ALLETE, Inc. (ALE)

NYSE: ALE · IEX Real-Time Price · USD
52.62
+1.06 (2.06%)
Oct 4, 2022 4:00 PM EDT - Market closed
2.06%
Market Cap 2.92B
Revenue (ttm) 1.50B
Net Income (ttm) 193.40M
Shares Out 55.40M
EPS (ttm) 3.59
PE Ratio 14.66
Forward PE 14.27
Dividend $2.58 (4.90%)
Ex-Dividend Date Aug 12, 2022
Volume 218,220
Open 51.56
Previous Close 51.56
Day's Range 51.56 - 52.78
52-Week Range 49.89 - 68.61
Beta 0.61
Analysts Hold
Price Target 67.90 (+29.0%)
Earnings Date Nov 2, 2022

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. 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 145,000 retail cust... [Read more...]

Industry Electric Utilities
Employees 1,428
Stock Exchange NYSE
Ticker Symbol ALE
Full Company Profile

Financial Performance

In 2021, ALLETE's revenue was $1.42 billion, an increase of 21.39% compared to the previous year's $1.17 billion. Earnings were $169.20 million, a decrease of -2.87%.

Financial Statements

Analyst Forecast

According to 14 analysts, the average rating for ALE stock is "Hold." The 12-month stock price forecast is 67.9, which is an increase of 29.04% from the latest price.

Price Target
$67.9
(29.04% upside)
Analyst Consensus: Hold
Stock Forecasts

News

Why Allete (ALE) is a Great Dividend Stock Right Now

Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Allete (ALE) have what it takes?

1 day ago - Zacks Investment Research

These 7 Utilities Are Worth A Look

Utility stocks—the “OGs of dividend payers”—have sailed through 2022.

Other symbols: AVANWENWNOGEPNWSR
3 weeks ago - Forbes

Leadership Roles Change as ALLETE Positions for Continued Success

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Inc. (NYSE:ALE) today announced several key leadership changes as the company continues to advance its sustainability in action strategy. Nicole Johnson has been n...

1 month ago - Business Wire

Allete (ALE) Q2 Earnings and Revenues Beat Estimates

Allete (ALE) delivered earnings and revenue surprises of 6.35% and 6.56%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?

2 months ago - Zacks Investment Research

ALLETE, Inc. Reports Second Quarter Earnings of 67 Cents Per Share, Reaffirms 2022 Earnings Guidance Range of $3.60 -...

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE: ALE) today reported second quarter 2022 earnings of 67 cents per share on net income of $37.6 million. Last year's results were 53 cents per share on ...

2 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 65 cents per share of common stock. On an annual basis, the dividend is equivalent to ...

2 months ago - Business Wire

Allete (ALE) Earnings Expected to Grow: Should You Buy?

Allete (ALE) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

2 months ago - Zacks Investment Research

Minnesota Power and Great River Energy to Build Transmission Line to Bolster Electric Reliability in Northern Minnesota

DULUTH, Minn.--(BUSINESS WIRE)--Minnesota Power and Great River Energy today announced their intent to build a transmission line from northern Minnesota to central Minnesota.

2 months ago - Business Wire

ALE vs. EXC: Which Stock Should Value Investors Buy Now?

ALE vs. EXC: Which Stock Is the Better Value Option?

Other symbols: EXC
2 months ago - Zacks Investment Research

ALLETE to Announce Second Quarter Financial Results August 3

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Inc. (NYSE:ALE) will announce its financial results for the second quarter before the stock markets open on Wednesday, August 3, 2022. Following the release, ALLET...

2 months ago - Business Wire

Charles Matthews Named to ALLETE Board of Directors

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Inc.'s board of directors has elected Charles Matthews to serve on the board effective July 6, 2022.

Other symbols: WEC
2 months ago - Business Wire

4 Reasons to Add ALLETE (ALE) to Your Portfolio Right Now

ALLETE (ALE) makes a good case for investment in the utility space, given its systematic capital expenditure, growth in earnings estimates and proper management of debts.

4 months ago - Zacks Investment Research

Allete (ALE) Q1 Earnings Lag Estimates

Allete (ALE) delivered earnings and revenue surprises of -3.88% and 4.68%, respectively, for the quarter ended March 2022. Do the numbers hold clues to what lies ahead for the stock?

4 months ago - Zacks Investment Research

ALLETE, Inc. Reports First Quarter Earnings of $1.24 Per Share

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. today reported first quarter 2022 earnings of $1.24 per share on net income of $66.3 million.

4 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 65 cents per share of common stock.

5 months ago - Business Wire

ALLETE Recognized as a Minnesota Company of Special Distinction for Its Commitment to Advancing Women in Leadership R...

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Inc. (NYSE:ALE) has been recognized as a company of Special Distinction in a women's corporate leadership census of Minnesota's largest public companies. It is the...

5 months ago - Business Wire

3 Income-Generating Stocks that Shout ‘Buy Me!'

These are the best income generating stocks to invest in now. ALE, LYB, and NWE can make great investments in the coming months.

Other symbols: LYBNWE
5 months ago - InvestorPlace

ALLETE Closes Acquisition of New Energy Equity, a Leading Solar Development Company

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. today announced it has closed the acquisition of New Energy Equity, a top distributed solar developer, for approximately $165.5 million.

5 months ago - Business Wire

ALLETE to Announce First Quarter Financial Results May 5

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE:ALE) will announce its financial results for the first quarter before the stock markets open on Thursday, May 5, 2022. Following the release, ALLETE Ch...

5 months ago - Business Wire

ALLETE Announces Pricing of Upsized Common Stock Offering

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE:ALE) (the “Company”) today announced the pricing of an underwritten public offering of 3,200,000 shares of its common stock at $63.00 per share. The si...

6 months ago - Business Wire

ALLETE Announces Offering of Common Stock

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE:ALE) (the “Company”) today announced that it plans to commence an underwritten public offering of up to 2,950,000 shares of its common stock, subject t...

6 months ago - Business Wire

IPS Solar Acquired by New Energy Equity

ROSEVILLE, Minn., March 3, 2022 /PRNewswire/ -- Impact Power Solutions (IPS Solar) announced on Thursday it was being acquired by  New Energy Equity LLC.

7 months ago - PRNewsWire

ALLETE Advances Solar Strategy by Acquiring New Energy Equity, a Leading Solar Development Company

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE advances solar strategy by acquiring New Energy Equity, a leading solar development company

7 months ago - Business Wire

ALLETE, Inc. Reports 2021 Earnings of $3.23 Per Share; Initiates 2022 Earnings Guidance Range of $3.60 to 3.90 Per Share

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. reports 2021 earnings of $3.23 per share; initiates 2022 earnings guidance range of $3.60 to 3.90 per share

7 months ago - Business Wire

ALLETE Names Steven W. Morris Senior Vice President and Chief Financial Officer

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE names Steven W. Morris Senior Vice President and Chief Financial Officer

7 months ago - Business Wire