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S&P 500   4,071.70
DOW   34,429.88
QQQ   292.55
Today Only: Get a 4K Camera Drone for Just $80
🚨 [Strong Buy Alert] Is this laser stock in your portfolio? (Ad)
Why CSL Ltd Stock Could Be Worth a Look
MarketBeat: Week in Review 11/28 – 12/02
The Small Biotech Scaring Big Pharma (Ad)
Estonia to buy US rocket artillery system in $200M deal
Rail workers say deal won't resolve quality-of-life concerns
The single greatest medical breakthrough of all time? (Ad)
Russia rejects $60-a-barrel cap on its oil, warns of cutoffs
Molten lava on Hawaii's Big Island could block main highway
S&P 500   4,071.70
DOW   34,429.88
QQQ   292.55
Today Only: Get a 4K Camera Drone for Just $80
🚨 [Strong Buy Alert] Is this laser stock in your portfolio? (Ad)
Why CSL Ltd Stock Could Be Worth a Look
MarketBeat: Week in Review 11/28 – 12/02
The Small Biotech Scaring Big Pharma (Ad)
Estonia to buy US rocket artillery system in $200M deal
Rail workers say deal won't resolve quality-of-life concerns
The single greatest medical breakthrough of all time? (Ad)
Russia rejects $60-a-barrel cap on its oil, warns of cutoffs
Molten lava on Hawaii's Big Island could block main highway
S&P 500   4,071.70
DOW   34,429.88
QQQ   292.55
Today Only: Get a 4K Camera Drone for Just $80
🚨 [Strong Buy Alert] Is this laser stock in your portfolio? (Ad)
Why CSL Ltd Stock Could Be Worth a Look
MarketBeat: Week in Review 11/28 – 12/02
The Small Biotech Scaring Big Pharma (Ad)
Estonia to buy US rocket artillery system in $200M deal
Rail workers say deal won't resolve quality-of-life concerns
The single greatest medical breakthrough of all time? (Ad)
Russia rejects $60-a-barrel cap on its oil, warns of cutoffs
Molten lava on Hawaii's Big Island could block main highway
NYSE:ALE

ALLETE - ALE Stock Forecast, Price & News

$65.90
-0.09 (-0.14%)
(As of 12/2/2022 12:00 AM ET)
Add
Compare
Today's Range
$65.03
$66.57
50-Day Range
$48.18
$66.93
52-Week Range
$47.77
$68.61
Volume
261,310 shs
Average Volume
373,835 shs
Market Capitalization
$3.77 billion
P/E Ratio
17.91
Dividend Yield
3.94%
Price Target
$58.00

ALLETE MarketRank™ Forecast

Analyst Rating
Hold
2.25 Rating Score
Upside/​Downside
12.0% Downside
$58.00 Price Target
Short Interest
Healthy
1.64% of Shares Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
-1.71
Upright™ Environmental Score
News Sentiment
0.31mentions of ALLETE in the last 14 days
Based on 2 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
7.47%
From $3.75 to $4.03 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.48 out of 5 stars

Utilities Sector

26th out of 89 stocks

Electric & Other Services Combined Industry

5th out of 18 stocks

ALE stock logo

About ALLETE (NYSE:ALE) Stock

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. 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 145,000 retail customers and 15 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 1,000 megawatts of wind energy generation facility. Further, it is involved in the coal mining operations in North Dakota; and real estate investment activities in Florida. The company owns and operates 158 substations with a total capacity of 10,066 megavolt amperes. It 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.

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ALE Stock News Headlines

Allete (ALE) Is Up 2.97% in One Week: What You Should Know
Brokerages Set ALLETE, Inc. (NYSE:ALE) PT at $58.00
ALLETE (NYSE:ALE) Upgraded to "Hold" at StockNews.com
ALE or HE: Which Is the Better Value Stock Right Now?
Allete Q3 Earnings Miss Estimates; Maintains FY22 Outlook
Why Allete (ALE) is a Great Dividend Stock Right Now
Implied UPW Analyst Target Price: $78 - Nasdaq
See More Headlines
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ALE Company Calendar

Last Earnings
11/04/2021
Ex-Dividend for 12/1 Dividend
11/14/2022
Dividend Payable
12/01/2022
Today
12/03/2022
Fiscal Year End
12/31/2022
Next Earnings (Estimated)
2/15/2023

Industry, Sector and Symbol

Industry
Electric & other services combined
Sub-Industry
Electric Utilities
Sector
Utilities
CUSIP
01852230
Employees
1,365
Year Founded
2015

Price Target and Rating

Average Stock Price Forecast
$58.00
High Stock Price Forecast
$66.00
Low Stock Price Forecast
$50.00
Forecasted Upside/Downside
-12.0%
Consensus Rating
Hold
Rating Score (0-4)
2.25
Research Coverage
4 Analysts

Profitability

Net Income
$169.20 million
Pretax Margin
7.49%

Debt

Sales & Book Value

Annual Sales
$1.42 billion
Cash Flow
$7.58 per share
Book Value
$58.67 per share

Miscellaneous

Free Float
57,031,000
Market Cap
$3.77 billion
Optionable
Optionable
Beta
0.75

Key Executives

  • Ms. Bethany M. Owen (Age 56)
    Chairman & CEO
    Comp: $1.44M
  • Mr. Steven Wayne Morris (Age 60)
    Sr. VP & CFO
    Comp: $520.73k
  • Ms. Margaret A. Thickens (Age 55)
    VP, Chief Legal Officer & Corp. Sec.
    Comp: $551.85k
  • Mr. Josh Kunkel
    Pres
  • Mr. Vincent J. Meyer
    VP of Investor Relations
  • Jeffrey Scissons
    Director of Corp. Devel.
  • Mr. Patrick L. Cutshall C.F.A. (Age 57)
    CPA, CPA, CFA, VP & Corp. Treasurer
  • Mr. Rob Sandstrom
    Pres of Superior Water, Light & Power
  • Mr. Matthew Hankey
    Pres & CEO of New Energy Equity
  • Mr. Frank Frederickson
    VP of Customer Experience- Minnesota Power













ALE Stock - Frequently Asked Questions

Should I buy or sell ALLETE stock right now?

4 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for ALLETE in the last twelve months. There are currently 3 hold ratings and 1 buy rating for the stock. The consensus among Wall Street 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?

4 Wall Street analysts have issued 1-year price targets for ALLETE's stock. Their ALE share price forecasts range from $50.00 to $66.00. On average, they expect the company's stock price to reach $58.00 in the next twelve months. This suggests that the stock has a possible downside of 12.0%.
View analysts price targets for ALE
or view top-rated stocks among Wall Street analysts.

How have ALE shares performed in 2022?

ALLETE's stock was trading at $66.35 at the start of the year. Since then, ALE stock has decreased by 0.7% and is now trading at $65.90.
View the best growth stocks for 2022 here
.

Are investors shorting ALLETE?

ALLETE saw a decrease in short interest in the month of November. As of November 15th, there was short interest totaling 935,300 shares, a decrease of 22.7% from the October 31st total of 1,210,000 shares. Based on an average trading volume of 355,000 shares, the days-to-cover ratio is currently 2.6 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 Wednesday, February 15th 2023.
View our ALE earnings forecast
.

How were ALLETE's earnings last quarter?

ALLETE, Inc. (NYSE:ALE) released its quarterly earnings results on Thursday, November, 4th. The utilities provider reported $0.53 earnings per share for the quarter, missing analysts' consensus estimates of $0.71 by $0.18. The utilities provider had revenue of $345.70 million for the quarter, compared to the consensus estimate of $300.20 million. ALLETE had a net margin of 12.92% and a trailing twelve-month return on equity of 6.23%. The business's revenue for the quarter was up 17.6% on a year-over-year basis. During the same period last year, the business earned $0.78 EPS.

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

ALLETE announced a quarterly dividend on Friday, October 28th. Shareholders of record on Tuesday, November 15th will be given a dividend of $0.65 per share on Thursday, December 1st. This represents a $2.60 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend is Monday, November 14th.
Read our dividend analysis for ALE
.

Is ALLETE a good dividend stock?

ALLETE (NYSE:ALE) pays an annual dividend of $2.60 per share and currently has a dividend yield of 3.94%. The company has been increasing its dividend for 11 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 70.65%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, ALE will have a dividend payout ratio of 64.52% 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 2022 earnings guidance on Wednesday, November, 9th. The company provided earnings per share (EPS) guidance of $3.60-$3.90 for the period, compared to the consensus EPS estimate of $3.76. 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 many different institutional and retail investors. Top institutional investors include BlackRock Inc. (11.69%), Vanguard Group Inc. (10.75%), State Street Corp (4.21%), ATLAS Infrastructure Partners UK Ltd. (3.42%), Victory Capital Management Inc. (2.95%) and First Trust Advisors LP (2.15%). Insiders that own company stock include Heidi E Jimmerson and Robert John Adams.
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 $65.90.

How much money does ALLETE make?

ALLETE (NYSE:ALE) has a market capitalization of $3.77 billion and generates $1.42 billion in revenue each year. The utilities provider earns $169.20 million in net income (profit) each year or $3.68 on an earnings per share basis.

How many employees does ALLETE have?

The company employs 1,365 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 12/3/2022 by MarketBeat.com Staff