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NYSE:ALEALLETE Stock Price, Forecast & News

$60.57
-0.52 (-0.85 %)
(As of 06/5/2020 09:36 AM ET)
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Compare
Today's Range
$59.00
Now: $60.57
$60.66
50-Day Range
$49.60
MA: $55.83
$61.40
52-Week Range
$48.22
Now: $60.57
$88.60
Volume300,728 shs
Average Volume474,872 shs
Market Capitalization$3.14 billion
P/E Ratio17.31
Dividend Yield4.04%
Beta0.35
ALLETE, Inc. operates as an energy company. The company operates through three segments: Regulated Operations, ALLETE Clean Energy, and U.S. Water Services. It generates electricity from coal-fired, wind, hydroelectric, natural gas-fired, biomass co-fired, solar, and other sources. The company provides regulated utility electric, natural gas, and water 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 145,000 retail customers and 16 non-affiliated municipal customers. It also owns and maintains electric transmission assets in Wisconsin, Michigan, Minnesota, and Illinois. In addition, the company focuses on developing, acquiring, and operating clean and renewable energy projects; and owns and operates approximately 545 megawatt of wind energy generation. Further, it offers integrated water management for industry by combining chemical, equipment, engineering, and service for customized solutions to reduce water and energy usage. Additionally, the company is involved in the coal mining operations in North Dakota; and real estate investment activities in Florida. The company owns and operates 159 substations with a total capacity of 8,531 megavolt amperes. It serves taconite mining, iron concentrate, paper, pulp and wood products, pipeline, and other industries. The company was founded in 1906 and is headquartered in Duluth, Minnesota.
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ALLETE logo

Beat the Market (BTM) Rank

Analyst Opinion: 1.0Community Rank: 2.1Dividend Strength: 4.2Insider Behavior: 1.0Valuation: 1.3 5 -4 -3 -2 -1 -

Overall Beat the Market Rank

1.90 out of 5 stars


Industry, Sector and Symbol

Industry Electric & other services combined
Sub-IndustryElectric Utilities
SectorUtilities
CUSIP01852230
Phone218-279-5000

Debt

Price-To-Earnings

Sales & Book Value

Annual Sales$1.24 billion
Cash Flow$7.18 per share
Book Value$45.20 per share

Profitability

Net Income$185.60 million

Miscellaneous

Employees1,339
Market Cap$3.14 billion
Next Earnings Date8/6/2020 (Estimated)
OptionableOptionable

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ALLETE (NYSE:ALE) Frequently Asked Questions

How has ALLETE's stock been impacted by COVID-19 (Coronavirus)?

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 shares have decreased by 12.9% and is now trading at $60.57. View which stocks have been most impacted by Coronavirus.

Do Wall Street analysts recommend investors buy shares of ALLETE?

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." View analyst ratings for ALLETE.

When is ALLETE's next earnings date?

ALLETE is scheduled to release its next quarterly earnings announcement on Thursday, August 6th 2020. View our earnings forecast for ALLETE.

How were ALLETE's earnings last quarter?

ALLETE Inc (NYSE:ALE) released its earnings results on Wednesday, May, 6th. The utilities provider reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.14. The utilities provider had revenue of $311.60 million for the quarter, compared to the consensus estimate of $330.75 million. ALLETE had a return on equity of 7.86% and a net margin of 15.18%. The business's quarterly revenue was down 12.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.18 EPS. View ALLETE's earnings history.

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

ALLETE declared a quarterly dividend on Monday, February 3rd. Investors of record on Friday, February 14th will be paid a dividend of $0.6175 per share on Sunday, March 1st. This represents a $2.47 annualized dividend and a yield of 4.08%. The ex-dividend date of this dividend is Thursday, February 13th. This is a positive change from ALLETE's previous quarterly dividend of $0.59. View ALLETE's dividend history.

What price target have analysts set for ALE?

5 Wall Street analysts have issued 1 year price objectives for ALLETE's stock. Their forecasts range from $57.00 to $74.00. On average, they expect ALLETE's stock price to reach $64.00 in the next twelve months. This suggests a possible upside of 5.7% from the stock's current price. View analysts' price targets for ALLETE.

Has ALLETE been receiving favorable news coverage?

News coverage about ALE stock has trended very negative this week, according to InfoTrie Sentiment Analysis. The research firm identifies positive and negative news coverage by monitoring more than six thousand blog and news sources in real-time. The firm ranks coverage of publicly-traded companies on a scale of negative five to positive five, with scores nearest to five being the most favorable. ALLETE earned a media sentiment score of -3.2 on InfoTrie's scale. They also assigned news coverage about the utilities provider a news buzz of 0.0 out of 10, meaning that recent news coverage is extremely unlikely to have an effect on the company's share price in the immediate future. View the latest news aboutALLETE.

Are investors shorting ALLETE?

ALLETE saw a increase in short interest during the month of May. As of May 15th, there was short interest totaling 937,200 shares, an increase of 7.0% from the April 30th total of 875,700 shares. Based on an average daily volume of 427,000 shares, the days-to-cover ratio is presently 2.2 days. Approximately 1.8% of the company's shares are short sold. View ALLETE's Current Options Chain.

Who are some of ALLETE's key competitors?

What other stocks do shareholders of ALLETE own?

Based on aggregate information from My MarketBeat watchlists, some companies that other ALLETE investors own include Hawkins (HWKN), Ameren (AEE), AT&T (T), United Parcel Service (UPS), Verizon Communications (VZ), BlackRock (BLK), TC Pipelines (TCP), AbbVie (ABBV), Starbucks (SBUX) and Activision Blizzard (ATVI).

Who are ALLETE's key executives?

ALLETE's management team includes the following people:
  • Mr. Alan R. Hodnik, Chairman & CEO (Age 59)
  • Ms. Bethany M. Owen, Pres & Director (Age 53)
  • Mr. Robert J. Adams, Sr. VP & CFO (Age 56)
  • Mr. Bradley W. Oachs, Sr. VP & Pres of Regulated Operations (Age 61)
  • Mr. Patrick K. Mullen, Sr. VP of External Affairs (Age 58)

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 number of institutional and retail investors. Top institutional investors include BlackRock Inc. (11.88%), State Street Corp (3.69%), Principal Financial Group Inc. (2.73%), Victory Capital Management Inc. (2.39%), Victory Capital Management Inc. (2.38%) and Geode Capital Management LLC (1.60%). Company insiders that own ALLETE stock include Alan R Hodnik, James J Hoolihan, Kathryn W Dindo, Madeleine W Ludlow and Robert John Adams. View institutional ownership trends for ALLETE.

Which institutional investors are selling ALLETE stock?

ALE stock was sold by a variety of institutional investors in the last quarter, including BlackRock Inc., Pictet Asset Management Ltd., Wellington Management Group LLP, AQR Capital Management LLC, Waddell & Reed Financial Inc., UBS Group AG, Morgan Stanley, and Morgan Stanley. 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.

Which institutional investors are buying ALLETE stock?

ALE stock was purchased by a variety of institutional investors in the last quarter, including Wells Fargo & Company MN, Principal Financial Group Inc., Channing Capital Management LLC, Massachusetts Financial Services Co. MA, Moody Aldrich Partners LLC, Geode Capital Management LLC, State Street Corp, and OLD Republic International Corp. View insider buying and selling activity for ALLETE.

How do I buy shares of 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.

What is ALLETE's stock price today?

One share of ALE stock can currently be purchased for approximately $60.57.

How big of a company is ALLETE?

ALLETE has a market capitalization of $3.14 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.

What is ALLETE's official website?

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

How can I contact ALLETE?

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

This page was last updated on 6/5/2020 by MarketBeat.com Staff

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