ALLETE, Inc. (ALE)

NYSE: ALE · Real-Time Price · USD
64.83
+0.01 (0.02%)
Dec 11, 2024, 4:00 PM EST - Market closed
0.02%
Market Cap 3.75B
Revenue (ttm) 1.57B
Net Income (ttm) 180.20M
Shares Out 57.82M
EPS (ttm) 3.12
PE Ratio 20.78
Forward PE 17.36
Dividend $2.82 (4.35%)
Ex-Dividend Date Nov 15, 2024
Volume 225,135
Open 64.84
Previous Close 64.82
Day's Range 64.60 - 64.85
52-Week Range 55.86 - 65.86
Beta 0.79
Analysts Hold
Price Target 62.00 (-4.37%)
Earnings Date Oct 30, 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
Founded 1906
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 4 analysts, the average rating for ALE stock is "Hold." The 12-month stock price forecast is $62.0, which is a decrease of -4.37% from the latest price.

Price Target
$62.0
(-4.37% downside)
Analyst Consensus: Hold
Stock Forecasts

News

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 ...

2 days ago - GlobeNewsWire

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.

23 days ago - Business Wire

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...

6 weeks ago - Business Wire

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.

6 weeks 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 70.5 cents per share of common stock. On an annual basis, the dividend is equivalent...

6 weeks ago - Business Wire

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 ...

7 weeks ago - PRNewsWire

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...

2 months ago - Business Wire

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...

2 months ago - Business Wire

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...

3 months ago - PRNewsWire

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...

4 months ago - Business Wire

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.

4 months ago - Business Wire

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...

4 months ago - Business Wire

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...

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

4 months ago - Business Wire

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...

5 months ago - Business Wire

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...

6 months ago - Business Wire

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...

Other symbols: POR
7 months ago - PRNewsWire

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...

7 months ago - Business Wire

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...

7 months ago - Business Wire

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...

7 months ago - PRNewsWire

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...

Other symbols: PRFT
7 months ago - PRNewsWire

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.

7 months ago - Reuters

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...

7 months ago - Market Watch

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...

7 months ago - Business Wire

Minnesota Power Reaches Electric Rate Settlement With State Agencies and Large Power Customers

DULUTH, Minn.--(BUSINESS WIRE)--Minnesota Power, a utility division of ALLETE Inc. (NYSE: ALE), has reached a settlement agreement on its 2024 electric rate proposal with the Minnesota Department of C...

7 months ago - Business Wire