ALLETE, Inc. (ALE)
| Market Cap | 3.63B |
| Revenue (ttm) | 1.72B |
| Net Income (ttm) | 239.60M |
| Shares Out | 57.67M |
| EPS (ttm) | 4.16 |
| PE Ratio | 15.13 |
| Forward PE | 15.92 |
| Dividend | $2.82 (4.48%) |
| Ex-Dividend Date | May 14, 2024 |
| Volume | 350,918 |
| Open | 63.31 |
| Previous Close | 62.80 |
| Day's Range | 62.81 - 63.41 |
| 52-Week Range | 49.29 - 65.86 |
| Beta | 0.74 |
| Analysts | Hold |
| Price Target | 58.60 (-6.88%) |
| Earnings Date | May 9, 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]
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 5 analysts, the average rating for ALE stock is "Hold." The 12-month stock price forecast is $58.6, which is a decrease of -6.88% from the latest price.
News
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...
Shareholder Alert: Ademi LLP investigates whether ALLETE, Inc. has obtained a Fair Price in its Going Private Transaction with CPP Investments and Global Infrastructure Partners
MILWAUKEE , May 7, 2024 /PRNewswire/ -- Ademi LLP is investigating ALLETE (NYSE: ALE) for possible breaches of fiduciary duty and other violations of law in its going private transaction with CPP Inve...
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...
STOCKHOLDER INVESTIGATION: The M&A Class Action Firm Announces An Investigation of ALLETE, Inc. - ALE
NEW YORK , May 6, 2024 /PRNewswire/ -- Monteverde & Associates PC (the "M&A Class Action Firm"), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities...
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...
ALE Stock Alert: Halper Sadeh LLC Is Investigating Whether the Sale of ALLETE, Inc. Is Fair to Shareholders
NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLC, an investor rights law firm, is investigating whether the sale of ALLETE, Inc. (NYSE: ALE) to Canada Pension Plan Investment Board (“CPP”) and Global Infra...
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...
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...
NT Solar Celebrates New Impact Investment Fund & Series of Successful Transactions
WASHINGTON , April 25, 2024 /PRNewswire/ -- NT Solar, a national tax credit syndicator with a mission to provide affordable clean energy access through investments in renewables and battery projects w...
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 70.50 cents per share of common stock. On an annual basis the dividend is equivalent...
ALLETE Recognized for Gender Diversity on Board and Among Executive Officers
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE:ALE) has been named an Honor Roll company of Special Distinction in an annual report on gender diversity in the executive ranks and on the boards of ...
ALLETE to Announce First Quarter Financial Results May 9
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 9, 2024. Following the release, ALLETE C...
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...
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...
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...
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...
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...
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...
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...
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...