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NYSE:ALE

ALLETE Stock Forecast, Price & News

$52.30
+0.55 (+1.06 %)
(As of 09/22/2020 12:00 AM ET)
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Compare
Today's Range
$51.43
Now: $52.30
$52.71
50-Day Range
$50.36
MA: $54.94
$60.46
52-Week Range
$48.22
Now: $52.30
$88.60
Volume320,828 shs
Average Volume371,251 shs
Market Capitalization$2.71 billion
P/E Ratio16.19
Dividend Yield4.77%
Beta0.29
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.
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ALLETE logo

Beat the Market (BTM) Rank

Analyst Opinion: 2.0Community Rank: 2.1Dividend Strength: 3.3Insider Behavior: 1.0Valuation: 1.9 5 -4 -3 -2 -1 -

Overall Beat the Market Rank

2.06 out of 5 stars


Industry, Sector and Symbol

Industry Electric & other services combined
Sub-IndustryElectric Utilities
SectorUtilities
CUSIP01852230
Phone218-279-5000

Debt

Price-To-Earnings

Sales & Book Value

Annual Sales$1.24 billion
Cash Flow$7.09 per share
Book Value$45.20 per share

Profitability

Net Income$185.60 million

Miscellaneous

Employees1,339
Market Cap$2.71 billion
Next Earnings Date11/4/2020 (Estimated)
OptionableOptionable
$52.30
+0.55 (+1.06 %)
(As of 09/22/2020 12:00 AM ET)
30 days | 90 days | 365 days | Advanced Chart

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ALLETE (NYSE:ALE) Frequently Asked Questions

How has ALLETE's stock price been impacted by Coronavirus?

ALLETE's stock was trading at $69.55 on March 11th, 2020 when Coronavirus reached pandemic status according to the World Health Organization. Since then, ALE shares have decreased by 24.8% and is now trading at $52.30.
View which stocks have been most impacted by COVID-19
.

Do Wall Street analysts recommend investors buy shares of ALLETE?

5 Wall Street 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, 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 Wednesday, November 4th 2020.
View our earnings forecast for ALLETE
.

How were ALLETE's earnings last quarter?

ALLETE Inc (NYSE:ALE) issued its earnings results on Wednesday, August, 5th. The utilities provider reported $0.39 earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of $0.65 by $0.26. The utilities provider had revenue of $243.20 million for the quarter, compared to analyst estimates of $290.75 million. ALLETE had a net margin of 14.58% and a return on equity of 7.07%. ALLETE's quarterly revenue was down 16.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.66 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 Friday, July 31st. Shareholders of record on Friday, August 14th will be paid a dividend of $0.6175 per share on Tuesday, September 1st. This represents a $2.47 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date is Thursday, August 13th.
View ALLETE's dividend history
.

What guidance has ALLETE issued on next quarter's earnings?

ALLETE updated its FY20 earnings guidance on Wednesday, August, 5th. The company provided earnings per share guidance of $3.25-3.45 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.28.

What price target have analysts set for ALE?

5 brokers have issued twelve-month price targets for ALLETE's shares. Their forecasts range from $55.00 to $64.00. On average, they expect ALLETE's share price to reach $59.25 in the next year. This suggests a possible upside of 13.3% from the stock's current price.
View analysts' price targets for ALLETE
.

Are investors shorting ALLETE?

ALLETE saw a drop in short interest in the month of August. As of August 31st, there was short interest totaling 633,700 shares, a drop of 14.6% from the August 15th total of 742,200 shares. Based on an average trading volume of 319,800 shares, the short-interest ratio is currently 2.0 days.
View ALLETE's Short Interest
.

Who are some of ALLETE's key 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 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 IBM (IBM).

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 a variety of retail and institutional investors. Top institutional shareholders include Vanguard Group Inc. (10.32%), Principal Financial Group Inc. (2.76%), Principal Financial Group Inc. (2.75%), Goldman Sachs Group Inc. (2.19%), Victory Capital Management Inc. (2.10%) and First Trust Advisors LP (1.76%). Company insiders that own ALLETE stock include Alan R Hodnik, 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 AQR Capital Management LLC, Prudential Financial Inc., Vanguard Group Inc., Victory Capital Management Inc., FMR LLC, Goldman Sachs Group Inc., New York State Common Retirement Fund, and TD Asset Management Inc.. 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 acquired by a variety of institutional investors in the last quarter, including First Trust Advisors LP, Cubist Systematic Strategies LLC, Moody Aldrich Partners LLC, Bank of America Corp DE, Miller Howard Investments Inc. NY, Brandes Investment Partners LP, Aigen Investment Management LP, and Two Sigma Advisers LP.
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 $52.30.

How big of a company is ALLETE?

ALLETE has a market capitalization of $2.71 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 9/22/2020 by MarketBeat.com Staff

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