NYSE:ALEALLETE Stock Price, Forecast & News

$57.46

-0.75 (-1.29 %)

(As of 05/28/2020 04:00 PM ET)

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Today's Range

$57.23

Now: $57.46▼

$59.29

50-Day Range

$49.60

MA: $56.14▼

$61.88

52-Week Range

$48.22

Now: $57.46▼

$88.60

Volume450,698 shs

Average Volume385,831 shs

Market Capitalization$2.98 billion

P/E Ratio16.42

Dividend Yield4.24%

Beta0.34

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^™

2.1 Analyst's Opinion

Consensus Rating
ALLETE has received a consensus rating of Hold. The company's average rating score is 2.25, and is based on 1 buy rating, 3 hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $64.00, ALLETE has a potential upside of 11.4% from its current price of $57.46.
Amount of Analyst Coverage
ALLETE has only been the subject of 3 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 388 “underperform” votes. (Add your “underperform” vote.)
Community Sentiment
ALLETE has received 58.35% “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 4.24%, 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 64.66 % 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 not sold or bought any company stock.
Percentage Held by Insiders
Only 0.31% of the stock of ALLETE is held by insiders.
Percentage Held by Institutions
73.95% 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 6.41% in the coming year, from $3.59 to $3.82 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of ALLETE is 16.42, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 14.84.
Price to Earnings Ratio vs. Sector
The P/E ratio of ALLETE is 16.42, which means that it is trading at a less expensive P/E ratio than the Utilities sector average P/E ratio of about 28.85.
Price to Book Value per Share Ratio
ALLETE has a P/B Ratio of 1.25. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Overall Beat the Market Rank^™

2.13 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

Webwww.allete.com

Phone218-279-5000

Debt

Debt-to-Equity Ratio0.59

Current Ratio0.44

Quick Ratio0.31

Price-To-Earnings

Trailing P/E Ratio16.42

Forward P/E Ratio16.01

P/E GrowthN/A

Sales & Book Value

Annual Sales$1.24 billion

Price / Sales2.40

Cash Flow$7.51 per share

Price / Cash Flow7.65

Book Value$45.82 per share

Price / Book1.25

Profitability

EPS (Most Recent Fiscal Year)$3.33

Net Income$185.60 million

Net Margins15.18%

Return on Equity7.86%

Return on Assets3.33%

Miscellaneous

Employees1,339

Outstanding Shares51,787,000

Market Cap$2.98 billion

Next Earnings Date8/6/2020 (Estimated)

OptionableOptionable

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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 COVID-19 reached pandemic status according to the World Health Organization (WHO). Since then, ALE shares have decreased by 17.4% and is now trading at $57.46. View which stocks have been most impacted by Coronavirus.

Do Wall Street analysts recommend investors buy shares of ALLETE?

4 Wall Street analysts have issued "buy," "hold," and "sell" ratings for ALLETE in the last year. There are currently 3 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, August 6th 2020. View our earnings forecast for ALLETE.

How were ALLETE's earnings last quarter?

ALLETE Inc (NYSE:ALE) issued its earnings results on Wednesday, May, 6th. The utilities provider reported $1.28 earnings per share for the quarter, beating the Zacks' consensus estimate of $1.14 by $0.14. The utilities provider earned $311.60 million during the quarter, compared to the consensus estimate of $330.75 million. ALLETE had a net margin of 15.18% and a return on equity of 7.86%. The firm's quarterly revenue was down 12.8% compared to the same quarter last year. During the same period in the prior year, the firm 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. Shareholders of record on Friday, February 14th will be paid a dividend of $0.6175 per share on Sunday, March 1st. This represents a $2.47 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date of this dividend is Thursday, February 13th. This is an increase from ALLETE's previous quarterly dividend of $0.59. View ALLETE's dividend history.

What price target have analysts set for ALE?

4 brokerages have issued 1 year price objectives for ALLETE's shares. Their forecasts range from $57.00 to $74.00. On average, they expect ALLETE's stock price to reach $64.00 in the next twelve months. This suggests a possible upside of 11.4% from the stock's current price. View analysts' price targets for ALLETE.

Has ALLETE been receiving favorable news coverage?

News articles about ALE stock have been trending positive this week, InfoTrie Sentiment Analysis reports. The research firm identifies positive and negative press coverage by monitoring more than six thousand blog and news sources in real time. The firm ranks coverage of publicly-traded companies on a scale of -5 to 5, with scores closest to five being the most favorable. ALLETE earned a news sentiment score of 2.2 on InfoTrie's scale. They also assigned press coverage about the utilities provider a news buzz of 0.0 out of 10, indicating that recent press coverage is extremely unlikely to have an effect on the stock's share price in the next several days. View the latest news aboutALLETE.

Are investors shorting ALLETE?

ALLETE saw a increase in short interest in the month of May. As of May 15th, there was short interest totaling 937,200 shares, an increase of 7.0% from the April 30th total of 875,700 shares. Based on an average daily trading volume, of 427,000 shares, the short-interest ratio is presently 2.2 days. Currently, 1.8% of the company's shares are sold short. 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), PPL (PPL), Entergy (ETR), Pinnacle West Capital (PNW), OGE Energy (OGE), IDACORP (IDA) and Hawaiian Electric Industries (HE). View all 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 Hawkins (HWKN), Ameren (AEE), AT&T (T), United Parcel Service (UPS), Verizon Communications (VZ), BlackRock (BLK), TC Pipelines (TCP), AbbVie (ABBV), Starbucks (SBUX) and Activision Blizzard (ATVI).

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 BlackRock Inc. (11.88%), State Street Corp (3.69%), Principal Financial Group Inc. (2.73%), Victory Capital Management Inc. (2.39%), Victory Capital Management Inc. (2.38%) and Geode Capital Management LLC (1.60%). 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 major investors are selling ALLETE stock?

ALE stock was sold by a variety of institutional investors in the last quarter, including BlackRock Inc., Pictet Asset Management Ltd., Wellington Management Group LLP, AQR Capital Management LLC, Waddell & Reed Financial Inc., UBS Group AG, Morgan Stanley, and Morgan Stanley. Company insiders that have sold ALLETE company stock in the last year include Alan R Hodnik, Madeleine W Ludlow, and Robert John Adams. View insider buying and selling activity for ALLETE.

Which major investors are buying ALLETE stock?

ALE stock was bought by a variety of institutional investors in the last quarter, including Wells Fargo & Company MN, Principal Financial Group Inc., Channing Capital Management LLC, Massachusetts Financial Services Co. MA, Moody Aldrich Partners LLC, Geode Capital Management LLC, State Street Corp, and OLD Republic International Corp. 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 $57.46.

How big of a company is ALLETE?

ALLETE has a market capitalization of $2.98 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.

What is ALLETE's official website?

The official website for ALLETE is 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 5/29/2020 by MarketBeat.com Staff