ALLETE, Inc. (ALE)
| Market Cap | 3.73B |
| Revenue (ttm) | 1.57B |
| Net Income (ttm) | 180.20M |
| Shares Out | 57.82M |
| EPS (ttm) | 3.12 |
| PE Ratio | 20.68 |
| Forward PE | 17.27 |
| Dividend | $2.82 (4.37%) |
| Ex-Dividend Date | Nov 15, 2024 |
| Volume | 632,162 |
| Open | 64.45 |
| Previous Close | 64.60 |
| Day's Range | 64.45 - 64.75 |
| 52-Week Range | 55.86 - 65.86 |
| Beta | 0.79 |
| Analysts | Hold |
| Price Target | 62.00 (-3.88%) |
| Earnings Date | Feb 18, 2025 |
About ALE
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, biomass co-fired / natural gas, hydroelectric, wind, and solar. In addition, the company provides regulated utility electric services in northwestern Wisconsin to approximately 15,000 electric customers, 13,000 natural gas customers, and 10,000 water customers, as well as regulated utility electric services in northeastern Minnesota to approximately 150,00... [Read more]
Financial Performance
In 2023, ALLETE's revenue was $1.88 billion, an increase of 19.68% compared to the previous year's $1.57 billion. Earnings were $247.10 million, an increase of 30.53%.
Financial StatementsAnalyst Forecast
According to 4 analysts, the average rating for ALE stock is "Hold." The 12-month stock price forecast is $62.0, which is a decrease of -3.88% from the latest price.
News
ALLETE receives FERC approval for proposed transaction with Canada Pension Plan Investment Board and Global Infrastructure Partners
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE: ALE) announced that the Federal Energy Regulatory Commission (FERC) approved the company's proposed transaction with Canada Pension Plan Investment ...
Puget Sound Energy signs on to largest share of North Plains Connector transmission project
Investment is a major step forward toward enhancing the reliability and resilience of the western energy grid Investment is a major step forward toward enhancing the reliability and resilience of the ...
ALLETE Clean Energy has fully recontracted Armenia Mountain Wind
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Clean Energy has fully contracted the output of its Armenia Mountain Wind site for another seven years through agreements with two customers.
ALLETE, Inc. reports third quarter 2024 earnings
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE: ALE) today reported third quarter 2024 earnings of 78 cents per share on net income of $45.0 million. Last year's third quarter results were $1.49 p...
ALLETE Clean Energy Announces Sale of Wisconsin Wind Site
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Clean Energy today announced the company has sold the Whitetail wind project in southwestern Wisconsin to Invenergy.
ALLETE Board of Directors declares dividend on common stock
DULUTH, Minn.--(BUSINESS WIRE)--The ALLETE, Inc. (NYSE:ALE) board of directors has declared a quarterly dividend of 70.5 cents per share of common stock. On an annual basis, the dividend is equivalent...
New Energy Equity completes development of 14 Public Storage projects in Minnesota
ROSEVILLE, M.N., Oct. 17, 2024 /PRNewswire/ -- New Energy Equity, national developer and financier of community and commercial solar projects, announces the successful completion of 14 Public Storage ...
ALLETE to Announce Third Quarter Financial Results October 30
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Inc. (NYSE:ALE) will announce its financial results for the third quarter before the stock markets open on Wednesday, October 30, 2024. ALLETE, Inc. is an energy...
Minnesota Power plans two large solar projects in northern Minnesota as part of its EnergyForward strategy for carbon-free energy
DULUTH, Minn.--(BUSINESS WIRE)--Minnesota Power, a utility division of ALLETE Inc. (NYSE: ALE), announced today it plans to build two large solar projects in northern Minnesota as part of its continue...
New Energy Equity achieves Gold Certification for advancements on DEIJ issues
ANNAPOLIS, Md. , Sept. 17, 2024 /PRNewswire/ -- New Energy Equity, a wholly owned subsidiary of ALLETE Inc (NYSE:ALE), announced it has achieved Gold Certification through the Diversity Equity Inclusi...
ALLETE shareholders approve proposed transaction with Canada Pension Plan Investment Board and Global Infrastructure Partners
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE: ALE) announced that its shareholders voted today to approve the company's proposed transaction with Canada Pension Plan Investment Board (CPP Invest...
ALLETE applauds $700 million federal grant for Montana and North Plains Connector transmission project
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE applauds $700 million federal grant for Montana and North Plains Connector transmission project.
ALLETE, Inc. reports second quarter 2024 earnings
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE: ALE) today reported second quarter 2024 earnings of 57 cents per share on net income of $33.0 million. Last year's second quarter results were 90 ce...
CORRECTING and REPLACING ALLETE Board of Directors Declares Dividend on Common Stock
DULUTH, Minn.--(BUSINESS WIRE)--First paragraph, first sentence of release dated July 25, 2024 should read: The ALLETE, Inc. (NYSE:ALE) board of directors has declared a quarterly dividend of 70.5 cen...
ALLETE Board of Directors Declares Dividend on Common Stock
DULUTH, Minn.--(BUSINESS WIRE)--The ALLETE, Inc. (NYSE:ALE) board of directors has declared a quarterly dividend of 70.05 cents per share of common stock. On an annual basis, the dividend is equivalen...
ALLETE to Announce Second Quarter Financial Results August 1
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Inc. (NYSE:ALE) will announce its financial results for the second quarter before the stock markets open on Thursday, August 1, 2024. ALLETE, Inc. is an energy c...
New Analysis Quantifies Capacity Benefits of Grid United and ALLETE's North Plains Connector Interregional Transmission Line
HOUSTON--(BUSINESS WIRE)--Grid United, a leading developer of high voltage transmission infrastructure, today announced the results of a comprehensive study conducted by Astrapé Consulting, highlighti...
PGE joins Grid United and ALLETE in 3,000 megawatt east-west transmission line
The North Plains Connector transmission line will more than double the transfer capacity between the eastern and western U.S. electric grids, providing PGE access to new, diverse resources and bolster...
ALLETE, Inc. reports first quarter 2024 earnings
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE: ALE) today reported first quarter 2024 earnings of 88 cents per share on net income of $50.7 million. Last year's first quarter results were $1.02 p...
ALLETE INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of ALLETE, Inc. - ALE
NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of ALLETE, Inc. (NY...
ALERT: Rowley Law PLLC is Investigating Proposed Acquisition of ALLETE, Inc.
NEW YORK , May 6, 2024 /PRNewswire/ -- Rowley Law PLLC is investigating potential securities law violations by ALLETE, Inc. (NYSE: ALE) and its board of directors concerning the proposed acquisition o...
SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates ALE, PRFT
NEW YORK , May 6, 2024 /PRNewswire/ -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches o...
US utility Allete goes private in $6.2 bln deal
Allete said on Monday a partnership led by Canada Pension Plan Investment Board and Global Infrastructure Partners would acquire the U.S. utility for $6.2 billion, including debt.
Clean-energy producer Allete agrees to go private for $6.2 billion
Power producer Allete Inc. ALE, +5.64% said Monday it agreed to go private for $67 a share in a deal valued at about $6.2 billion including debt with buyers Canada Pension Plan Investment Board and Gl...
ALLETE Enters Agreement to be Acquired by a Partnership Led by Canada Pension Plan Investment Board and Global Infrastructure Partners to Advance ‘Sustainability-in-Action' Strategy
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE: ALE) and a partnership led by Canada Pension Plan Investment Board (“CPP Investments”) and Global Infrastructure Partners (“GIP”), (the “partnership...