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DOW   32,223.42
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S&P 500   4,008.01
DOW   32,223.42
QQQ   298.44
S&P 500   4,008.01
DOW   32,223.42
QQQ   298.44
S&P 500   4,008.01
DOW   32,223.42
QQQ   298.44
NYSE:ALE

ALLETE (ALE) Stock Forecast, Price & News

$60.94
+0.55 (+0.91%)
(As of 05/16/2022 04:00 PM ET)
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Today's Range
$59.82
$61.03
50-Day Range
$58.52
$67.74
52-Week Range
$56.84
$73.10
Volume
327,005 shs
Average Volume
308,880 shs
Market Capitalization
$3.25 billion
P/E Ratio
17.51
Dividend Yield
4.31%
Beta
0.62
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ALLETE logo

About ALLETE

ALLETE, Inc. operates as an energy company. The company operates through Regulated Operations, ALLETE Clean Energy, and Corporate and Other segments. It generates electricity from coal-fired, biomass co-fired / natural gas, hydroelectric, wind, and solar. The company provides regulated utility electric 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 15 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 1,000 megawatts of wind energy generation facility. Further, it is involved in the coal mining operations in North Dakota; and real estate investment activities in Florida. The company owns and operates 158 substations with a total capacity of 10,066 megavolt amperes. It serves taconite mining, paper, pulp and secondary wood products, pipeline, and other industries. The company was formerly known as Minnesota Power, Inc. and changed its name to ALLETE, Inc. in May 2001. ALLETE, Inc. was incorporated in 1906 and is headquartered in Duluth, Minnesota.

Headlines

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Industry, Sector and Symbol

Industry
Electric & other services combined
Sub-Industry
Electric Utilities
Sector
Utilities
CUSIP
01852230
Employees
1,365
Year Founded
2015

Sales & Book Value

Annual Sales
$1.42 billion
Cash Flow
$7.67 per share
Book Value
$56.04 per share

Profitability

Net Income
$169.20 million
Pretax Margin
8.23%

Debt

Price-To-Earnings

Miscellaneous

Free Float
53,186,000
Market Cap
$3.25 billion
Optionable
Optionable

Company Calendar

Ex-Dividend for 3/1 Dividend
2/14/2022
Dividend Payable
3/01/2022
Last Earnings
5/05/2022
Ex-Dividend for 6/1 Dividend
5/13/2022
Today
5/16/2022
Dividend Payable
6/01/2022
Next Earnings (Estimated)
8/03/2022
Fiscal Year End
12/31/2022

MarketRank

Overall MarketRank

2.40 out of 5 stars

Utilities Sector

40th out of 121 stocks

Electric & Other Services Combined Industry

11th out of 22 stocks

Analyst Opinion: 1.0Community Rank: 3.7Dividend Strength: 5.0Insider Behavior: 1.7Valuation: 0.6 5 -4 -3 -2 -1 -













ALLETE (NYSE:ALE) Frequently Asked Questions

Is ALLETE a buy right now?

1 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for ALLETE in the last year. There are currently 1 hold 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.

Are investors shorting ALLETE?

ALLETE saw a increase in short interest during the month of April. As of April 15th, there was short interest totaling 1,070,000 shares, an increase of 21.7% from the March 31st total of 879,500 shares. Based on an average trading volume of 347,000 shares, the days-to-cover ratio is currently 3.1 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, August 3rd 2022.
View our earnings forecast for ALLETE
.

How were ALLETE's earnings last quarter?

ALLETE, Inc. (NYSE:ALE) issued its quarterly earnings data on Thursday, May, 5th. The utilities provider reported $1.24 EPS for the quarter, missing analysts' consensus estimates of $1.29 by $0.05. The utilities provider had revenue of $383.50 million for the quarter, compared to analyst estimates of $353.25 million. ALLETE had a trailing twelve-month return on equity of 6.23% and a net margin of 12.55%. The firm's revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.99 earnings per share.
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, April 29th. Stockholders of record on Monday, May 16th will be paid a dividend of $0.65 per share on Wednesday, June 1st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date is Friday, May 13th.
View ALLETE's dividend history
.

Is ALLETE a good dividend stock?

ALLETE pays an annual dividend of $2.60 per share and currently has a dividend yield of 4.31%. 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 13 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio of ALLETE is 74.71%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, ALLETE will have a dividend payout ratio of 66.84% 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 issued an update on its FY 2022 earnings guidance on Thursday, May, 12th. The company provided earnings per share (EPS) guidance of $3.60-$3.90 for the period, compared to the consensus estimate of $3.75. The company issued revenue guidance of -.

What price target have analysts set for ALE?

1 Wall Street analysts have issued 1-year price objectives for ALLETE's shares. Their forecasts range from $60.00 to $60.00. On average, they anticipate ALLETE's stock price to reach $60.00 in the next year. This suggests that the stock has a possible downside of 1.5%.
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:
  • Ms. Bethany M. Owen, Chair, CEO & Pres (Age 56, Pay $1.44M)
  • Mr. Steven Wayne Morris, Sr. VP & CFO (Age 60, Pay $520.73k)
  • Ms. Nicole Renee Johnson, VP & Chief Admin. Officer (Age 47, Pay $538.71k)
  • Ms. Margaret A. Thickens, VP, Chief Legal Officer & Corp. Sec. (Age 55, Pay $551.85k)
  • Mr. Robert J. Adams, Sr. VP (Age 59, Pay $849.36k)
  • Mr. Vincent J. Meyer, VP of Investor Relations
  • Jeffrey Scissons, Director of Corp. Devel.
  • Mr. Al Rudeck, Pres of Allete Clean Energy, Inc.
  • Mr. Patrick L. Cutshall C.F.A., CPA, CPA, CFA, VP & Corp. Treasurer (Age 57)
  • Mr. Rob Sandstrom, Pres of Superior Water, Light & Power
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 a variety of retail and institutional investors. Top institutional shareholders include BlackRock Inc. (11.30%), Vanguard Group Inc. (10.39%), State Street Corp (4.12%), Victory Capital Management Inc. (3.06%), Goldman Sachs Group Inc. (2.27%) and First Trust Advisors LP (1.94%).
View institutional ownership trends for ALLETE
.

Which institutional investors are selling ALLETE stock?

ALE stock was sold by a variety of institutional investors in the last quarter, including BlackRock Inc., JPMorgan Chase & Co., SG Americas Securities LLC, Bank of New York Mellon Corp, UBS Group AG, Northern Trust Corp, Metropolitan Life Insurance Co NY, and Panagora Asset Management Inc..
View insider buying and selling activity for ALLETE
or view top insider-selling stocks.

Which institutional investors are buying ALLETE stock?

ALE stock was acquired by a variety of institutional investors in the last quarter, including Invesco Ltd., State Street Corp, Heartland Advisors Inc., Vanguard Group Inc., Victory Capital Management Inc., Prudential Financial Inc., Nisa Investment Advisors LLC, and Engineers Gate Manager LP.
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 $60.94.

How much money does ALLETE make?

ALLETE has a market capitalization of $3.25 billion and generates $1.42 billion in revenue each year. The utilities provider earns $169.20 million in net income (profit) each year or $3.48 on an earnings per share basis.

How many employees does ALLETE have?

ALLETE employs 1,365 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.

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 5/17/2022 by MarketBeat.com Staff

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