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NYSE:ALE

ALLETE - ALE Stock Forecast, Price & News

$63.68
+0.28 (+0.44%)
(As of 03/29/2023 12:38 PM ET)
Add
Compare
Today's Range
$63.48
$64.00
50-Day Range
$58.65
$64.61
52-Week Range
$47.77
$68.46
Volume
48,603 shs
Average Volume
319,679 shs
Market Capitalization
$3.65 billion
P/E Ratio
18.73
Dividend Yield
4.26%
Price Target
$62.80

ALLETE MarketRank™ Forecast

Analyst Rating
Hold
2.00 Rating Score
Upside/​Downside
1.1% Downside
$62.80 Price Target
Short Interest
Healthy
1.73% of Shares Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
-1.71
Upright™ Environmental Score
News Sentiment
0.42mentions of ALLETE in the last 14 days
Based on 3 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
8.65%
From $3.70 to $4.02 Per Share

Overall MarketRank

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

2.27 out of 5 stars

Utilities Sector

47th out of 85 stocks

Electric & Other Services Combined Industry

11th out of 19 stocks


ALE stock logo

About ALLETE (NYSE:ALE) Stock

ALLETE, Inc. engages in the provision of electric and natural gas utility services. It operates through the following business segments: Regulated Operations, ALLETE Clean Energy, and Corporate and Other. The Regulated Operations segment includes regulated utilities, Minnesota Power, SWL&P, and investment in ATC, which regulates utilities that own and maintain electric transmission assets. The ALLETE Clean Energy segment develops, acquires, and operates clean and renewable energy projects. The Corporate and Other segment includes New Energy, South Shore Energy, BNI Energy, ALLETE Properties, a small amount of non-rate base generation, land holdings, and earnings on cash and investments. The company was founded on January 25, 1906 and is headquartered in Duluth, MN.

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ALE Stock News Headlines

The "King Of Quants" sees 10X potential...
Eric Fry believes he just discovered America's next "Wealth Supercluster" and it's forming in the place you'd least expect. Investors are already flocking there for a chance at 1,000%+ returns. Here's how you could join them before it's too late...
J.P. Morgan Keeps Their Hold Rating on Allete (ALE)
ALE or WEC: Which Is the Better Value Stock Right Now?
The "King Of Quants" sees 10X potential...
Eric Fry believes he just discovered America's next "Wealth Supercluster" and it's forming in the place you'd least expect. Investors are already flocking there for a chance at 1,000%+ returns. Here's how you could join them before it's too late...
ALLETE to announce 2022 financial results on Feb. 16
Calculating The Fair Value Of ALLETE, Inc. (NYSE:ALE)
ALE vs. HE: Which Stock Should Value Investors Buy Now?
Allete (ALE) Is Up 2.97% in One Week: What You Should Know
ALE or HE: Which Is the Better Value Stock Right Now?
Allete Q3 Earnings Miss Estimates; Maintains FY22 Outlook
See More Headlines
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ALE Company Calendar

Ex-Dividend for 3/1 Dividend
2/14/2023
Last Earnings
2/16/2023
Dividend Payable
3/01/2023
Today
3/29/2023
Next Earnings (Estimated)
5/04/2023
Fiscal Year End
12/31/2023

Industry, Sector and Symbol

Industry
Electric & other services combined
Sub-Industry
Electric Utilities
Sector
Utilities
CUSIP
01852230
Employees
1,494
Year Founded
2015

Price Target and Rating

Average Stock Price Forecast
$62.80
High Stock Price Forecast
$66.00
Low Stock Price Forecast
$54.00
Forecasted Upside/Downside
-0.9%
Consensus Rating
Hold
Rating Score (0-4)
2.00
Research Coverage
5 Analysts

Profitability

Net Income
$189.30 million
Pretax Margin
6.37%

Debt

Sales & Book Value

Annual Sales
$1.57 billion
Cash Flow
$7.57 per share
Book Value
$58.58 per share

Miscellaneous

Free Float
57,181,000
Market Cap
$3.63 billion
Optionable
Optionable
Beta
0.72

Key Executives

  • Bethany M. Owen
    Chairman, President & Chief Executive Officer
  • Joshua Kunkel
    Co-President
  • Dean Eastlake
    Chief Operating Officer
  • Steven W. Morris
    Senior VP, Chief Financial & Accounting Officer
  • Patrick L. Cutshall
    Treasurer & Vice President













ALE Stock - Frequently Asked Questions

Should I buy or sell ALLETE stock right now?

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.

What is ALLETE's stock price forecast for 2023?

5 Wall Street analysts have issued 12 month target prices for ALLETE's shares. 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 that the stock has a possible downside of 0.9%.
View analysts price targets for ALE
or view top-rated stocks among Wall Street analysts.

How have ALE shares performed in 2023?

ALLETE's stock was trading at $64.51 at the start of the year. Since then, ALE stock has decreased by 1.7% and is now trading at $63.40.
View the best growth stocks for 2023 here
.

Are investors shorting ALLETE?

ALLETE saw a increase in short interest in February. As of February 28th, there was short interest totaling 1,020,000 shares, an increase of 9.1% from the February 13th total of 934,600 shares. Based on an average trading volume of 324,700 shares, the days-to-cover ratio is currently 3.1 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 Thursday, May 4th 2023.
View our ALE earnings forecast
.

How were ALLETE's earnings last quarter?

ALLETE, Inc. (NYSE:ALE) posted its quarterly earnings data on Thursday, February, 16th. The utilities provider reported $0.90 EPS for the quarter, missing the consensus estimate of $1.11 by $0.21. The utilities provider had revenue of $425.80 million for the quarter, compared to analyst estimates of $404.81 million. ALLETE had a net margin of 12.05% and a trailing twelve-month return on equity of 5.73%. ALLETE's quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.18 earnings per share.

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

ALLETE declared a quarterly dividend on Friday, February 3rd. Stockholders 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 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date of this dividend is Tuesday, February 14th. This is a positive change from the stock's previous quarterly dividend of $0.65.
Read our dividend analysis for ALE
.

Is ALLETE a good dividend stock?

ALLETE (NYSE:ALE) pays an annual dividend of $2.71 per share and currently has a dividend yield of 4.28%. 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 79.71%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, ALE will have a dividend payout ratio of 67.41% 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 updated its FY 2023 earnings guidance on Monday, February, 20th. The company provided EPS guidance of $3.55-$3.85 for the period, compared to the consensus earnings per share estimate of $3.84. 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 a number of institutional and retail investors. Top institutional shareholders include Victory Capital Management Inc. (2.92%), Victory Capital Management Inc. (2.91%), ATLAS Infrastructure Partners UK Ltd. (2.64%), Macquarie Group Ltd. (2.32%), First Trust Advisors LP (2.27%) and Geode Capital Management LLC (1.85%).
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 $63.40.

How much money does ALLETE make?

ALLETE (NYSE:ALE) has a market capitalization of $3.63 billion and generates $1.57 billion in revenue each year. The utilities provider earns $189.30 million in net income (profit) each year or $3.40 on an earnings per share basis.

How many employees does ALLETE have?

The company employs 1,494 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 3/29/2023 by MarketBeat.com Staff