NYSE:ALEALLETE Stock Price, Forecast & News

ALLETE's stock was trading at $69.55 on March 11th, 2020 when COVID-19 reached pandemic status according to the World Health Organization (WHO). Since then, ALE stock has decreased by 15.2% and is now trading at $58.96. View which stocks have been most impacted by Coronavirus.

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.

ALLETE is scheduled to release its next quarterly earnings announcement on Wednesday, August 5th 2020. View our earnings forecast for ALLETE.

ALLETE will be holding an earnings conference call on Wednesday, August 5th at 12:00 AM Eastern. Interested parties can register for or listen to the call using this link or dial in at Not Available.

ALLETE Inc (NYSE:ALE) announced its earnings results on Wednesday, May, 6th. The utilities provider reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.14 by $0.14. The utilities provider had revenue of $311.60 million for the quarter, compared to analysts' expectations of $330.75 million. ALLETE had a net margin of 15.18% and a return on equity of 7.86%. The firm's revenue was down 12.8% on a year-over-year basis. During the same quarter last year, the company earned $1.18 earnings per share. View ALLETE's earnings history.

ALLETE declared a quarterly dividend on Monday, February 3rd. Shareholders of record on Friday, February 14th will be paid a dividend of $0.6175 per share on Sunday, March 1st. This represents a $2.47 annualized dividend and a yield of 4.19%. The ex-dividend date is Thursday, February 13th. This is an increase from ALLETE's previous quarterly dividend of $0.59. View ALLETE's dividend history.

5 brokerages have issued 12 month price targets for ALLETE's stock. Their forecasts range from $57.00 to $74.00. On average, they anticipate ALLETE's share price to reach $64.00 in the next year. This suggests a possible upside of 8.5% from the stock's current price. View analysts' price targets for ALLETE.

News coverage about ALE stock has trended somewhat positive recently, InfoTrie Sentiment Analysis reports. The research group identifies negative and positive media coverage by reviewing more than six thousand news and blog sources. The firm ranks coverage of publicly-traded companies on a scale of -5 to 5, with scores nearest to five being the most favorable. ALLETE earned a coverage optimism score of 1.8 on InfoTrie's scale. They also gave media headlines about the utilities provider a news buzz of 0.0 out of 10, meaning that recent media coverage is extremely unlikely to have an impact on the company's share price in the next few days. View the latest news about ALLETE.

ALLETE saw a drop in short interest in June. As of June 30th, there was short interest totaling 561,700 shares, a drop of 22.0% from the June 15th total of 720,000 shares. Based on an average daily volume of 451,500 shares, the days-to-cover ratio is currently 1.2 days. Currently, 1.1% of the company's shares are sold short. View ALLETE's Current Options Chain.

Some companies that are related to ALLETE include NextEra Energy (NEE), Duke Energy (DUK), Southern (SO), American Electric Power (AEP), Exelon (EXC), Xcel Energy (XEL), Eversource Energy (ES), FirstEnergy (FE), Edison International (EIX), Entergy (ETR), PPL (PPL), Pinnacle West Capital (PNW), OGE Energy (OGE), IDACORP (IDA) and Hawaiian Electric Industries (HE). View all competitors.

Based on aggregate information from My MarketBeat watchlists, some companies that other ALLETE investors own include Hawkins (HWKN), Ameren (AEE), AT&T (T), United Parcel Service (UPS), Verizon Communications (VZ), BlackRock (BLK), TC Pipelines (TCP), AbbVie (ABBV), Starbucks (SBUX) and Activision Blizzard (ATVI).

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

ALLETE's stock is owned by a variety of institutional and retail investors. Top institutional shareholders include Envestnet Asset Management Inc. (0.04%) and Louisiana State Employees Retirement System (0.02%). Company insiders that own ALLETE stock include Alan R Hodnik, James J Hoolihan, Kathryn W Dindo, Madeleine W Ludlow and Robert John Adams. View institutional ownership trends for ALLETE.

ALE stock was sold by a variety of institutional investors in the last quarter, including Envestnet 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.

ALE stock was bought by a variety of institutional investors in the last quarter, including Louisiana State Employees Retirement System. View insider buying and selling activity for 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.

One share of ALE stock can currently be purchased for approximately $58.96.

ALLETE has a market capitalization of $3.05 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.

The official website for ALLETE is www.allete.com.

ALLETE's mailing address is 30 W SUPERIOR STREET, DULUTH MN, 55802. The utilities provider can be reached via phone at 218-279-5000.