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NYSE:ALE

ALLETE Stock Forecast, Price & News

$57.85
+0.61 (+1.07 %)
(As of 12/2/2020 03:59 PM ET)
Add
Compare
Today's Range
$56.62
Now: $57.85
$58.03
50-Day Range
$51.58
MA: $55.36
$60.30
52-Week Range
$48.22
Now: $57.85
$84.71
Volume8,133 shs
Average Volume351,548 shs
Market Capitalization$3.01 billion
P/E Ratio16.96
Dividend Yield4.39%
Beta0.35
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, hydroelectric, natural gas-fired, biomass co-fired, and solar. The company provides regulated utility electric service in northeastern Minnesota to approximately 145,000 retail customers, as well as 15 non-affiliated municipal customers; and regulated utility electric, natural gas, and water services in northwestern Wisconsin to approximately 15,000 electric customers, 13,000 natural gas customers, and 10,000 water 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 660 megawatt of wind energy generation. 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 8,875 megavoltamperes. 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.
ALLETE logo

Beat the Market (BTM) Rank

Analyst Opinion: 1.0Community Rank: 2.1Dividend Strength: 3.3Insider Behavior: 0.8Valuation: 2.5 5 -4 -3 -2 -1 -

Overall Beat the Market Rank

1.95 out of 5 stars


Industry, Sector and Symbol

Industry Electric & other services combined
Sub-IndustryElectric Utilities
SectorUtilities
CUSIP01852230
Phone218-279-5000
Employees1,322

Debt

Price-To-Earnings

Sales & Book Value

Annual Sales$1.24 billion
Cash Flow$7.14 per share
Book Value$47.05 per share

Profitability

Net Income$185.60 million

Miscellaneous

Market Cap$3.01 billion
Next Earnings Date2/11/2021 (Estimated)
OptionableOptionable
$57.85
+0.61 (+1.07 %)
(As of 12/2/2020 03:59 PM ET)
30 days | 90 days | 365 days | Advanced Chart

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ALLETE (NYSE:ALE) Frequently Asked Questions

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

ALLETE's stock was trading at $69.55 on March 11th, 2020 when Coronavirus (COVID-19) reached pandemic status according to the World Health Organization. Since then, ALE stock has decreased by 17.0% and is now trading at $57.73.
View which stocks have been most impacted by COVID-19
.

Do Wall Street analysts recommend investors buy shares of ALLETE?

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
or view MarketBeat's top 5 stock picks.

What stocks does MarketBeat like better than ALLETE?

Wall Street analysts have given ALLETE a "Hold" rating, but there may be better short-term opportunities in the market. Some of MarketBeat's winning trading ideas this year have resulted in 5-15% weekly gains. MarketBeat just released five new trading ideas, but ALLETE wasn't one of them. MarketBeat thinks these five stocks 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 Thursday, February 11th 2021.
View our earnings forecast for ALLETE
.

How were ALLETE's earnings last quarter?

ALLETE, Inc. (NYSE:ALE) announced its quarterly earnings results on Saturday, November, 14th. The utilities provider reported $0.78 EPS for the quarter, topping the Zacks' consensus estimate of $0.64 by $0.14. The utilities provider earned $293.90 million during the quarter, compared to analysts' expectations of $292.90 million. ALLETE had a net margin of 15.33% and a return on equity of 7.29%. The firm's quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 EPS.
View ALLETE's earnings history
.

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

ALLETE declared a quarterly dividend on Monday, November 2nd. Investors of record on Monday, November 16th will be given a dividend of $0.6175 per share on Tuesday, December 1st. This represents a $2.47 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date is Friday, November 13th.
View ALLETE's dividend history
.

What guidance has ALLETE issued on next quarter's earnings?

ALLETE issued an update on its FY20 earnings guidance on Monday, November, 9th. The company provided earnings per share (EPS) guidance of $3.25-3.45 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.33.

What price target have analysts set for ALE?

5 equities research analysts have issued 1-year price objectives for ALLETE's stock. Their forecasts range from $55.00 to $64.00. On average, they anticipate ALLETE's stock price to reach $59.25 in the next twelve months. This suggests a possible upside of 2.6% from the stock's current price.
View analysts' price targets for ALLETE
.

Are investors shorting ALLETE?

ALLETE saw a increase in short interest during the month of November. As of November 15th, there was short interest totaling 764,800 shares, an increase of 19.7% from the October 31st total of 638,700 shares. Based on an average daily volume of 312,600 shares, the days-to-cover ratio is currently 2.4 days.
View ALLETE's Short Interest
.

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).

Who are ALLETE's key executives?

ALLETE's management team includes the following people:
  • Mr. Alan R. Hodnik, Exec. Chairman (Age 60, Pay $1.5M)
  • Ms. Bethany M. Owen, CEO, Pres & Director (Age 54, Pay $601.27k)
  • Mr. Robert J. Adams, Sr. VP & CFO (Age 57, Pay $775.38k)
  • Mr. Steven Wayne Morris, VP, Controller & Chief Accounting Officer (Age 58, Pay $458.2k)
  • Ms. Nicole Renee Johnson, VP & Chief Admin. Officer (Age 45, Pay $417.94k)
  • Mr. Vincent J. Meyer, VP of Investor Relations
  • Ms. Margaret A. Thickens, VP, Chief Legal Officer & Corp. Sec. (Age 53)
  • Mr. Wade W. Boeshans, Pres & GM of BNI Energy
  • Mr. Al Rudeck, Pres of Allete Clean Energy, Inc.
  • Mr. Patrick L. Cutshall C.F.A., CPA, CPA, CFA, VP & Corp. Treasurer (Age 55)

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 number of retail and institutional investors. Top institutional shareholders include BlackRock Inc. (11.29%), State Street Corp (3.26%), Principal Financial Group Inc. (2.57%), First Trust Advisors LP (2.14%), Victory Capital Management Inc. (2.13%) and Maple Brown Abbott Ltd (1.88%). Company insiders that own ALLETE stock include Alan R Hodnik, Kathryn W Dindo, Madeleine W Ludlow and Robert John Adams.
View institutional ownership trends for ALLETE
.

Which major investors are selling ALLETE stock?

ALE stock was sold by a variety of institutional investors in the last quarter, including BlackRock Inc., Charles Schwab Investment Management Inc., Cubist Systematic Strategies LLC, Principal Financial Group Inc., Federated Hermes Inc., State Street Corp, AQR Capital Management LLC, and Miller Howard Investments Inc. NY.
View insider buying and selling activity for ALLETE
.

Which major investors are buying ALLETE stock?

ALE stock was bought by a variety of institutional investors in the last quarter, including Maple Brown Abbott Ltd, Truist Financial Corp, Massachusetts Financial Services Co. MA, First Trust Advisors LP, Wells Fargo & Company MN, Segall Bryant & Hamill LLC, Morgan Stanley, and Yaupon Capital Management LP.
View insider buying and selling activity for ALLETE
.

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 Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.

What is ALLETE's stock price today?

One share of ALE stock can currently be purchased for approximately $57.73.

How big of a company is ALLETE?

ALLETE has a market capitalization of $3.00 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 1,322 workers across the globe.

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.

This page was last updated on 12/2/2020 by MarketBeat.com Staff

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