NYSE:ALEALLETE Stock Price, Forecast & News

$58.46

-0.85 (-1.43 %)

(As of 04/7/2020 04:00 PM ET)

Add

Compare

Today's Range

$58.04

Now: $58.46▼

$61.57

50-Day Range

$52.24

MA: $67.71▼

$81.36

52-Week Range

$50.01

Now: $58.46▼

$88.60

Volume393,700 shs

Average Volume344,003 shs

Market Capitalization$3.02 billion

P/E Ratio16.28

Dividend Yield4.16%

Beta0.47

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.

Beat the Market (BTM) Rank^™

2.2 Analyst's Opinion

Consensus Rating
ALLETE has received a consensus rating of Hold. The company's average rating score is 2.33, and is based on 1 buy rating, 2 hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $67.50, ALLETE has a potential upside of 15.5% from its current price of $58.46.
Amount of Analyst Coverage
ALLETE has only been the subject of 2 research reports in the past 90 days.

2.1 Community Rank

Outperform Votes
ALLETE has received 277 “outperform” votes. (Add your “outperform” vote.)
Underperform Votes
ALLETE has received 386 “underperform” votes. (Add your “underperform” vote.)
Community Sentiment
ALLETE has received 58.22% “underperform” votes from our community.

MarketBeat's community ratings are surveys of what our community members think about ALLETE and other stocks. Vote “Outperform” if you believe ALE will outperform the S&P 500 over the long term. Vote “Underperform” if you believe ALE will underperform the S&P 500 over the long term. You may vote once every thirty days.

4.2 Dividend Strength

Dividend Leadership
ALLETE is a leading dividend payer. It pays a dividend yield of 4.16%, putting its dividend yield in the top 25% of dividend-paying stocks.
Dividend Growth
ALLETE has been increasing its dividend for 9 years.
Dividend Coverage
The dividend payout ratio of ALLETE is 74.17 %. This payout ratio is at a healthy, sustainable level, below 75%.
Dividend Sustainability
Based on earnings estimates, ALLETE will have a dividend payout ratio of 60.54 % next year. This indicates that ALLETE will be able to sustain or increase its dividend.

1.0 Company Ownership

Insider Buying vs. Insider Selling
In the past three months, ALLETE insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $432,328.00 in company stock.
Percentage Held by Insiders
Only 0.31% of the stock of ALLETE is held by insiders.
Percentage Held by Institutions
73.24% of the stock of ALLETE is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

1.3 Earnings and Valuation

Earnings Growth
Earnings for ALLETE are expected to grow by 13.65% in the coming year, from $3.59 to $4.08 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of ALLETE is 16.28, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 11.86.
Price to Earnings Ratio vs. Sector
The P/E ratio of ALLETE is 16.28, which means that it is trading at a less expensive P/E ratio than the Utilities sector average P/E ratio of about 27.80.
Price to Book Value per Share Ratio
ALLETE has a P/B Ratio of 1.29. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Overall Beat the Market Rank^™

2.14 out of 5 stars

Industry, Sector and Symbol

Stock Exchange NYSE

Industry Electric & other services combined

Sub-IndustryElectric Utilities

SectorUtilities

Current SymbolNYSE:ALE

Previous Symbol

CUSIP01852230

CIK66756

Webhttp://www.allete.com/

Phone218-279-5000

Debt

Debt-to-Equity Ratio0.60

Current Ratio0.53

Quick Ratio0.39

Price-To-Earnings

Trailing P/E Ratio16.28

Forward P/E Ratio16.28

P/E GrowthN/A

Sales & Book Value

Annual Sales$1.24 billion

Price / Sales2.44

Cash Flow$7.76 per share

Price / Cash Flow7.53

Book Value$45.20 per share

Price / Book1.29

Profitability

EPS (Most Recent Fiscal Year)$3.33

Net Income$185.60 million

Net Margins14.96%

Return on Equity7.77%

Return on Assets3.28%

Miscellaneous

Employees1,339

Outstanding Shares51,696,000

Market Cap$3.02 billion

Next Earnings Date5/7/2020 (Estimated)

OptionableOptionable

Receive ALE News and Ratings via Email

Sign-up to receive the latest news and ratings for ALE and its competitors with MarketBeat's FREE daily newsletter.

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 Coronavirus (COVID-19) reached pandemic status according to the World Health Organization. Since then, ALE shares have decreased by 15.9% and is now trading at $58.46. View which stocks have been mosted impacted by Coronavirus.

Do Wall Street analysts recommend investors buy shares of ALLETE?

3 Wall Street analysts have issued "buy," "hold," and "sell" ratings for ALLETE in the last year. There are currently 2 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, May 7th 2020. View our earnings forecast for ALLETE.

How were ALLETE's earnings last quarter?

ALLETE Inc (NYSE:ALE) announced its quarterly earnings results on Thursday, February, 13th. The utilities provider reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. The utilities provider had revenue of $304.60 million for the quarter, compared to analyst estimates of $356.60 million. ALLETE had a net margin of 14.96% and a return on equity of 7.77%. The business's revenue was down 32.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $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. 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 4.23%. The ex-dividend date is Thursday, February 13th. This is an increase from ALLETE's previous quarterly dividend of $0.59. View ALLETE's dividend history.

What guidance has ALLETE issued on next quarter's earnings?

ALLETE updated its FY20 earnings guidance on Thursday, February, 13th. The company provided earnings per share guidance of $3.40 to $3.70 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.67.

What price target have analysts set for ALE?

3 equities research analysts have issued 12-month target prices for ALLETE's stock. Their forecasts range from $61.00 to $74.00. On average, they expect ALLETE's stock price to reach $67.50 in the next year. This suggests a possible upside of 15.5% from the stock's current price. View analysts' price targets for ALLETE.

Has ALLETE been receiving favorable news coverage?

Press coverage about ALE stock has been trending very negative this week, according to InfoTrie Sentiment Analysis. The research firm identifies negative and positive media coverage by reviewing more than six thousand news and blog sources in real time. The firm ranks coverage of public companies on a scale of negative five to five, with scores closest to five being the most favorable. ALLETE earned a coverage optimism score of -3.3 on InfoTrie's scale. They also assigned news coverage about the utilities provider a news buzz of 0.0 out of 10, indicating that recent media coverage is extremely unlikely to have an impact on the company's share price in the near future. View the latest news aboutALLETE.

Are investors shorting ALLETE?

ALLETE saw a increase in short interest in March. As of March 13th, there was short interest totaling 1,080,300 shares, an increase of 49.6% from the February 27th total of 721,900 shares. Based on an average daily trading volume, of 281,300 shares, the days-to-cover ratio is presently 3.8 days. Currently, 2.1% of the shares of the company are short sold. View ALLETE's Current Options Chain.

Who are some of ALLETE's key competitors?

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), FirstEnergy (FE), Edison International (EIX), Entergy (ETR), PPL (PPL), Pinnacle West Capital (PNW), OGE Energy (OGE), IDACORP (IDA) and Hawaiian Electric Industries (HE).

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), TC Pipelines (TCP), Verizon Communications (VZ), BlackRock (BLK), Starbucks (SBUX), AbbVie (ABBV) and Energy Transfer LP Unit (ET).

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 many different retail and institutional investors. Top institutional investors include State of Alaska Department of Revenue (0.02%). 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 buying ALLETE stock?

ALE stock was acquired by a variety of institutional investors in the last quarter, including State of Alaska Department of Revenue. 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 $58.46.

How big of a company is ALLETE?

ALLETE has a market capitalization of $3.02 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. View additional information about ALLETE.

What is ALLETE's official website?

The official website for ALLETE is http://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 4/7/2020 by MarketBeat.com Staff

Featured Article: Institutional Investors

NYSE:ALEALLETE Stock Price, Forecast & News

Adding

Adding

Adding ALLETE Inc

Beat the Market (BTM) Rank™

2.2 Analyst's Opinion

Consensus Rating

Price Target Upside/Downside

Amount of Analyst Coverage

2.1 Community Rank

Outperform Votes

Underperform Votes

Community Sentiment