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 12 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 share price to reach $60.83 in the next twelve months. This suggests a possible upside of 9.7% 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 the year. Since then, ALE shares have decreased by 14.1% and is now trading at $55.44.
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ALLETE saw a increase in short interest in August. As of August 31st, there was short interest totaling 782,100 shares, an increase of 10.3% from the August 15th total of 709,300 shares. Based on an average daily trading volume, of 281,700 shares, the days-to-cover ratio is currently 2.8 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 data on Tuesday, August, 8th. The utilities provider reported $0.90 earnings per share for the quarter, beating analysts' consensus estimates of $0.78 by $0.12. The utilities provider had revenue of $533.40 million for the quarter, compared to analysts' expectations of $446.41 million. ALLETE had a net margin of 10.20% and a trailing twelve-month return on equity of 5.81%. The firm's revenue for the quarter was up 43.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.67 EPS.

ALLETE announced a quarterly dividend on Monday, July 31st. Stockholders of record on Tuesday, August 15th will be given 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 4.89%. The ex-dividend date 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 S&P 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 ETF (VTWV) and Vanguard Utilities Index Fund (VPU).

ALLETE (NYSE:ALE) pays an annual dividend of $2.71 per share and currently has a dividend yield of 4.88%. 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 earnings per share 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."

ALLETE's stock is owned by a number of institutional and retail investors. Top institutional shareholders include BlackRock Inc. (12.61%), State Street Corp (3.95%), Victory Capital Management Inc. (3.81%), Geode Capital Management LLC (2.02%), Bank of New York Mellon Corp (1.38%) and Dimensional Fund Advisors LP (1.37%).
View institutional ownership trends.

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 $55.44.

ALLETE (NYSE:ALE) has a market capitalization of $3.18 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.