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NYSE:ALE

ALLETE (ALE) Stock Price, News & Analysis

$63.48
+0.08 (+0.13%)
(As of 09/6/2024 08:48 PM ET)
Today's Range
$63.25
$63.62
50-Day Range
$61.67
$64.65
52-Week Range
$49.29
$65.86
Volume
210,100 shs
Average Volume
384,214 shs
Market Capitalization
$3.67 billion
P/E Ratio
15.26
Dividend Yield
4.44%
Price Target
$62.00

ALLETE MarketRank™ Stock Analysis

Analyst Rating
Hold
2.00 Rating Score
Upside/​Downside
2.3% Downside
$62.00 Price Target
Short Interest
Healthy
1.84% of Shares Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
-1.71
Upright™ Environmental Score
News Sentiment
0.91mentions of ALLETE in the last 14 days
Based on 4 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
N/A

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.

3.78 out of 5 stars

Utilities Sector

41st out of 93 stocks

Electric & Other Services Combined Industry

12th 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) Now Covered by StockNews.com
Unveiled: NVIDIA’s "Secret Royalty" Program
Did you know that there's an investment that will give you the opportunity to collect "royalties" every time Nvidia makes a chip?
ALLETE, Inc. reports second quarter 2024 earnings
ALLETE Q2 2024 Earnings Preview
Unveiled: NVIDIA’s "Secret Royalty" Program
Did you know that there's an investment that will give you the opportunity to collect "royalties" every time Nvidia makes a chip?
Allete, Inc.: BlackRock's Backdoor Takeover
See More Headlines
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Company Calendar

Last Earnings
8/01/2024
Ex-Dividend for 9/1 Dividend
8/15/2024
Dividend Payable
9/01/2024
Today
9/08/2024
Next Earnings (Estimated)
11/07/2024
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
-2.3%
Consensus Rating
Hold
Rating Score (0-4)
2.00
Research Coverage
4 Analysts

Profitability

Net Income
$247.10 million
Pretax Margin
12.31%

Debt

Sales & Book Value

Annual Sales
$1.54 billion
Cash Flow
$8.70 per share
Book Value
$58.78 per share

Miscellaneous

Free Float
57,621,000
Market Cap
$3.67 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 at the beginning of the year. Since then, ALE shares have increased by 3.8% and is now trading at $63.48.
View the best growth stocks for 2024 here
.

How were ALLETE's earnings last quarter?

ALLETE, Inc. (NYSE:ALE) issued its quarterly earnings data on Thursday, August, 1st. The utilities provider reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.87 by $0.30. The firm's revenue was down 33.6% on a year-over-year basis.

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 shareholders of ALLETE include Dimensional Fund Advisors LP (1.67%), Millennium Management LLC (1.55%), Bank of New York Mellon Corp (1.49%) and Gabelli Funds LLC (0.76%).
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 9/9/2024 by MarketBeat.com Staff

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