ALLETE Stock Forecast, Price & News

ALLETE's stock was trading at $69.55 on March 11th, 2020 when COVID-19 (Coronavirus) reached pandemic status according to the World Health Organization. Since then, ALE stock has decreased by 23.2% and is now trading at $53.41.
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5 Wall Street analysts have issued "buy," "hold," and "sell" ratings for ALLETE in the last year. There are currently 1 sell rating, 3 hold ratings and 1 buy rating for the stock, resulting in a consensus recommendation of "Hold."
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ALLETE is scheduled to release its next quarterly earnings announcement on Wednesday, November 4th 2020.
View our earnings forecast for ALLETE.

ALLETE Inc (NYSE:ALE) announced its quarterly earnings results on Wednesday, August, 5th. The utilities provider reported $0.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.65 by $0.26. The utilities provider had revenue of $243.20 million for the quarter, compared to the consensus estimate of $290.75 million. ALLETE had a net margin of 14.58% and a return on equity of 7.07%. ALLETE's quarterly revenue was down 16.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.66 EPS.
View ALLETE's earnings history.

ALLETE announced a quarterly dividend on Friday, July 31st. Investors of record on Friday, August 14th will be paid a dividend of $0.6175 per share on Tuesday, September 1st. This represents a $2.47 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date of this dividend is Thursday, August 13th.
View ALLETE's dividend history.

ALLETE issued an update on its FY20 earnings guidance on Wednesday, August, 5th. The company provided earnings per share (EPS) guidance of $3.25-3.45 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.28.

5 equities research analysts have issued 12 month price targets for ALLETE's stock. Their forecasts range from $55.00 to $64.00. On average, they expect ALLETE's stock price to reach $59.25 in the next year. This suggests a possible upside of 10.9% from the stock's current price.
View analysts' price targets for ALLETE.

ALLETE saw a drop in short interest during the month of August. As of August 31st, there was short interest totaling 633,700 shares, a drop of 14.6% from the August 15th total of 742,200 shares. Based on an average daily trading volume, of 319,800 shares, the short-interest ratio is presently 2.0 days.
View ALLETE's Short Interest.

Some companies that are related to ALLETE include NextEra Energy (NEE), Duke Energy (DUK), Southern (SO), American Electric Power (AEP), Xcel Energy (XEL), Exelon (EXC), Eversource Energy (ES), PPL (PPL), Edison International (EIX), Entergy (ETR), FirstEnergy (FE), Pinnacle West Capital (PNW), OGE Energy (OGE), IDACORP (IDA) and Hawaiian Electric Industries (HE).
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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 IBM (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 investors include Vanguard Group Inc. (10.32%), Principal Financial Group Inc. (2.76%), Principal Financial Group Inc. (2.75%), Goldman Sachs Group Inc. (2.19%), Victory Capital Management Inc. (2.10%) and First Trust Advisors LP (1.76%). Company insiders that own ALLETE stock include Alan R Hodnik, Kathryn W Dindo, Madeleine W Ludlow and Robert John Adams.
View institutional ownership trends for ALLETE.

ALE stock was sold by a variety of institutional investors in the last quarter, including AQR Capital Management LLC, Prudential Financial Inc., Vanguard Group Inc., Victory Capital Management Inc., FMR LLC, Goldman Sachs Group Inc., New York State Common Retirement Fund, and TD Asset Management Inc.. Company insiders that have sold ALLETE company stock in the last year include Alan R Hodnik, Madeleine W Ludlow, and Robert John Adams.
View insider buying and selling activity for ALLETE.

ALE stock was acquired by a variety of institutional investors in the last quarter, including First Trust Advisors LP, Cubist Systematic Strategies LLC, Moody Aldrich Partners LLC, Bank of America Corp DE, Miller Howard Investments Inc. NY, Brandes Investment Partners LP, Aigen Investment Management LP, and Two Sigma Advisers LP.
View insider buying and selling activity for ALLETE.

Shares of ALE can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.

One share of ALE stock can currently be purchased for approximately $53.41.

ALLETE has a market capitalization of $2.77 billion and generates $1.24 billion in revenue each year. The utilities provider earns $185.60 million in net income (profit) each year or $3.33 on an earnings per share basis. ALLETE employs 1,339 workers across the globe.

The official website for ALLETE is www.allete.com.

ALLETE's mailing address is 30 W SUPERIOR STREET, DULUTH MN, 55802. The utilities provider can be reached via phone at 218-279-5000.