NYSE:ALEALLETE Stock Price, Forecast & News

ALLETE's stock was trading at $69.55 on March 11th, 2020 when Coronavirus reached pandemic status according to the World Health Organization (WHO). Since then, ALE stock has decreased by 9.6% and is now trading at $62.88. View which stocks have been most impacted by Coronavirus.

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.

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

ALLETE Inc (NYSE:ALE) announced its earnings results on Wednesday, May, 6th. The utilities provider reported $1.28 earnings per share 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 analyst estimates of $330.75 million. ALLETE had a net margin of 15.18% and a return on equity of 7.86%. The business's revenue was down 12.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.18 EPS. View ALLETE's earnings history.

ALLETE announced a quarterly dividend on Monday, February 3rd. Stockholders of record on Friday, February 14th will be given a dividend of $0.6175 per share on Sunday, March 1st. This represents a $2.47 dividend on an annualized basis and a yield of 3.93%. 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.

5 brokers have issued 12 month target prices 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 1.8% from the stock's current price. View analysts' price targets for ALLETE.

Headlines about ALE stock have been trending extremely negative recently, InfoTrie Sentiment Analysis reports. The research firm identifies positive and negative news coverage by analyzing more than six thousand news and blog sources in real time. The firm ranks coverage of publicly-traded companies on a scale of negative five to five, with scores nearest to five being the most favorable. ALLETE earned a news sentiment score of -5.0 on InfoTrie's scale. They also assigned news articles about the utilities provider a news buzz of 10.0 out of 10, indicating that recent news coverage is extremely likely to have an effect on the stock's share price in the immediate future. View the latest news aboutALLETE.

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 trading volume of 427,000 shares, the short-interest ratio is presently 2.2 days. Approximately 1.8% of the company's stock are sold short. View ALLETE's Current Options Chain.

Some companies that are related to ALLETE include NextEra Energy (NEE), Duke Energy (DUK), Southern (SO), American Electric Power (AEP), Exelon (EXC), Xcel Energy (XEL), Eversource Energy (ES), PPL (PPL), FirstEnergy (FE), Edison International (EIX), Entergy (ETR), Pinnacle West Capital (PNW), OGE Energy (OGE), IDACORP (IDA) and Hawaiian Electric Industries (HE). View all competitors.

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).

ALLETE trades on the New York Stock Exchange (NYSE) under the ticker symbol "ALE."

ALLETE's stock is owned by a variety 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.

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.

ALE stock was bought 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.

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 $62.88.

ALLETE has a market capitalization of $3.26 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.