NYSE:ALE

ALLETE Stock Forecast, Price & News

$60.16
-0.67 (-1.10 %)
(As of 09/20/2021 04:00 PM ET)
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Today's Range
$59.50
$60.89
50-Day Range
$60.83
$72.55
52-Week Range
$49.98
$73.10
Volume5,963 shs
Average Volume283,747 shs
Market Capitalization$3.14 billion
P/E Ratio18.80
Dividend Yield4.14%
Beta0.47
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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.

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MarketRank

Overall MarketRank

2.57 out of 5 stars

Utilities Sector

14th out of 122 stocks

Electric & Other Services Combined Industry

1st out of 22 stocks

Analyst Opinion: 2.1Community Rank: 3.9Dividend Strength: 2.5Insider Behavior: 2.5Valuation: 1.9 5 -4 -3 -2 -1 -
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ALLETE (NYSE:ALE) Frequently Asked Questions

Is ALLETE a buy right now?

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

What stocks does MarketBeat like better than ALLETE?

Wall Street analysts have given ALLETE a "Hold" rating, but there may be better buying opportunities in the stock market. Some of MarketBeat's past winning trading ideas have resulted in 5-15% weekly gains. MarketBeat just released five new stock ideas, but ALLETE wasn't one of them. MarketBeat thinks these five companies may be even better buys.
View MarketBeat's top stock picks here.

When is ALLETE's next earnings date?

ALLETE is scheduled to release its next quarterly earnings announcement on Monday, November 8th 2021.
View our earnings forecast for ALLETE
.

How were ALLETE's earnings last quarter?

ALLETE, Inc. (NYSE:ALE) issued its quarterly earnings results on Tuesday, August, 3rd. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.01. The utilities provider had revenue of $335.60 million for the quarter, compared to the consensus estimate of $282.90 million. ALLETE had a net margin of 12.99% and a trailing twelve-month return on equity of 6.13%. The company's revenue for the quarter was up 38.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.39 EPS.
View ALLETE's earnings history
.

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

ALLETE's stock was trading at $69.55 on March 11th, 2020 when COVID-19 (Coronavirus) reached pandemic status according to the World Health Organization (WHO). Since then, ALE shares have decreased by 14.2% and is now trading at $59.65.
View which stocks have been most impacted by COVID-19
.

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

ALLETE announced a quarterly dividend on Thursday, July 29th. Shareholders of record on Monday, August 16th will be given a dividend of $0.63 per share on Wednesday, September 1st. This represents a $2.52 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date of this dividend is Friday, August 13th.
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 4.14%. ALE has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The dividend payout ratio of ALLETE is 75.22%. 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 65.63% 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 2021 earnings guidance on Wednesday, August, 25th. The company provided EPS guidance of $3.000-$3.300 for the period, compared to the Thomson Reuters consensus estimate of $3.180. The company issued revenue guidance of -.

What price target have analysts set for ALE?

4 brokers have issued 1-year target prices for ALLETE's shares. Their forecasts range from $62.00 to $74.00. On average, they anticipate ALLETE's share price to reach $67.33 in the next twelve months. This suggests a possible upside of 12.9% 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.

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), The 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 investors include BlackRock Inc. (13.63%), Vanguard Group Inc. (10.21%), State Street Corp (3.50%), Victory Capital Management Inc. (2.47%), Macquarie Group Ltd. (2.27%) and Principal Financial Group Inc. (2.00%). Company insiders that own ALLETE stock include Alan R Hodnik, Heidi E Jimmerson, Madeleine W Ludlow and Robert John Adams.
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 FMR LLC, JPMorgan Chase & Co., Millennium Management LLC, Massachusetts Financial Services Co. MA, Bank of America Corp DE, Russell Investments Group Ltd., Dimensional Fund Advisors LP, and California Public Employees Retirement System.
View insider buying and selling activity for ALLETE
or view top insider-selling stocks.

Which institutional investors are buying ALLETE stock?

ALE stock was purchased by a variety of institutional investors in the last quarter, including BlackRock Inc., OLD Republic International Corp, Brookfield Asset Management Inc., Goldman Sachs Group Inc., Vanguard Group Inc., Northern Trust Corp, Invesco Ltd., and Victory Capital Management 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 $59.65.

How much money does ALLETE make?

ALLETE has a market capitalization of $3.12 billion and generates $1.17 billion in revenue each year. The utilities provider earns $174.20 million in net income (profit) each year or $3.35 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.


This page was last updated on 9/20/2021 by MarketBeat.com Staff
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