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NYSE:ALE

ALLETE Stock Forecast, Price & News

$62.70
-0.05 (-0.08%)
(As of 01/27/2022 01:09 PM ET)
Add
Compare
Today's Range
$62.63
$64.05
50-Day Range
$58.63
$67.74
52-Week Range
$56.84
$73.10
Volume
3,792 shs
Average Volume
244,022 shs
Market Capitalization
$3.30 billion
P/E Ratio
21.25
Dividend Yield
4.02%
Beta
0.57
30 days | 90 days | 365 days | Advanced Chart
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ALLETE logo

About ALLETE

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 owns and maintains 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.

Headlines

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Industry, Sector and Symbol

Industry
Electric & other services combined
Sub-Industry
Electric Utilities
Sector
Utilities
CUSIP
01852230
Employees
1,342
Year Founded
2015

Sales & Book Value

Annual Sales
$1.17 billion
Cash Flow
$7.41 per share
Book Value
$53.88 per share

Profitability

Net Income
$174.20 million
Pretax Margin
7.43%

Debt

Price-To-Earnings

Miscellaneous

Free Float
52,409,000
Market Cap
$3.30 billion
Optionable
Optionable

Company Calendar

Last Earnings
11/04/2021
Ex-Dividend for 12/1 Dividend
11/12/2021
Dividend Payable
12/01/2021
Today
1/27/2022
Next Earnings (Confirmed)
2/16/2022
Fiscal Year End
12/31/2022

MarketRank

Overall MarketRank

2.55 out of 5 stars

Utilities Sector

28th out of 120 stocks

Electric & Other Services Combined Industry

7th out of 22 stocks

Analyst Opinion: 1.2Community Rank: 3.9Dividend Strength: 4.2Insider Behavior: 1.7Valuation: 1.9 5 -4 -3 -2 -1 -












ALLETE (NYSE:ALE) Frequently Asked Questions

Is ALLETE a buy right now?

3 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 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.

How has ALLETE's stock price been impacted by Coronavirus (COVID-19)?

ALLETE's stock was trading at $69.55 on March 11th, 2020 when Coronavirus (COVID-19) reached pandemic status according to the World Health Organization. Since then, ALE shares have decreased by 9.8% and is now trading at $62.70.
View which stocks have been most impacted by COVID-19
.

Are investors shorting ALLETE?

ALLETE saw a decrease in short interest in the month of December. As of December 31st, there was short interest totaling 401,900 shares, a decrease of 20.1% from the December 15th total of 502,700 shares. Based on an average trading volume of 281,500 shares, the short-interest ratio is currently 1.4 days.
View ALLETE's Short Interest
.

When is ALLETE's next earnings date?

ALLETE is scheduled to release its next quarterly earnings announcement on Wednesday, February 16th 2022.
View our earnings forecast for ALLETE
.

How can I listen to ALLETE's earnings call?

ALLETE will be holding an earnings conference call on Wednesday, February 16th at 10:00 AM Eastern. Interested parties can register for or listen to the call using this link or dial in at 855-859-2056 with passcode "1993529".

How were ALLETE's earnings last quarter?

ALLETE, Inc. (NYSE:ALE) issued its earnings results on Thursday, November, 4th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate 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 trailing twelve-month return on equity of 5.44% and a net margin of 11.52%. The company's quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.78 EPS.
View ALLETE's earnings history
.

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

ALLETE announced a quarterly dividend on Monday, November 1st. Shareholders of record on Monday, November 15th will be paid a dividend of $0.63 per share on Wednesday, December 1st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date is Friday, November 12th.
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 4.02%. ALE has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. ALLETE has been increasing its dividend for 12 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio of ALLETE is 85.42%. 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 65.28% 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 updated its FY 2021 earnings guidance on Thursday, November, 18th. The company provided EPS guidance of $3.000-$3.300 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.150. The company issued revenue guidance of -.

What price target have analysts set for ALE?

3 brokers have issued 1 year price targets for ALLETE's stock. Their forecasts range from $63.00 to $74.00. On average, they expect ALLETE's share price to reach $68.50 in the next twelve months. This suggests a possible upside of 9.3% from the stock's current price.
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:
  • Bethany M. Owen, Chairman, President & Chief Executive Officer
  • Robert J. Adams, Chief Financial Officer & Senior Vice President
  • Patrick L. Cutshall, Treasurer & Vice President
  • Nicole R. Johnson, Chief Administrative Officer & Vice President
  • Steven W. Morris, Chief Accounting Officer, VP & Controller

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.

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 many different institutional and retail investors. Top institutional investors include Frontier Capital Management Co. LLC (0.75%), Russell Investments Group Ltd. (0.47%), Deroy & Devereaux Private Investment Counsel Inc. (0.44%), Retirement Systems of Alabama (0.38%), New York State Teachers Retirement System (0.17%) and Louisiana State Employees Retirement System (0.03%). Company insiders that own ALLETE stock include Heidi E Jimmerson 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 Russell Investments Group Ltd., State of Alaska Department of Revenue, Frontier Capital Management Co. LLC, Strs Ohio, AdvisorNet Financial Inc, Eagle Bay Advisors LLC, and John G Ullman & Associates Inc..
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 Deroy & Devereaux Private Investment Counsel Inc., New York State Teachers Retirement System, Wedge Capital Management L L P NC, OLD National Bancorp IN, Kestra Advisory Services LLC, Retirement Systems of Alabama, Van ECK Associates Corp, and Crossmark Global Holdings Inc..
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 $62.70.

How much money does ALLETE make?

ALLETE has a market capitalization of $3.30 billion and generates $1.17 billion in revenue each year. The utilities provider earns $174.20 million in net income (profit) each year or $2.95 on an earnings per share basis.

How many employees does ALLETE have?

ALLETE employs 1,342 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 or via fax at 218-723-3944.


This page was last updated on 1/27/2022 by MarketBeat.com Staff

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