ALLETE - ALE Stock Forecast, Price & News

2 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for ALLETE in the last twelve months. There are currently 2 hold ratings 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.
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2 Wall Street research analysts have issued 12 month target prices for ALLETE's stock. Their ALE share price forecasts range from $60.00 to $63.00. On average, they expect the company's stock price to reach $61.50 in the next twelve months. This suggests that the stock has a possible downside of 1.1%.
View analysts price targets for ALE or view top-rated stocks among Wall Street analysts.

ALLETE's stock was trading at $66.35 at the beginning of 2022. Since then, ALE stock has decreased by 6.3% and is now trading at $62.17.
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ALLETE is scheduled to release its next quarterly earnings announcement on Thursday, November 3rd 2022.
View our ALE earnings forecast.

ALLETE, Inc. (NYSE:ALE) released its quarterly earnings results on Wednesday, August, 3rd. The utilities provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.14. ALLETE had a trailing twelve-month return on equity of 6.29% and a net margin of 12.89%. During the same quarter last year, the company earned $0.53 EPS.

ALLETE announced a quarterly dividend on Friday, July 29th. Stockholders of record on Monday, August 15th will be given a dividend of $0.65 per share on Thursday, September 1st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date of this dividend is Friday, August 12th.
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 4.24%. 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 71.82%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, ALE will have a dividend payout ratio of 65.00% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for ALE.

ALLETE issued an update on its FY13 earnings guidance on Wednesday, August, 3rd. The company provided EPS guidance of $3.60-$3.90 for the period.

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 variety of retail and institutional investors. Top institutional shareholders include Victory Capital Management Inc. (3.21%), Truist Financial Corp (0.89%), Frontier Capital Management Co. LLC (0.72%), Deroy & Devereaux Private Investment Counsel Inc. (0.61%), Russell Investments Group Ltd. (0.58%) and Retirement Systems of Alabama (0.39%). Insiders that own company stock include Alan R Hodnik, Heidi E Jimmerson, Madeleine W Ludlow 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 $62.17.

ALLETE (NYSE:ALE) has a market capitalization of $3.55 billion and generates $1.42 billion in revenue each year. The utilities provider earns $169.20 million in net income (profit) each year or $3.62 on an earnings per share basis.

ALLETE employs 1,365 workers across the globe.

ALLETE was founded in 2015.

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 or via fax at 218-723-3944.