ALLETE, Inc. (ALE)
| Market Cap | 3.52B |
| Revenue (ttm) | 1.90B |
| Net Income (ttm) | 247.30M |
| Shares Out | 57.48M |
| EPS (ttm) | 4.31 |
| PE Ratio | 14.19 |
| Forward PE | 15.76 |
| Dividend | $2.71 (4.43%) |
| Ex-Dividend Date | Nov 14, 2023 |
| Volume | 168,891 |
| Open | 61.17 |
| Previous Close | 61.39 |
| Day's Range | 60.99 - 61.37 |
| 52-Week Range | 49.29 - 66.69 |
| Beta | 0.73 |
| Analysts | Hold |
| Price Target | 60.00 (-1.9%) |
| Earnings Date | Feb 15, 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. 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 150,000 retail cust... [Read more]
Financial Performance
In 2022, ALLETE's revenue was $1.57 billion, an increase of 10.68% compared to the previous year's $1.42 billion. Earnings were $189.30 million, an increase of 11.88%.
Financial StatementsAnalyst Forecast
According to 5 analysts, the average rating for ALE stock is "Hold." The 12-month stock price forecast is $60.0, which is a decrease of -1.90% from the latest price.
News
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.
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...
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...
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...
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...
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...
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...
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.
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...
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...
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-...
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 ...
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...
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 ...
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...
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...
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 $0.6775 per share, a 4.2% pe...
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-...
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...
ALLETE to announce 2022 financial results on Feb. 16
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Inc. (NYSE:ALE) will announce its financial results for 2022 before the stock markets open on Thursday, Feb. 16, 2023.
Minnesota Power Ready to Move Next Phase of EnergyForward Following MPUC Approval of Resource Plan
DULUTH, Minn.--(BUSINESS WIRE)--The Minnesota Public Utilities Commission today unanimously approved Minnesota Power's 15-year Integrated Resource Plan (IRP), the regulatory roadmap for the company'...
ALLETE, Inc. Reports Third Quarter Earnings; Expects 2022 Earnings Near Mid-Point of $3.60 - $3.90 Per Share Range
DULUTH, Minn.
Minnesota Power Advances Clean-Energy Future by Increasing Targets for Renewable Energy Resources Under Its EnergyForward Plan
DULUTH, Minn.
New Energy Equity announces promotions of executive leadership team
ANNAPOLIS, Md. , Nov. 4, 2022 /PRNewswire/ -- New Energy Equity (New Energy), a wholly-owned subsidiary of ALLETE (NYSE: ALE), announced today the promotions of several members of their executive team...
ALLETE to announce third quarter financial results Nov. 9
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Inc. (NYSE:ALE) will announce its financial results for the third quarter before the stock markets open on Wednesday, Nov. 9, 2022. Following the release, ALLETE...