ALLETE - ALE Stock Forecast, Price & News

5 Wall Street equities research 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. The consensus among Wall Street equities 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.

5 brokerages have issued 12-month price objectives for ALLETE's stock. Their ALE share price forecasts range from $54.00 to $66.00. On average, they anticipate the company's stock price to reach $62.80 in the next year. This suggests a possible upside of 3.0% from the stock's current price.
View analysts price targets for ALE or view top-rated stocks among Wall Street analysts.

ALLETE's stock was trading at $64.51 at the beginning of the year. Since then, ALE shares have decreased by 5.5% and is now trading at $60.97.
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ALLETE saw a increase in short interest in the month of December. As of December 30th, there was short interest totaling 645,000 shares, an increase of 8.1% from the December 15th total of 596,800 shares. Based on an average daily trading volume, of 375,000 shares, the short-interest ratio is currently 1.7 days.
View ALLETE's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Thursday, February 16th 2023.
View our ALE earnings forecast.

ALLETE will be holding an earnings conference call on Thursday, February 16th at 10:00 AM Eastern. Interested parties can register for or listen to the call using this link.

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

ALLETE declared a quarterly dividend on Friday, February 3rd. Shareholders of record on Wednesday, February 15th will be given a dividend of $0.678 per share on Wednesday, March 1st. This represents a $2.71 annualized dividend and a dividend yield of 4.45%. The ex-dividend date of this dividend is Tuesday, February 14th. This is an increase from the stock's previous quarterly dividend of $0.65.
Read our dividend analysis for ALE.

ALLETE (NYSE:ALE) pays an annual dividend of $2.60 per share and currently has a dividend yield of 4.16%. ALE has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The company has been increasing its dividend for 13 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 63.88% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for ALE.

ALLETE updated its FY 2022 earnings guidance on Friday, December, 9th. The company provided 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 -.

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.

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).

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

ALLETE's stock is owned by a number of retail and institutional investors. Top institutional shareholders include ATLAS Infrastructure Partners UK Ltd. (2.64%), Deroy & Devereaux Private Investment Counsel Inc. (0.57%), Russell Investments Group Ltd. (0.49%), Heartland Advisors Inc. (0.47%), Retirement Systems of Alabama (0.33%) and Natixis Advisors L.P. (0.27%). Insiders that own company stock include Heidi E Jimmerson and Robert John Adams.
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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.
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One share of ALE stock can currently be purchased for approximately $60.97.

ALLETE (NYSE:ALE) has a market capitalization of $3.49 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.

The company employs 1,365 workers across the globe.

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.