ALLETE - ALE Stock Forecast, Price & News

4 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for ALLETE in the last twelve months. There are currently 3 hold ratings and 1 buy rating for the stock. The consensus among Wall Street 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.

4 Wall Street analysts have issued 1-year price targets for ALLETE's stock. Their ALE share price forecasts range from $50.00 to $66.00. On average, they expect the company's stock price to reach $58.00 in the next twelve months. This suggests that the stock has a possible downside of 12.0%.
View analysts price targets for ALE or view top-rated stocks among Wall Street analysts.

ALLETE's stock was trading at $66.35 at the start of the year. Since then, ALE stock has decreased by 0.7% and is now trading at $65.90.
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ALLETE saw a decrease in short interest in the month of November. As of November 15th, there was short interest totaling 935,300 shares, a decrease of 22.7% from the October 31st total of 1,210,000 shares. Based on an average trading volume of 355,000 shares, the days-to-cover ratio is currently 2.6 days.
View ALLETE's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Wednesday, February 15th 2023.
View our ALE earnings forecast.

ALLETE, Inc. (NYSE:ALE) released its quarterly earnings results on Thursday, November, 4th. The utilities provider reported $0.53 earnings per share for the quarter, missing analysts' consensus estimates of $0.71 by $0.18. The utilities provider had revenue of $345.70 million for the quarter, compared to the consensus estimate of $300.20 million. ALLETE had a net margin of 12.92% and a trailing twelve-month return on equity of 6.23%. The business's revenue for the quarter was up 17.6% on a year-over-year basis. During the same period last year, the business earned $0.78 EPS.

ALLETE announced a quarterly dividend on Friday, October 28th. Shareholders of record on Tuesday, November 15th will be given a dividend of $0.65 per share on Thursday, December 1st. This represents a $2.60 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend is Monday, November 14th.
Read our dividend analysis for ALE.

ALLETE (NYSE:ALE) pays an annual dividend of $2.60 per share and currently has a dividend yield of 3.94%. The company has been increasing its dividend for 11 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 64.52% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for ALE.

ALLETE issued an update on its FY 2022 earnings guidance on Wednesday, November, 9th. The company provided earnings per share (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 -.

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.

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).

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

ALLETE's stock is owned by many different institutional and retail investors. Top institutional investors include BlackRock Inc. (11.69%), Vanguard Group Inc. (10.75%), State Street Corp (4.21%), ATLAS Infrastructure Partners UK Ltd. (3.42%), Victory Capital Management Inc. (2.95%) and First Trust Advisors LP (2.15%). Insiders that own company stock include Heidi E Jimmerson and Robert John Adams.
View institutional ownership trends.

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.
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One share of ALE stock can currently be purchased for approximately $65.90.

ALLETE (NYSE:ALE) has a market capitalization of $3.77 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.

The company employs 1,365 workers across the globe.

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.