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NYSE:ALE

ALLETE (ALE) Stock Price, News & Analysis

ALLETE logo
$64.36 -0.18 (-0.28%)
(As of 11/20/2024 ET)

About ALLETE Stock (NYSE:ALE)

Key Stats

Today's Range
$63.97
$64.41
50-Day Range
$63.69
$65.24
52-Week Range
$54.71
$65.86
Volume
274,375 shs
Average Volume
352,552 shs
Market Capitalization
$3.72 billion
P/E Ratio
20.63
Dividend Yield
4.38%
Price Target
$62.00
Consensus Rating
Moderate Buy

Company Overview

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 150,000 retail customers and 14 non-affiliated municipal customers. Further, it owns and maintains electric transmission assets in Wisconsin, Michigan, Minnesota, and Illinois. Additionally, the company focuses on developing, acquiring, and operating clean and renewable energy projects; and owns and operates approximately 1,200 megawatts of wind energy generation facility, as well as involved in the coal mining operations in North Dakota; and real estate investment activities in Florida. It owns and operates 162 substations with a total capacity of 9,980 megavolt amperes. The company serves taconite mining, paper, pulp and secondary wood products, pipeline, and other industries. The company was formerly known as Minnesota Power, Inc. and changed its name to ALLETE, Inc. in May 2001. ALLETE, Inc. was incorporated in 1906 and is headquartered in Duluth, Minnesota.

ALLETE Stock Analysis - MarketRank™

See Top Rated MarketRank™ Stocks
82nd Percentile Overall Score

ALE MarketRank™: 

ALLETE scored higher than 82% of companies evaluated by MarketBeat, and ranked 36th out of 94 stocks in the utilities sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

  • Consensus Rating

    ALLETE has received a consensus rating of Moderate Buy. The company's average rating score is 2.50, and is based on no buy ratings, 3 hold ratings, and no sell ratings.

  • Amount of Analyst Coverage

    ALLETE has only been the subject of 1 research reports in the past 90 days.

  • Read more about ALLETE's stock forecast and price target.
  • Price to Earnings Ratio vs. the Market

    The P/E ratio of ALLETE is 20.63, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 134.38.

  • Price to Earnings Ratio vs. Sector

    The P/E ratio of ALLETE is 20.63, which means that it is trading at a less expensive P/E ratio than the Utilities sector average P/E ratio of about 100.93.

  • Price to Book Value per Share Ratio

    ALLETE has a P/B Ratio of 1.09. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

  • Read more about ALLETE's valuation and earnings.
  • Percentage of Shares Shorted

    1.42% of the outstanding shares of ALLETE have been sold short.
  • Short Interest Ratio / Days to Cover

    ALLETE has a short interest ratio ("days to cover") of 3.2, which is generally considered an acceptable ratio of short interest to trading volume.
  • Change versus previous month

    Short interest in ALLETE has recently decreased by 10.75%, indicating that investor sentiment is improving significantly.
  • Dividend Leadership

    ALLETE is a leading dividend payer. It pays a dividend yield of 4.38%, putting its dividend yield in the top 25% of dividend-paying stocks.

  • Dividend Growth

    ALLETE has been increasing its dividend for 14 years.

  • Dividend Coverage

    The dividend payout ratio of ALLETE is 90.38%. Payout ratios above 75% are not desirable because they may not be sustainable.

  • Read more about ALLETE's dividend.
  • Percentage of Shares Shorted

    1.42% of the outstanding shares of ALLETE have been sold short.
  • Short Interest Ratio / Days to Cover

    ALLETE has a short interest ratio ("days to cover") of 3.2, which is generally considered an acceptable ratio of short interest to trading volume.
  • Change versus previous month

    Short interest in ALLETE has recently decreased by 10.75%, indicating that investor sentiment is improving significantly.
  • News Sentiment

    ALLETE has a news sentiment score of 1.28. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.67 average news sentiment score of Utilities companies.
  • News Coverage This Week

    MarketBeat has tracked 8 news articles for ALLETE this week, compared to 4 articles on an average week.
  • Search Interest

    Only 1 people have searched for ALE on MarketBeat in the last 30 days. This is a decrease of -50% compared to the previous 30 days.
  • MarketBeat Follows

    Only 2 people have added ALLETE to their MarketBeat watchlist in the last 30 days. This is a decrease of 0% compared to the previous 30 days.
  • Insider Buying vs. Insider Selling

    In the past three months, ALLETE insiders have not sold or bought any company stock.

  • Percentage Held by Insiders

    Only 0.24% of the stock of ALLETE is held by insiders.

  • Percentage Held by Institutions

    76.55% of the stock of ALLETE is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

  • Read more about ALLETE's insider trading history.
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ALE Stock News Headlines

ALLETE Clean Energy has fully recontracted Armenia Mountain Wind
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Wells Fargo Sticks to Their Hold Rating for Allete (ALE)
Allete Inc. Reports Mixed Financial Results
ALLETE, Inc. reports third quarter 2024 earnings
ALLETE Q3 Profit Down, But Revenue Rises
See More Headlines

ALE Stock Analysis - Frequently Asked Questions

ALLETE's stock was trading at $61.16 at the beginning of the year. Since then, ALE stock has increased by 5.2% and is now trading at $64.36.
View the best growth stocks for 2024 here
.

ALLETE, Inc. (NYSE:ALE) released its quarterly earnings data on Wednesday, October, 30th. The utilities provider reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by $0.21. The company's quarterly revenue was up 7.5% compared to the same quarter last year.

Top institutional investors of ALLETE include State Street Corp (4.25%), Geode Capital Management LLC (2.41%), FMR LLC (1.62%) and Charles Schwab Investment Management Inc. (1.33%).
View institutional ownership trends
.

Shares of ALE stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

Based on aggregate information from My MarketBeat watchlists, some other companies that ALLETE investors own include Verizon Communications (VZ), AT&T (T), AbbVie (ABBV), Chevron (CVX), International Business Machines (IBM), 3M (MMM) and United Parcel Service (UPS).

Company Calendar

Ex-Dividend for 9/1 Dividend
8/15/2024
Dividend Payable
9/01/2024
Last Earnings
10/30/2024
Ex-Dividend for 12/1 Dividend
11/15/2024
Today
11/20/2024
Dividend Payable
12/01/2024
Fiscal Year End
12/31/2024
Next Earnings (Estimated)
2/18/2025

Industry, Sector and Symbol

Sector
Utilities
Industry
Electric & other services combined
Sub-Industry
Electric Utilities
CUSIP
01852230
Employees
1,560
Year Founded
2015

Price Target and Rating

Average Stock Price Target
$62.00
High Stock Price Target
$67.00
Low Stock Price Target
$58.00
Potential Upside/Downside
-3.7%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.50
Research Coverage
4 Analysts

Profitability

Net Income
$247.10 million
Pretax Margin
8.69%

Debt

Sales & Book Value

Annual Sales
$1.57 billion
Cash Flow
$8.71 per share
Book Value
$59.27 per share

Miscellaneous

Free Float
57,680,000
Market Cap
$3.72 billion
Optionable
Optionable
Beta
0.80
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This page (NYSE:ALE) was last updated on 11/21/2024 by MarketBeat.com Staff
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