.80
Research Coverage
5 Analysts

Profitability

Net Income
$247.10 million
Pretax Margin
12.15%

Debt

Sales & Book Value

Annual Sales
$1.88 billion
Cash Flow
$8.76 per share
Book Value
$59.20 per share

Miscellaneous

Free Float
57,446,000
Market Cap
$3.62 billion
Optionable
Optionable
Beta
0.75
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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
  • Jeffrey Scissons
    Director of Corporate Development
  • 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

Should I buy or sell ALLETE stock right now?

5 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for ALLETE in the last twelve months. There are currently 1 sell rating and 4 hold ratings 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 target for 2024?

5 brokers have issued 1-year price objectives for ALLETE's shares. Their ALE share price targets range from $54.00 to $67.00. On average, they expect the company's stock price to reach $60.40 in the next year. This suggests that the stock has a possible downside of 4.0%.
View analysts price targets for ALE
or view top-rated stocks among Wall Street analysts.

How have ALE shares performed in 2024?

ALLETE's stock was trading at $61.16 on January 1st, 2024. Since then, ALE shares have increased by 2.9% and is now trading at $62.92.
View the best growth stocks for 2024 here
.

Are investors shorting ALLETE?

ALLETE saw a decrease in short interest during the month of April. As of April 30th, there was short interest totaling 1,110,000 shares, a decrease of 9.8% from the April 15th total of 1,230,000 shares. Based on an average daily volume of 379,400 shares, the days-to-cover ratio is presently 2.9 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 Tuesday, August 13th 2024.
View our ALE earnings forecast
.

How were ALLETE's earnings last quarter?

ALLETE, Inc. (NYSE:ALE) posted its quarterly earnings results on Tuesday, February, 20th. The utilities provider reported $0.89 earnings per share for the quarter, missing analysts' consensus estimates of $0.97 by $0.08. The utilities provider earned $402.70 million during the quarter, compared to the consensus estimate of $425.21 million. ALLETE had a net margin of 13.94% and a trailing twelve-month return on equity of 7.21%. The business's revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.90 earnings per share.

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

ALLETE declared a quarterly dividend on Thursday, April 25th. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.705 per share on Saturday, June 1st. This represents a $2.82 annualized dividend and a dividend yield of 4.48%. The ex-dividend date is Tuesday, May 14th.
Read our dividend analysis for ALE
.

Is ALLETE a good dividend stock?

ALLETE (NYSE:ALE) pays an annual dividend of $2.82 per share and currently has a dividend yield of 4.51%. 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 14 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 67.79%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, ALE will have a dividend payout ratio of 70.15% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for ALE.

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 number of institutional and retail investors. Top institutional shareholders include Vanguard Group Inc. (11.49%), Deroy & Devereaux Private Investment Counsel Inc. (0.56%), Sei Investments Co. (0.54%), Principal Financial Group Inc. (0.48%), Gabelli Funds LLC (0.48%) and Invenomic Capital Management LP (0.44%).
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.

This page (NYSE:ALE) was last updated on 5/26/2024 by MarketBeat.com Staff

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