ALLETE Stock Forecast, Price & News

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.

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

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.

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.

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.

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.

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 -.

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.

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.

Some companies that are related to ALLETE include NextEra Energy (NEE), Duke Energy (DUK), The Southern (SO), Eversource Energy (ES), PPL (PPL), Entergy (ETR), Edison International (EIX), FirstEnergy (FE), Pinnacle West Capital (PNW), OGE Energy (OGE), IDACORP (IDA), Hawaiian Electric Industries (HE), Portland General Electric (POR), PNM Resources (PNM) and MGE Energy (MGEE).
View all of ALE's competitors.

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).

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 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.

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.

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.

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.
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One share of ALE stock can currently be purchased for approximately $59.65.

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.

ALLETE employs 1,342 workers across the globe.

ALLETE was founded in 2015.

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

ALLETE is headquartered at 30 W SUPERIOR STREET, DULUTH MN, 55802.

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