NYSE:ALE ALLETE - ALE Stock Forecast, Price & News Adding Choose a watchlist: Watchlist Adding You have already added five stocks to your watchlist. Upgrade to MarketBeat Daily Premium to add more stocks to your watchlist. Adding ALLETE, Inc. Please log in to your account or sign up in order to add this asset to your watchlist. $63.30 +2.52 (+4.15%) (As of 03/24/2023 12:00 AM ET) Add Compare Share Share Today's Range$60.89▼$63.3050-Day Range$58.65▼$65.4352-Week Range$47.77▼$68.46Volume325,916 shsAverage Volume334,411 shsMarket Capitalization$3.62 billionP/E Ratio18.62Dividend Yield4.28%Price Target$62.80 ProfileAnalyst RatingsChartCompetitorsDividendEarningsFinancialsInsider TradesInstitutional OwnershipHeadlinesOptions ChainSEC FilingsShort InterestSocial MediaSustainability ALLETE MarketRank™ ForecastAnalyst RatingHold2.00 Rating ScoreUpside/Downside0.8% Downside$62.80 Price TargetShort InterestHealthy1.78% of Shares Sold ShortDividend StrengthStrongBased on Four FactorsSustainability-1.71Upright™ Environmental ScoreNews Sentiment0.65Based on 2 Articles This WeekInsider TradingN/AProj. Earnings Growth8.65%From $3.70 to $4.02 Per ShareSee Full Details Hide Full Details Overall MarketRank™MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.2.23 out of 5 starsUtilities Sector54th out of 84 stocksElectric & Other Services Combined Industry13th out of 19 stocks 1.0 Analyst's Opinion Consensus RatingALLETE has received a consensus rating of Hold. The company's average rating score is 2.00, and is based on 1 buy rating, 3 hold ratings, and 1 sell rating.Price Target Upside/DownsideAccording to analysts' consensus price target of $62.80, ALLETE has a forecasted downside of 0.8% from its current price of $63.30.Amount of Analyst CoverageALLETE has only been the subject of 3 research reports in the past 90 days. Previous Next 3.0 Short Interest Percentage of Shares Shorted1.78% of the outstanding shares of ALLETE have been sold short.Short Interest Ratio / Days to CoverALLETE has a short interest ratio ("days to cover") of 3.1, which is generally considered an acceptable ratio of short interest to trading volume.Change versus previous monthShort interest in ALLETE has recently increased by 9.14%, indicating that investor sentiment is decreasing significantly. Previous Next 4.2 Dividend Strength Dividend LeadershipALLETE is a leading dividend payer. It pays a dividend yield of 4.46%, putting its dividend yield in the top 25% of dividend-paying stocks.Dividend GrowthALLETE has been increasing its dividend for 13 years.Dividend CoverageThe dividend payout ratio of ALLETE is 79.71%. Payout ratios above 75% are not desirable because they may not be sustainable.Dividend SustainabilityBased on earnings estimates, ALLETE will have a dividend payout ratio of 67.41% next year. This indicates that ALLETE will be able to sustain or increase its dividend. Previous Next 2.9 Sustainability and ESG Overall ESG (Environmental, Social, and Governance) ScoreALLETE has received a 25.74% net impact score from Upright. The largest positive contribution comes from its "Societal infrastructure" impact, which is mostly driven by its "Retailing electricity produced with wind power", "Construction of solar power plants", "Natural gas distribution services", "Electricity produced with coal", and "Electricity produced with wind power" products. See details.Environmental SustainabilityThe Environmental Impact score for ALLETE is -1.71. Previous Next 2.6 News and Social Media Coverage News SentimentALLETE has a news sentiment score of 0.65. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.53 average news sentiment score of Utilities companies.News Coverage This WeekMarketBeat has tracked 2 news articles for ALLETE this week, compared to 2 articles on an average week.Search Interest6 people have searched for ALE on MarketBeat in the last 30 days. This is an increase of 20% compared to the previous 30 days.MarketBeat FollowsOnly 5 people have added ALLETE to their MarketBeat watchlist in the last 30 days. This is a decrease of 0% compared to the previous 30 days. Previous Next 1.7 Company Ownership Insider Buying vs. Insider SellingIn the past three months, ALLETE insiders have not sold or bought any company stock.Percentage Held by InsidersOnly 0.23% of the stock of ALLETE is held by insiders.Percentage Held by Institutions77.52% of the stock of ALLETE is held by institutions. High institutional ownership can be a signal of strong market trust in this company. Previous Next 2.5 Earnings and Valuation Earnings GrowthEarnings for ALLETE are expected to grow by 8.65% in the coming year, from $3.70 to $4.02 per share.Price to Earnings Ratio vs. the MarketThe P/E ratio of ALLETE is 18.62, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 117.25.Price to Earnings Ratio vs. SectorThe P/E ratio of ALLETE is 18.62, which means that it is trading at a less expensive P/E ratio than the Utilities sector average P/E ratio of about 104.93.Price to Earnings Growth RatioALLETE has a PEG Ratio of 2.26. PEG Ratios above 1 indicate that a company could be overvalued.Price to Book Value per Share RatioALLETE has a P/B Ratio of 1.08. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities. Previous Next See Top Rated MarketRank™ Stocks Here About ALLETE (NYSE:ALE) StockALLETE, Inc. engages in the provision of electric and natural gas utility services. It operates through the following business segments: Regulated Operations, ALLETE Clean Energy, and Corporate and Other. The Regulated Operations segment includes regulated utilities, Minnesota Power, SWL&P, and investment in ATC, which regulates utilities that own and maintain electric transmission assets. The ALLETE Clean Energy segment develops, acquires, and operates clean and renewable energy projects. The Corporate and Other segment includes New Energy, South Shore Energy, BNI Energy, ALLETE Properties, a small amount of non-rate base generation, land holdings, and earnings on cash and investments. The company was founded on January 25, 1906 and is headquartered in Duluth, MN.Read More Receive ALE Stock News and Ratings via Email Sign-up to receive the latest news and ratings for ALLETE and its competitors with MarketBeat's FREE daily newsletter. Email Address ALE Stock News HeadlinesMarch 17, 2023 | americanbankingnews.comALLETE (NYSE:ALE) Receives New Coverage from Analysts at StockNews.comMarch 8, 2023 | finance.yahoo.comALLETE (NYSE:ALE) shareholders have endured a 1.2% loss from investing in the stock three years agoMarch 26, 2023 | Legacy Research (Affiliate) (Ad)"Prepare for Five Years of Famine"Market Wizard who predicted all indexes would be negative in 2022 shares shocking new forecastFebruary 18, 2023 | finance.yahoo.comALLETE Full Year 2022 Earnings: Revenues Beat Expectations, EPS LagsFebruary 16, 2023 | businesswire.comALLETE, Inc. Reports 2022 Earnings of $3.38 Per Share; Initiates 2023 Earnings Guidance Range of $3.55 to $3.85 Per ShareFebruary 13, 2023 | markets.businessinsider.comJ.P. Morgan Keeps Their Hold Rating on Allete (ALE)February 6, 2023 | finance.yahoo.comALLETE (NYSE:ALE) Has Announced That It Will Be Increasing Its Dividend To $0.6775February 2, 2023 | finance.yahoo.comALE or WEC: Which Is the Better Value Stock Right Now?March 26, 2023 | Legacy Research (Affiliate) (Ad)"Prepare for Five Years of Famine"Market Wizard who predicted all indexes would be negative in 2022 shares shocking new forecastJanuary 31, 2023 | finance.yahoo.comAfter Plunging -6.45% in 4 Weeks, Here's Why the Trend Might Reverse for Allete (ALE)January 31, 2023 | benzinga.comALLETE, Grid United join forces to develop key transmission link to enhance reliability of the nation's electric gridJanuary 26, 2023 | finance.yahoo.comALLETE, Inc.'s (NYSE:ALE) Stock Financial Prospects Look Bleak: Should Shareholders Be Prepared For A Share Price Correction?January 24, 2023 | finance.yahoo.comMinnesota Public Utilities Commission Sets New Rates for Minnesota PowerJanuary 19, 2023 | finance.yahoo.comALLETE to announce 2022 financial results on Feb. 16December 22, 2022 | finance.yahoo.comCalculating The Fair Value Of ALLETE, Inc. (NYSE:ALE)December 5, 2022 | finance.yahoo.comALE vs. HE: Which Stock Should Value Investors Buy Now?November 29, 2022 | finance.yahoo.comAllete (ALE) Is Up 2.97% in One Week: What You Should KnowNovember 21, 2022 | finance.yahoo.comAn excellent week for ALLETE, Inc.'s (NYSE:ALE) institutional owners who own 79% as one-year returns inch higherNovember 17, 2022 | finance.yahoo.comALE or HE: Which Is the Better Value Stock Right Now?November 9, 2022 | markets.businessinsider.comAllete Q3 Earnings Miss Estimates; Maintains FY22 OutlookNovember 9, 2022 | finance.yahoo.comALLETE, Inc. Reports Third Quarter Earnings; Expects 2022 Earnings Near Mid-Point of $3.60 - $3.90 Per Share RangeNovember 8, 2022 | finance.yahoo.comMinnesota Power Advances Clean-Energy Future by Increasing Targets for Renewable Energy Resources Under Its EnergyForward PlanOctober 11, 2022 | nasdaq.com3 Stocks for Higher Returns as New Analysts Initiate Coverage - NasdaqOctober 7, 2022 | benzinga.comALLETE to announce third quarter financial results Nov. 9 - ALLETE (NYSE:ALE) - BenzingaOctober 7, 2022 | finance.yahoo.comALLETE to announce third quarter financial results Nov. 9October 6, 2022 | nasdaq.comALLETE, Inc. (NYSE:ALE) is largely controlled by institutional shareholders who own 78% of the companyOctober 3, 2022 | nasdaq.comWhy Allete (ALE) is a Great Dividend Stock Right Now - NasdaqSee More Headlines View Price History Chart DataSkip Price History Chart 30 days | 90 days | 365 days | Advanced Chart Receive ALE Stock News and Ratings via Email Sign-up to receive the latest news and ratings for ALLETE and its competitors with MarketBeat's FREE daily newsletter. Email Address ALE Company Calendar Ex-Dividend for 3/1 Dividend2/14/2023Last Earnings2/16/2023Dividend Payable3/01/2023Today3/26/2023Next Earnings (Estimated)5/04/2023Fiscal Year End12/31/2023Get Stock AlertsIndustry, Sector and Symbol Stock ExchangeNYSE Industry Electric & other services combined Sub-IndustryElectric Utilities SectorUtilities Current SymbolNYSE:ALE CUSIP01852230 CIK66756 Webwww.allete.com Phone(218) 279-5000Fax218-723-3944Employees1,494Year Founded2015Price Target and Rating Average Stock Price Forecast$62.80 High Stock Price Forecast$66.00 Low Stock Price Forecast$54.00 Forecasted Upside/Downside-0.8%Consensus RatingHold Rating Score (0-4)2.00 Research Coverage5 Analysts Profitability EPS (Most Recent Fiscal Year)$3.40 Trailing P/E Ratio18.62 Forward P/E Ratio17.11 P/E Growth2.26Net Income$189.30 million Net Margins12.05% Pretax Margin6.37% Return on Equity5.73% Return on Assets2.79% Debt Debt-to-Equity Ratio0.49 Current Ratio1.00 Quick Ratio0.37 Sales & Book Value Annual Sales$1.57 billion Price / Sales2.31 Cash Flow$7.87 per share Price / Cash Flow8.04 Book Value$58.58 per share Price / Book1.08Miscellaneous Outstanding Shares57,250,000Free Float57,121,000Market Cap$3.62 billion OptionableOptionable Beta0.72 Key ExecutivesBethany M. OwenChairman, President & Chief Executive OfficerJoshua KunkelCo-PresidentDean EastlakeChief Operating OfficerSteven W. MorrisSenior VP, Chief Financial & Accounting OfficerPatrick L. CutshallTreasurer & Vice PresidentKey CompetitorsUnitilNYSE:UTLNorthWesternNASDAQ:NWEAvistaNYSE:AVANiSourceNYSE:NIAlliant EnergyNASDAQ:LNTView All CompetitorsInstitutional OwnershipVoya Investment Management LLCSold 30,547 shares on 2/28/2023Ownership: 0.101%Teachers Retirement System of The State of KentuckyBought 1,400 shares on 2/22/2023Ownership: 0.049%Macquarie Group Ltd.Bought 143,677 shares on 2/21/2023Ownership: 2.318%Northwestern Mutual Investment Management Company LLCSold 2,953 shares on 2/21/2023Ownership: 0.009%Northwestern Mutual Wealth Management Co.Bought 645 shares on 2/21/2023Ownership: 0.001%View All Institutional Transactions ALE Stock - 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, 3 hold ratings and 1 buy rating 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 2023? 5 brokers have issued twelve-month target prices for ALLETE's stock. Their ALE share price forecasts range from $54.00 to $66.00. On average, they predict the company's share price to reach $62.80 in the next year. This suggests that the stock has a possible downside of 0.8%. 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 the year. Since then, ALE shares have decreased by 1.9% and is now trading at $63.30. View the best growth stocks for 2023 here. Are investors shorting ALLETE? ALLETE saw a increase in short interest in February. As of February 28th, there was short interest totaling 1,020,000 shares, an increase of 9.1% from the February 13th total of 934,600 shares. Based on an average daily trading volume, of 324,700 shares, the days-to-cover ratio is presently 3.1 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, May 4th 2023. View our ALE earnings forecast. How were ALLETE's earnings last quarter? ALLETE, Inc. (NYSE:ALE) posted its quarterly earnings results on Thursday, February, 16th. The utilities provider reported $0.90 EPS for the quarter, missing the consensus estimate of $1.11 by $0.21. The utilities provider had revenue of $425.80 million for the quarter, compared to analysts' expectations of $404.81 million. ALLETE had a net margin of 12.05% and a trailing twelve-month return on equity of 5.73%. The business's quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.18 earnings per share. How often does ALLETE pay dividends? What is the dividend yield for ALLETE? ALLETE announced a quarterly dividend on Friday, February 3rd. Investors of record on Wednesday, February 15th will be given a dividend of $0.678 per share on Wednesday, March 1st. This represents a $2.71 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date of this dividend is Tuesday, February 14th. This is a positive change from the stock's previous quarterly dividend of $0.65. Read our dividend analysis for ALE. What ETFs hold ALLETE's stock? ETFs with the largest weight of ALLETE (NYSE:ALE) stock in their portfolio include SPDR S&P Kensho Clean Power ETF (CNRG), Invesco High Yield Equity Dividend Achievers ETF (PEY), KFA Value Line Dynamic Core Equity Index ETF (KVLE), Invesco S&P MidCap Low Volatility ETF (XMLV), VictoryShares US Small Cap High Div Volatility Wtd ETF (CSB), Global X Alternative Income ETF (ALTY), InfraCap Equity Income Fund ETF (ICAP) and ProShares Russell 2000 Dividend Growers ETF (SMDV). 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 4.46%. 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 79.71%. 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 67.41% 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 2023 earnings guidance on Monday, February, 20th. The company provided earnings per share guidance of $3.55-$3.85 for the period, compared to the consensus EPS estimate of $3.84. 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 a variety of retail and institutional investors. Top institutional investors include Victory Capital Management Inc. (2.92%), Victory Capital Management Inc. (2.91%), ATLAS Infrastructure Partners UK Ltd. (2.64%), Macquarie Group Ltd. (2.32%), First Trust Advisors LP (2.27%) and Geode Capital Management LLC (1.85%). 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 $63.30. How much money does ALLETE make? ALLETE (NYSE:ALE) has a market capitalization of $3.62 billion and generates $1.57 billion in revenue each year. The utilities provider earns $189.30 million in net income (profit) each year or $3.40 on an earnings per share basis. How many employees does ALLETE have? The company employs 1,494 workers across the globe. 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, via email at arutledge@allete.com, or via fax at 218-723-3944. This page (NYSE:ALE) was last updated on 3/26/2023 by MarketBeat.com Staff Get 30 Days of MarketBeat All Access Free Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools: Best-in-Class Portfolio Monitoring View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. Stock Ideas and Recommendations Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat's trending stocks report. Advanced Stock Screeners and Research Tools Identify stocks that meet your criteria using seven unique stock screeners. See what's happening in the market right now with MarketBeat's real-time news feed. Export data to Excel for your own analysis. 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