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NYSE:ALE

ALLETE Stock Forecast, Price & News

$70.06
+1.81 (+2.65 %)
(As of 05/13/2021 12:00 AM ET)
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Today's Range
$68.33
$70.52
50-Day Range
$67.19
$71.41
52-Week Range
$48.22
$72.60
Volume220,146 shs
Average Volume361,707 shs
Market Capitalization$3.66 billion
P/E Ratio20.55
Dividend Yield3.66%
Beta0.43
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ALLETE logo

About ALLETE

ALLETE, Inc. operates as an energy company. The company operates through Regulated Operations, ALLETE Clean Energy, and Corporate and Other segments. It generates electricity from coal-fired, biomass co-fired / natural gas, hydroelectric, wind, and solar. The company provides regulated utility electric 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 15 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 1,000 megawatts of wind energy generation facility. Further, it is involved in the coal mining operations in North Dakota; and real estate investment activities in Florida. The company owns and operates 158 substations with a total capacity of 10,066 megavolt amperes. It serves taconite mining, paper, pulp and secondary wood products, pipeline, and other industries. The company was formerly known as Minnesota Power, Inc. and changed its name to ALLETE, Inc. in May 2001. ALLETE, Inc. was incorporated in 1906 and is headquartered in Duluth, Minnesota.

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Industry, Sector and Symbol

Industry Electric & other services combined
Sub-IndustryElectric Utilities
SectorUtilities
CUSIP01852230
Phone218-279-5000
Employees1,322
Year Founded2015

Sales & Book Value

Annual Sales$1.24 billion
Cash Flow$7.59 per share
Book Value$45.20 per share

Profitability

Net Income$185.60 million

Debt

Price-To-Earnings

Miscellaneous

Market Cap$3.66 billion
Next Earnings Date8/4/2021 (Estimated)
OptionableOptionable

MarketRank

Overall MarketRank

1.79 out of 5 stars

Utilities Sector

53rd out of 281 stocks

Electric & Other Services Combined Industry

11th out of 27 stocks

Analyst Opinion: 1.0Community Rank: 2.1Dividend Strength: 1.7Insider Behavior: 1.7Valuation: 2.5 5 -4 -3 -2 -1 -
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ALLETE (NYSE:ALE) Frequently Asked Questions

Is ALLETE a buy 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" ALLETE stock. 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 analyst ratings for ALLETE
or view top-rated stocks.

What stocks does MarketBeat like better than ALLETE?

Wall Street analysts have given ALLETE a "Hold" rating, but there may be better buying opportunities in the stock market. Some of MarketBeat's past winning trading ideas have resulted in 5-15% weekly gains. MarketBeat just released five new stock ideas, but ALLETE wasn't one of them. MarketBeat thinks these five companies may be even better buys.
View MarketBeat's top stock picks here.

When is ALLETE's next earnings date?

ALLETE is scheduled to release its next quarterly earnings announcement on Wednesday, August 4th 2021.
View our earnings forecast for ALLETE
.

How were ALLETE's earnings last quarter?

ALLETE, Inc. (NYSE:ALE) issued its earnings results on Wednesday, May, 5th. The utilities provider reported $0.99 earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of $1.09 by $0.10. The utilities provider earned $339.20 million during the quarter, compared to analysts' expectations of $318 million. ALLETE had a net margin of 15.33% and a trailing twelve-month return on equity of 7.29%. ALLETE's quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 earnings per share.
View ALLETE's earnings history
.

How has ALLETE's stock been impacted by COVID-19?

ALLETE's stock was trading at $69.55 on March 11th, 2020 when COVID-19 reached pandemic status according to the World Health Organization. Since then, ALE stock has increased by 0.7% and is now trading at $70.06.
View which stocks have been most impacted by COVID-19
.

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

ALLETE declared a quarterly dividend on Thursday, April 29th. Stockholders of record on Friday, May 14th will be given a dividend of $0.63 per share on Tuesday, June 1st. This represents a $2.52 annualized dividend and a yield of 3.60%. The ex-dividend date is Thursday, May 13th.
View ALLETE's dividend history
.

Is ALLETE a good dividend stock?

ALLETE pays an annual dividend of $2.52 per share and currently has a dividend yield of 3.66%. ALLETE does not yet have a strock track record of dividend growth. The dividend payout ratio of ALLETE is 75.68%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, ALLETE will have a dividend payout ratio of 69.23% next year. This indicates that ALLETE will be able to sustain or increase its dividend.
View ALLETE's dividend history.

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

ALLETE issued an update on its FY 2021 earnings guidance on Thursday, May, 13th. The company provided earnings per share (EPS) guidance of 3.000-3.300 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.190. The company issued revenue guidance of -.

What price target have analysts set for ALE?

5 equities research analysts have issued 12 month target prices for ALLETE's shares. Their forecasts range from $62.00 to $74.00. On average, they anticipate ALLETE's stock price to reach $66.50 in the next twelve months. This suggests that the stock has a possible downside of 5.1%.
View analysts' price targets for ALLETE
or view top-rated stocks among Wall Street analysts.

Who are ALLETE's key executives?

ALLETE's management team includes the following people:
  • Mr. Alan R. Hodnik, Exec. Chairman (Age 61, Pay $1.13M)
  • Ms. Bethany M. Owen, CEO, Pres & Director (Age 55, Pay $1.08M)
  • Mr. Robert J. Adams, Sr. VP & CFO (Age 58, Pay $772.75k)
  • Mr. Steven Wayne Morris, VP, Controller & Chief Accounting Officer (Age 59, Pay $455.68k)
  • Ms. Nicole Renee Johnson, VP & Chief Admin. Officer (Age 46, Pay $487.08k)
  • Ms. Margaret A. Thickens, VP, Chief Legal Officer & Corp. Sec. (Age 54, Pay $462.31k)
  • Mr. Vincent J. Meyer, VP of Investor Relations
  • Mr. Wade W. Boeshans, Pres & GM of BNI Energy
  • Mr. Al Rudeck, Pres of Allete Clean Energy, Inc.
  • Mr. Patrick L. Cutshall C.F.A., CPA, CPA, CFA, VP & Corp. Treasurer (Age 56)

What is Alan R. Hodnik's approval rating as ALLETE's CEO?

5 employees have rated ALLETE CEO Alan R. Hodnik on Glassdoor.com. Alan R. Hodnik has an approval rating of 100% among ALLETE's employees. This puts Alan R. Hodnik in the top 10% of approval ratings compared to other CEOs of publicly-traded companies.

Who are some of ALLETE's key competitors?

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), The 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 retail and institutional investors. Top institutional shareholders include BlackRock Inc. (12.27%), Victory Capital Management Inc. (2.36%), Principal Financial Group Inc. (2.11%), Geode Capital Management LLC (1.65%), Bank of New York Mellon Corp (1.47%) and Northern Trust Corp (1.45%). Company insiders that own ALLETE stock include Alan R Hodnik, Kathryn W Dindo, Madeleine W Ludlow and Robert John Adams.
View institutional ownership trends for ALLETE
.

Which major investors are selling ALLETE stock?

ALE stock was sold by a variety of institutional investors in the last quarter, including Massachusetts Financial Services Co. MA, Foundry Partners LLC, Principal Financial Group Inc., Polaris Capital Management LLC, Victory Capital Management Inc., Allianz Asset Management GmbH, State of Tennessee Treasury Department, and Royce & Associates LP.
View insider buying and selling activity for ALLETE
or view top insider-selling stocks.

Which major investors are buying ALLETE stock?

ALE stock was bought by a variety of institutional investors in the last quarter, including BlackRock Inc., Russell Investments Group Ltd., Geode Capital Management LLC, Natixis Advisors L.P., Duality Advisers LP, Commonwealth of Pennsylvania Public School Empls Retrmt SYS, Alliancebernstein L.P., and Brasada Capital Management LP.
View insider buying and selling activity for ALLETE
or or view top insider-buying stocks.

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 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 $70.06.

How much money does ALLETE make?

ALLETE has a market capitalization of $3.66 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.

How many employees does ALLETE have?

ALLETE employs 1,322 workers across the globe.

When was ALLETE founded?

ALLETE was founded in 2015.

What is ALLETE's official website?

The official website for ALLETE is www.allete.com.

Where are ALLETE's headquarters?

ALLETE is headquartered at 30 W SUPERIOR STREET, DULUTH MN, 55802.

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 5/13/2021 by MarketBeat.com Staff
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