S&P 500   4,117.86
DOW   33,949.01
QQQ   304.37
Is SoundHound Voice AI the Next Big Thing?
The Guide May Be Free But It’s Worth Much, Much More… (Ad)pixel
CVS Health Corporation Is Coiled And Ready To Spring Higher 
Double Meat: Beyond Meat Could Be 2023’s Next Two-Bagger
The Guide May Be Free But It’s Worth Much, Much More… (Ad)pixel
3 Solar-Energy Stocks Setting Up In Bullish Bases
V.F. Corporation Is A High-Yield Bargain Despite Dividend Cut
Free Stock Analysis Report: Get Buy, Sell, or Hold Recommendation (Ad)pixel
TG Therapeutics Stock 300% Rally Has Legs Yet
Daqo New Energy Charged Up For New Highs
S&P 500   4,117.86
DOW   33,949.01
QQQ   304.37
Is SoundHound Voice AI the Next Big Thing?
The Guide May Be Free But It’s Worth Much, Much More… (Ad)pixel
CVS Health Corporation Is Coiled And Ready To Spring Higher 
Double Meat: Beyond Meat Could Be 2023’s Next Two-Bagger
The Guide May Be Free But It’s Worth Much, Much More… (Ad)pixel
3 Solar-Energy Stocks Setting Up In Bullish Bases
V.F. Corporation Is A High-Yield Bargain Despite Dividend Cut
Free Stock Analysis Report: Get Buy, Sell, or Hold Recommendation (Ad)pixel
TG Therapeutics Stock 300% Rally Has Legs Yet
Daqo New Energy Charged Up For New Highs
S&P 500   4,117.86
DOW   33,949.01
QQQ   304.37
Is SoundHound Voice AI the Next Big Thing?
The Guide May Be Free But It’s Worth Much, Much More… (Ad)pixel
CVS Health Corporation Is Coiled And Ready To Spring Higher 
Double Meat: Beyond Meat Could Be 2023’s Next Two-Bagger
The Guide May Be Free But It’s Worth Much, Much More… (Ad)pixel
3 Solar-Energy Stocks Setting Up In Bullish Bases
V.F. Corporation Is A High-Yield Bargain Despite Dividend Cut
Free Stock Analysis Report: Get Buy, Sell, or Hold Recommendation (Ad)pixel
TG Therapeutics Stock 300% Rally Has Legs Yet
Daqo New Energy Charged Up For New Highs
S&P 500   4,117.86
DOW   33,949.01
QQQ   304.37
Is SoundHound Voice AI the Next Big Thing?
The Guide May Be Free But It’s Worth Much, Much More… (Ad)pixel
CVS Health Corporation Is Coiled And Ready To Spring Higher 
Double Meat: Beyond Meat Could Be 2023’s Next Two-Bagger
The Guide May Be Free But It’s Worth Much, Much More… (Ad)pixel
3 Solar-Energy Stocks Setting Up In Bullish Bases
V.F. Corporation Is A High-Yield Bargain Despite Dividend Cut
Free Stock Analysis Report: Get Buy, Sell, or Hold Recommendation (Ad)pixel
TG Therapeutics Stock 300% Rally Has Legs Yet
Daqo New Energy Charged Up For New Highs
NYSE:ALE

ALLETE - ALE Stock Forecast, Price & News

$60.97
-1.30 (-2.09%)
(As of 02/8/2023 12:00 AM ET)
Add
Compare
Today's Range
$60.96
$61.94
50-Day Range
$60.35
$66.07
52-Week Range
$47.77
$68.46
Volume
342,024 shs
Average Volume
294,386 shs
Market Capitalization
$3.49 billion
P/E Ratio
16.57
Dividend Yield
4.16%
Price Target
$62.80

ALLETE MarketRank™ Forecast

Analyst Rating
Hold
2.00 Rating Score
Upside/​Downside
3.0% Upside
$62.80 Price Target
Short Interest
Healthy
1.13% of Shares Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
-1.71
Upright™ Environmental Score
News Sentiment
0.62mentions of ALLETE in the last 14 days
Based on 7 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
8.53%
From $3.75 to $4.07 Per Share

Overall MarketRank

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

2.67 out of 5 stars

Utilities Sector

14th out of 85 stocks

Electric & Other Services Combined Industry

2nd 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 U.S. Water Services. 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 U.S. Water Services segment provides integrated water management for industry by combining chemical, equipment, engineering, and service for customized solutions to reduce water and energy usage and improve efficiency. The company was founded in 1906 and is headquartered in Duluth, MN.

Receive ALE Stock News and Ratings via Email

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

ALE Stock News Headlines

Laser breakthrough could send stock soaring 2,476%
Whenever the military develops a breakthrough technology, timely investors could see groundbreaking returns. General Dynamics returned 8,990%...Boeing soared 4,238%...L3Harris shot up 1,628%...
ALE or WEC: Which Is the Better Value Stock Right Now?
ALLETE (NYSE:ALE) PT Lowered to $65.00 at Wells Fargo & Company
Cash Holders STILL Aren't Taking Steps to Prepare
Stocks are crashing... inflation is through the roof... multiple industries are getting hit hard... Americans are fearful of what might happen to their stock portfolios right now -- and who's to blame them? But former Wall Street money manager Louis Navellier says all it takes is being on the right side of this force driving the massive divide. Take action today and watch his exclusive presentation -- absolutely free of charge -- to see how you should be prepping for this phenomenon.
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
Why Allete (ALE) is a Great Dividend Stock Right Now
See More Headlines
Receive ALE Stock News and Ratings via Email

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

ALE Company Calendar

Last Earnings
11/04/2021
Ex-Dividend for 12/1 Dividend
11/14/2022
Dividend Payable
12/01/2022
Today
2/08/2023
Ex-Dividend for 3/1 Dividend
2/14/2023
Next Earnings (Confirmed)
2/16/2023
Dividend Payable
3/01/2023
Fiscal Year End
12/31/2023

Industry, Sector and Symbol

Industry
Electric & other services combined
Sub-Industry
Electric Utilities
Sector
Utilities
CUSIP
01852230
Employees
1,365
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
+3.0%
Consensus Rating
Hold
Rating Score (0-4)
2.00
Research Coverage
5 Analysts

Profitability

Net Income
$169.20 million
Pretax Margin
7.49%

Debt

Sales & Book Value

Annual Sales
$1.54 billion
Cash Flow
$7.41 per share
Book Value
$56.04 per share

Miscellaneous

Free Float
57,031,000
Market Cap
$3.49 billion
Optionable
Optionable
Beta
0.73

Key Executives

  • Bethany M. Owen
    Chairman, Co-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 brokerages have issued 12-month price objectives for ALLETE's stock. 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 a possible upside of 3.0% from the stock's current price.
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 beginning of the year. Since then, ALE shares have decreased by 5.5% and is now trading at $60.97.
View the best growth stocks for 2023 here
.

Are investors shorting ALLETE?

ALLETE saw a increase in short interest in the month of December. As of December 30th, there was short interest totaling 645,000 shares, an increase of 8.1% from the December 15th total of 596,800 shares. Based on an average daily trading volume, of 375,000 shares, the short-interest ratio is currently 1.7 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, February 16th 2023.
View our ALE earnings forecast
.

How can I listen to ALLETE's earnings call?

ALLETE will be holding an earnings conference call on Thursday, February 16th at 10:00 AM Eastern. Interested parties can register for or listen to the call using this link.

How were ALLETE's earnings last quarter?

ALLETE, Inc. (NYSE:ALE) posted its quarterly earnings results on Thursday, November, 4th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.71 by $0.18. The utilities provider earned $345.70 million during the quarter, compared to analysts' expectations of $300.20 million. ALLETE had a net margin of 12.92% and a trailing twelve-month return on equity of 6.23%. The company's revenue was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.78 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. Shareholders 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 annualized dividend and a dividend yield of 4.45%. The ex-dividend date of this dividend is Tuesday, February 14th. This is an increase 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 $2.60 per share and currently has a dividend yield of 4.16%. 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 70.65%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, ALE will have a dividend payout ratio of 63.88% 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 2022 earnings guidance on Friday, December, 9th. The company provided EPS guidance of $3.60-$3.90 for the period, compared to the consensus EPS estimate of $3.76. 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 retail and institutional investors. Top institutional shareholders include ATLAS Infrastructure Partners UK Ltd. (2.64%), Deroy & Devereaux Private Investment Counsel Inc. (0.57%), Russell Investments Group Ltd. (0.49%), Heartland Advisors Inc. (0.47%), Retirement Systems of Alabama (0.33%) and Natixis Advisors L.P. (0.27%). Insiders that own company stock include Heidi E Jimmerson and Robert John Adams.
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 $60.97.

How much money does ALLETE make?

ALLETE (NYSE:ALE) has a market capitalization of $3.49 billion and generates $1.42 billion in revenue each year. The utilities provider earns $169.20 million in net income (profit) each year or $3.68 on an earnings per share basis.

How many employees does ALLETE have?

The company employs 1,365 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 2/9/2023 by MarketBeat.com Staff