ALLETE - ALE Stock Forecast, Price & News

5 Wall Street equities research 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. The consensus among Wall Street equities 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.

5 brokerages have issued 1 year price objectives for ALLETE's shares. Their ALE share price forecasts range from $54.00 to $66.00. On average, they anticipate the company's share price to reach $62.80 in the next twelve months. This suggests that the stock has a possible downside of 2.0%.
View analysts price targets for ALE or view top-rated stocks among Wall Street analysts.

ALLETE's stock was trading at $64.51 on January 1st, 2023. Since then, ALE shares have decreased by 0.7% and is now trading at $64.05.
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ALLETE saw a increase in short interest in the month of February. As of February 28th, there was short interest totaling 1,020,000 shares, an increase of 9.1% from the February 13th total of 934,600 shares. Based on an average daily volume of 324,700 shares, the short-interest ratio is currently 3.1 days.
View ALLETE's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Thursday, May 4th 2023.
View our ALE earnings forecast.

ALLETE, Inc. (NYSE:ALE) issued its quarterly earnings data on Thursday, February, 16th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.11 by $0.21. The utilities provider had revenue of $425.80 million for the quarter, compared to analysts' expectations of $404.81 million. ALLETE had a trailing twelve-month return on equity of 5.73% and a net margin of 12.05%. The company's revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.18 earnings per share.

ALLETE declared a quarterly dividend on Friday, February 3rd. Stockholders of record on Wednesday, February 15th will be given a dividend of $0.678 per share on Wednesday, March 1st. This represents a $2.71 annualized dividend and a yield of 4.23%. The ex-dividend date of this dividend is Tuesday, February 14th. This is a boost from the stock's previous quarterly dividend of $0.65.
Read our dividend analysis for ALE.

ETFs with the largest weight of ALLETE (NYSE:ALE) stock in their portfolio include SPDR S&P Kensho Clean Power ETF (CNRG), Invesco High Yield Equity Dividend Achievers ETF (PEY), KFA Value Line Dynamic Core Equity Index ETF (KVLE), VictoryShares US Small Cap High Div Volatility Wtd ETF (CSB), Invesco S&P MidCap Low Volatility ETF (XMLV), Global X Alternative Income ETF (ALTY), InfraCap Equity Income Fund ETF (ICAP) and ProShares Russell 2000 Dividend Growers ETF (SMDV).

ALLETE (NYSE:ALE) pays an annual dividend of $2.71 per share and currently has a dividend yield of 4.28%. ALE has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The company 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 is 79.71%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, ALE will have a dividend payout ratio of 67.41% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for ALE.

ALLETE updated its FY 2023 earnings guidance on Monday, February, 20th. The company provided earnings per share guidance of $3.55-$3.85 for the period, compared to the consensus earnings per share estimate of $3.84. 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 a variety of retail and institutional investors. Top institutional investors include Victory Capital Management Inc. (2.92%), Victory Capital Management Inc. (2.91%), ATLAS Infrastructure Partners UK Ltd. (2.64%), Macquarie Group Ltd. (2.32%), First Trust Advisors LP (2.27%) and Geode Capital Management LLC (1.85%).
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 $64.05.

ALLETE (NYSE:ALE) has a market capitalization of $3.67 billion and generates $1.57 billion in revenue each year. The utilities provider earns $189.30 million in net income (profit) each year or $3.40 on an earnings per share basis.

The company employs 1,494 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.