NYSE:ALE - ALLETE Stock Price, Forecast & News

ALLETE's stock was trading at $69.55 on March 11th, 2020 when Coronavirus reached pandemic status according to the World Health Organization (WHO). Since then, ALE shares have decreased by 11.0% and is now trading at $61.93. View which stocks have been mosted impacted by Coronavirus.

2 Wall Street analysts have issued "buy," "hold," and "sell" ratings for ALLETE in the last year. There are currently 1 hold rating and 1 buy rating for the stock, resulting in a consensus recommendation of "Buy." View analyst ratings for ALLETE.

ALLETE is scheduled to release its next quarterly earnings announcement on Thursday, May 7th 2020. View our earnings forecast for ALLETE.

ALLETE Inc (NYSE:ALE) released its quarterly earnings data on Thursday, February, 13th. The utilities provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. The utilities provider earned $304.60 million during the quarter, compared to the consensus estimate of $356.60 million. ALLETE had a return on equity of 7.77% and a net margin of 14.96%. The company's quarterly revenue was down 32.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.18 earnings per share. View ALLETE's earnings history.

ALLETE announced a quarterly dividend on Monday, February 3rd. Investors 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 annualized dividend and a dividend yield of 3.99%. 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.

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

2 equities research analysts have issued twelve-month target prices for ALLETE's shares. Their forecasts range from $74.00 to $74.00. On average, they anticipate ALLETE's share price to reach $74.00 in the next twelve months. This suggests a possible upside of 19.5% from the stock's current price. View analysts' price targets for ALLETE.

Headlines about ALE stock have trended somewhat positive this week, InfoTrie Sentiment Analysis reports. The research group identifies negative and positive press coverage by analyzing more than six thousand news and blog sources in real time. The firm ranks coverage of public companies on a scale of -5 to 5, with scores closest to five being the most favorable. ALLETE earned a media sentiment score of 1.2 on InfoTrie's scale. They also gave press coverage about the utilities provider a news buzz of 0.0 out of 10, meaning that recent press coverage is extremely unlikely to have an impact on the stock's share price in the near future. View the latest news aboutALLETE.

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 short-interest ratio is currently 3.8 days. Currently, 2.1% of the shares of the stock are sold short. View ALLETE's Current Options Chain.

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

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).

ALLETE trades on the New York Stock Exchange (NYSE) under the ticker symbol "ALE."

ALLETE's stock is owned by a number of retail and institutional investors. Top institutional investors include State Street Corp (3.57%), Victory Capital Management Inc. (2.43%), Victory Capital Management Inc. (2.42%), Goldman Sachs Group Inc. (2.13%), Principal Financial Group Inc. (2.09%) and Renaissance Technologies LLC (1.58%). 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.

ALE stock was sold by a variety of institutional investors in the last quarter, including Goldman Sachs Group Inc., Rothschild & Co. Asset Management US Inc., Renaissance Technologies LLC, AQR Capital Management LLC, Russell Investments Group Ltd., Man Group plc, New York State Common Retirement Fund, and Mesirow Financial Investment Management Equity Management. Company insiders that have sold ALLETE company stock in the last year include Alan R Hodnik, Kathryn W Dindo, Madeleine W Ludlow, and Robert John Adams. View insider buying and selling activity for ALLETE.

ALE stock was acquired by a variety of institutional investors in the last quarter, including Pictet Asset Management Ltd., State Street Corp, First Trust Advisors LP, Prudential Financial Inc., Eagle Asset Management Inc., Barclays PLC, Macquarie Group Ltd., and Macquarie Group Ltd.. View insider buying and selling activity for 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.

One share of ALE stock can currently be purchased for approximately $61.93.

ALLETE has a market capitalization of $3.20 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.

The official website for ALLETE is http://www.allete.com/.

ALLETE's mailing address is 30 W SUPERIOR STREET, DULUTH MN, 55802. The utilities provider can be reached via phone at 218-279-5000.