ALLETE, Inc. (ALE)

NYSE: ALE · IEX Real-Time Price · USD
59.64
+0.82 (1.39%)
Mar 28, 2024, 4:00 PM EDT - Market closed
1.39%
Market Cap 3.41B
Revenue (ttm) 1.88B
Net Income (ttm) 247.10M
Shares Out 57.58M
EPS (ttm) 4.30
PE Ratio 13.81
Forward PE 15.59
Dividend $2.82 (4.73%)
Ex-Dividend Date Feb 14, 2024
Volume 168,338
Open 59.07
Previous Close 58.82
Day's Range 58.74 - 59.76
52-Week Range 49.29 - 66.69
Beta 0.74
Analysts Hold
Price Target 58.60 (-1.74%)
Earnings Date May 1, 2024

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]

Sector Utilities
CEO Ms. Bethany M. Owen
Employees 1,560
Stock Exchange NYSE
Ticker Symbol ALE
Full Company Profile

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 Statements

Analyst Forecast

According to 5 analysts, the average rating for ALE stock is "Hold." The 12-month stock price forecast is $58.6, which is a decrease of -1.74% from the latest price.

Price Target
$58.6
(-1.74% downside)
Analyst Consensus: Hold
Stock Forecasts

News

New Energy Equity announces Tim Ahrens as Senior Vice President of Development

ANNAPOLIS, Md. , Feb. 27, 2024 /PRNewswire/ -- New Energy Equity, national developer and financier of community and commercial solar projects, has named Tim Ahrens as its Senior Vice President of Deve...

4 weeks ago - PRNewsWire

ALLETE, Inc. reports 2023 earnings of $4.30 per share; clean energy transition drives $4.3 billion capital investment plan over the next five years

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE: ALE) today reported 2023 earnings of $4.30 per share on net income of $247.1 million and operating revenue of $1.9 billion. Reported results from 20...

5 weeks ago - Business Wire

Minnesota Power advances EnergyForward with request for proposals for up to 400 megawatts of wind energy

DULUTH, Minn.--(BUSINESS WIRE)--Minnesota Power, a utility division of ALLETE Inc. (NYSE: ALE), has issued a Request for Proposals (RFP) for up to 400 megawatts of wind energy to come online by the en...

6 weeks ago - Business Wire

ALLETE to announce 2023 financial results on February 20

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Inc. (NYSE:ALE) will announce its financial results for 2023 before the stock markets open on Tuesday, February 20, 2024. Following the release, ALLETE Chair, Pr...

7 weeks ago - Business Wire

New Energy Equity names Jackie Chambers as chief investment officer

ANNAPOLIS, Md. , Feb. 7, 2024 /PRNewswire/ -- New Energy Equity, national developer and financier of community and commercial solar projects, has welcomed Jackie Chambers to its leadership team as chi...

7 weeks ago - PRNewsWire

ALLETE Board of Directors raises quarterly common stock dividend

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE:ALE) today announced that its Board of Directors has increased the quarterly dividend on the company's common stock to $0.705 per share, a 4.1% perce...

2 months ago - Business Wire

New Energy Equity raises $200,000 for Folds of Honor

ANNAPOLIS, Md. , Jan. 16, 2024 /PRNewswire/ --  New Energy Equity  LLC, a national developer of community and commercial solar projects, has donated $200,000 to  Folds of Honor  through its Lift as We...

2 months ago - PRNewsWire

ALLETE, Grid United sign development agreements for advancing new HVDC transmission line in North Dakota and Montana

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE and Grid United this week signed development agreements for the North Plains Connector project.

3 months ago - Business Wire

Exclusive: US power utility Allete explores sale, sources say

Allete , a U.S. power utility and renewable energy developer that has a market value of about $5 billion, including debt, is exploring a sale of the company, people familiar with the matter said on Tu...

4 months ago - Reuters

Minnesota Power Advances EnergyForward with Request for Proposals for up to 300 Megawatts of Solar Energy

DULUTH, Minn.--(BUSINESS WIRE)--Minnesota Power, a utility division of ALLETE Inc. (NYSE: ALE), took an important step in advancing its EnergyForward vision for 100% carbon-free energy with the issuan...

4 months ago - Business Wire

ALLETE, Inc. reports third quarter earnings of $1.49 per share; raises full-year 2023 earnings guidance to a range of $4.30 to $4.40 per share reflecting increased earnings from ALLETE Clean Energy

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE: ALE) today reported third quarter 2023 earnings of $1.49 per share on net income of $85.9 million. Last year's third quarter results were 59 cents p...

5 months ago - Business Wire

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 67.75 cents per share of common stock. On an annual basis, the dividend is equivalen...

5 months ago - Business Wire

ALLETE to announce third quarter financial results November 2

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Inc. (NYSE:ALE) will announce its financial results for the third quarter before the stock markets open on Thursday, November 2, 2023. Following the release, ALL...

6 months ago - Business Wire

ALLETE, Inc. reports second quarter earnings of 90 cents per share; reaffirms 2023 earnings guidance range of $3.55 to $3.85 per share

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE: ALE) today reported second quarter 2023 earnings of 90 cents per share on net income of $51.5 million. Last year's second quarter results were 67 ce...

8 months ago - Business Wire

ALLETE Clean Energy adds new customer segment through power purchase agreement with Seattle City Light

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Clean Energy has signed a 5-year power purchase agreement to sell wind power to Seattle City Light, the company's first municipal customer.

8 months ago - Business Wire

ALLETE to announce second quarter financial results August 8

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Inc. (NYSE:ALE) will announce its financial results for the second quarter before the stock markets open on Tuesday, August 8, 2023. Following the release, ALLET...

9 months ago - Business Wire

Minnesota Power advances HVDC transmission system project to strengthen grid reliability, resiliency in Upper Midwest

DULUTH, Minn.--(BUSINESS WIRE)--To help ensure a reliable and resilient grid that can expand in the future, Minnesota Power this week outlined planned upgrades to its high-voltage, direct-current (HVD...

10 months ago - Business Wire

ALLETE advances most transformative growth strategy in company history

DULUTH, Minn.--(BUSINESS WIRE)--With momentum on its side, ALLETE Inc.'s (NYSE:ALE) sustainability-in-action strategy is securing the company's place as a national leader in the transition to a clean-...

11 months ago - Business Wire

ALLETE, Inc. reports first quarter earnings of $1.02 per share

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE: ALE) today reported first quarter 2023 earnings of $1.02 per share on net income of $58.2 million. Last year's first quarter results were $1.24 per ...

11 months ago - Business Wire

ALLETE among Minnesota companies honored for gender parity in boardroom, among executive officers

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Inc. (NYSE:ALE) has again been included among a group of Minnesota companies recognized for gender diversity in their top leadership ranks. ALLETE has been named...

1 year ago - Business Wire

ALLETE to announce first quarter financial results May 3

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Inc. (NYSE:ALE) will announce its financial results for the first quarter before the stock markets open on Wednesday, May 3, 2023. Following the release, ALLETE ...

1 year ago - Business Wire

ALLETE Clean Energy closes on sale of Wisconsin wind project to WPS and MGE

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Clean Energy, a wholly owned subsidiary of ALLETE, Inc. (NYSE: ALE), today announced the company has closed on the sale of the Red Barn project to WEC Energy Gro...

1 year ago - Business Wire

ALLETE, Inc. Reports 2022 Earnings of $3.38 Per Share; Initiates 2023 Earnings Guidance Range of $3.55 to $3.85 Per Share

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE: ALE) today reported 2022 earnings of $3.38 per share on net income of $189.3 million and operating revenue of $1.6 billion. Reported results from 20...

1 year ago - Business Wire

ALLETE, Grid United join forces to develop key transmission link to enhance reliability of the nation's electric grid

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE:ALE) and Grid United today announced their intent to jointly develop the North Plains Connector, a new, approximately 385-mile high-voltage direct-...

1 year ago - Business Wire

Minnesota Public Utilities Commission Sets New Rates for Minnesota Power

DULUTH, Minn.--(BUSINESS WIRE)--The Minnesota Public Utilities Commission (MPUC) on Monday approved a rate increase of approximately $59 million, or approximately 9%, that Minnesota Power, a utility...

1 year ago - Business Wire