Should I buy or sell ALLETE stock right now?

5 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for ALLETE in the last year. There are currently 1 sell rating and 4 hold ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "reduce" ALE shares. View ALE analyst ratings or view top-rated stocks .

What is ALLETE's stock price target for 2024?

5 brokers have issued 12 month target prices for ALLETE's shares. Their ALE share price targets range from $54.00 to $64.00. On average, they predict the company's share price to reach $58.60 in the next twelve months. This suggests a possible upside of 1.8% from the stock's current price. View analysts price targets for ALE or view top-rated stocks among Wall Street analysts .

How have ALE shares performed in 2024?

ALLETE's stock was trading at $61.16 at the beginning of the year. Since then, ALE stock has decreased by 5.9% and is now trading at $57.55. View the best growth stocks for 2024 here .

When is ALLETE's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, May 9th 2024. View our ALE earnings forecast .

How can I listen to ALLETE's earnings call?

ALLETE will be holding an earnings conference call on Thursday, May 9th at 10:00 AM Eastern. Interested parties can register for or listen to the call using this link .

How were ALLETE's earnings last quarter?

ALLETE, Inc. (NYSE:ALE) issued its quarterly earnings data on Tuesday, February, 20th. The utilities provider reported $0.89 earnings per share for the quarter, missing analysts' consensus estimates of $0.97 by $0.08. The utilities provider had revenue of $402.70 million for the quarter, compared to the consensus estimate of $425.21 million. ALLETE had a net margin of 13.15% and a trailing twelve-month return on equity of 7.31%. The company's quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.90 earnings per share.

How often does ALLETE pay dividends? What is the dividend yield for ALLETE?

ALLETE announced a quarterly dividend on Friday, January 26th. Stockholders of record on Thursday, February 15th will be paid a dividend of $0.705 per share on Friday, March 1st. This represents a $2.82 dividend on an annualized basis and a yield of 4.90%. The ex-dividend date is Wednesday, February 14th. This is a positive change from the stock's previous quarterly dividend of $0.68. Read our dividend analysis for ALE .

Is ALLETE a good dividend stock?

ALLETE (NYSE:ALE) pays an annual dividend of $2.82 per share and currently has a dividend yield of 4.83%. ALE has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The company has been increasing its dividend for 14 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 65.58%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, ALE will have a dividend payout ratio of 70.15% next year. This indicates that the company will be able to sustain or increase its dividend. Read our dividend analysis for ALE .

What ETFs hold ALLETE's stock?

ETFs with the largest weight of ALLETE (NYSE:ALE) stock in their portfolio include Timothy Plan Market Neutral ETF (TPMN) , SPDR S&P Kensho Clean Power ETF (CNRG) , Invesco High Yield Equity Dividend Achievers ETF (PEY) , KFA Value Line Dynamic Core Equity Index ETF (KVLE) , VictoryShares US Small Cap High Div Volatility Wtd ETF (CSB) , Global X Alternative Income ETF (ALTY) , ProShares Russell 2000 Dividend Growers ETF (SMDV) and WisdomTree U.S. SmallCap Dividend Fund (DES) .

What guidance has ALLETE issued on next quarter's earnings?

ALLETE updated its FY23 earnings guidance on Tuesday, February, 20th. The company provided earnings per share (EPS) guidance of $3.60-3.90 for the period, compared to the consensus EPS estimate of $4.24.

What is Alan R. Hodnik's approval rating as ALLETE's CEO?

5 employees have rated ALLETE Chief Executive Officer Alan R. Hodnik on Glassdoor.com . Alan R. Hodnik has an approval rating of 100% among the company's employees. This puts Alan R. Hodnik in the top 10% of approval ratings compared to other CEOs of publicly-traded companies.

What other stocks do shareholders of ALLETE own?

Based on aggregate information from My MarketBeat watchlists, some companies that other ALLETE investors own include AbbVie (ABBV) , AT&T (T) , Hawkins (HWKN) , Verizon Communications (VZ) , Ameren (AEE) , United Parcel Service (UPS) , BlackRock (BLK) , Cisco Systems (CSCO) , Home Depot (HD) and International Business Machines (IBM) .

Who are ALLETE's major shareholders?

ALLETE's stock is owned by many different retail and institutional investors. Top institutional shareholders include Congress Asset Management Co. MA (0.03%), Royal Fund Management LLC (0.01%), CWM LLC (0.01%) and GAMMA Investing LLC (0.00%). View institutional ownership trends .

How do I buy shares of ALLETE?

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 .

NYSE:ALE

ALLETE (ALE) Stock Price, News & Analysis

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Free ALE Stock Alerts

$57.69

-0.09 (-0.16%)

(As of 01:27 PM ET)

Compare

Today's Range: $56.66
▼
$57.70
50-Day Range: $56.09
▼
$60.72
52-Week Range: $49.29
▼
$65.10

Volume: 53,274 shs
Average Volume: 287,718 shs
Market Capitalization: $3.32 billion

P/E Ratio: 13.42
Dividend Yield: 4.89%
Price Target: $58.60

Get ALLETE alerts:

ALLETE MarketRank™ Stock Analysis

Analyst Rating: Reduce
1.80 Rating Score
Upside/Downside: 1.8% Upside
$58.60 Price Target
Short Interest: Healthy
2.24% of Shares Sold Short
Dividend Strength: Strong
Based on Four Factors
Sustainability: -1.71
Upright™ Environmental Score
News Sentiment: 0.69
Based on 7 Articles This Week
Insider Trading: N/A
Proj. Earnings Growth: 7.20%
From $3.75 to $4.02 Per Share

Overall MarketRank^™

New Rank-Based ScoringMarketRank^™ is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

4.22 out of 5 stars

Utilities Sector

30th out of 90 stocks

Electric & Other Services Combined Industry

9th out of 18 stocks

0.9

Analyst's Opinion

Consensus Rating
ALLETE has received a consensus rating of Reduce. The company's average rating score is 1.80, and is based on no buy ratings, 4 hold ratings, and 1 sell rating.
Amount of Analyst Coverage
ALLETE has only been the subject of 2 research reports in the past 90 days.

3.0

Short Interest

Percentage of Shares Shorted
2.24% 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 4.4.
Change versus previous month
Short interest in ALLETE has recently decreased by 3.01%, indicating that investor sentiment is improving.

5.0

Dividend Strength

Dividend Leadership
ALLETE is a leading dividend payer. It pays a dividend yield of 4.83%, 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 65.58%. This payout ratio is at a healthy, sustainable level, below 75%.
Dividend Sustainability
Based on earnings estimates, ALLETE will have a dividend payout ratio of 70.15% next year. This indicates that ALLETE will be able to sustain or increase its dividend.

2.9

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
ALLETE has received a 25.74% net impact score from Upright. The largest positive contribution comes from its "Societal infrastructure" impact, which is mostly driven by its "Retailing electricity produced with wind power", "Construction of solar power plants", "Natural gas distribution services", "Electricity produced with coal", and "Electricity produced with wind power" products. See details.
Environmental Sustainability
The Environmental Impact score for ALLETE is -1.71.

2.6

News and Social Media Coverage

News Sentiment
ALLETE has a news sentiment score of 0.69. 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 0.45 average news sentiment score of Utilities companies.
News Coverage This Week
MarketBeat has tracked 7 news articles for ALLETE this week, compared to 3 articles on an average week.
Search Interest
Only 2 people have searched for ALE on MarketBeat in the last 30 days. This is a decrease of 0% compared to the previous 30 days.

1.7

Company Ownership

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.

3.1

Earnings and Valuation

Earnings Growth
Earnings for ALLETE are expected to grow by 7.20% in the coming year, from $3.75 to $4.02 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of ALLETE is 13.38, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 136.86.
Price to Earnings Ratio vs. Sector
The P/E ratio of ALLETE is 13.38, which means that it is trading at a less expensive P/E ratio than the Utilities sector average P/E ratio of about 77.60.
Price to Book Value per Share Ratio
ALLETE has a P/B Ratio of 0.97. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

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About ALLETE Stock (NYSE: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 150,000 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.

ALE Stock Price History

30 days | 90 days | 365 days | Advanced Chart

ALE Stock News Headlines

April 13, 2024 | finance.yahoo.com

ALLETE, Inc. (NYSE:ALE) is favoured by institutional owners who hold 77% of the company

April 12, 2024 | finance.yahoo.com

ALLETE to Announce First Quarter Financial Results May 9

April 16, 2024 | Manward Press (Ad)

Can't believe it's happening again

April 12, 2024 | businesswire.com

ALLETE to Announce First Quarter Financial Results May 9

April 11, 2024 | americanbankingnews.com

ALLETE, Inc. (NYSE:ALE) Receives Consensus Recommendation of "Reduce" from Brokerages

March 27, 2024 | finance.yahoo.com

The past five years for ALLETE (NYSE:ALE) investors has not been profitable

March 17, 2024 | finance.yahoo.com

ALE Jul 2024 55.000 call

March 11, 2024 | finance.yahoo.com

Returns On Capital Signal Tricky Times Ahead For ALLETE (NYSE:ALE)

April 16, 2024 | Manward Press (Ad)

Can't believe it's happening again

February 27, 2024 | prnewswire.com

New Energy Equity announces Tim Ahrens as Senior Vice President of Development

February 23, 2024 | finance.yahoo.com

ALLETE, Inc. Just Beat Revenue By 6.3%: Here's What Analysts Think Will Happen Next

February 21, 2024 | markets.businessinsider.com

Allete Hold Rating Maintained Amid Growth Prospects and Financial Uncertainties

February 21, 2024 | finance.yahoo.com

ALLETE, Inc. (NYSE:ALE) Q4 2023 Earnings Call Transcript

February 20, 2024 | benzinga.com

ALLETE: Q4 Earnings Insights

February 20, 2024 | seekingalpha.com

ALLETE, Inc. 2023 Q4 - Results - Earnings Call Presentation

February 20, 2024 | sfgate.com

Allete: Q4 Earnings Snapshot

February 20, 2024 | markets.businessinsider.com

Allete Q4 Results Miss Estimates

February 20, 2024 | businesswire.com

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

February 19, 2024 | benzinga.com

Earnings Outlook For ALLETE

February 16, 2024 | msn.com

ALLETE Q4 2023 Earnings Preview

February 15, 2024 | finance.yahoo.com

Minnesota Power advances EnergyForward with request for proposals for up to 400 megawatts of wind energy

February 15, 2024 | businesswire.com

Minnesota Power advances EnergyForward with request for proposals for up to 400 megawatts of wind energy

February 13, 2024 | finance.yahoo.com

ALLETE, Inc. (ALE)

February 12, 2024 | seekingalpha.com

Unlocking Green Power: Allete Is A Gem In The Utility Sector

February 10, 2024 | seekingalpha.com

Allete: I Continue To Be Bullish On This Quality Business

February 9, 2024 | finance.yahoo.com

ALLETE, Inc. (NYSE:ALE) Will Pay A US$0.705 Dividend In Four Days

February 7, 2024 | finance.yahoo.com

ALLETE to announce 2023 financial results on February 20

See More Headlines

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Company Calendar

Ex-Dividend for 3/1 Dividend: 2/14/2024
Last Earnings: 2/20/2024
Dividend Payable: 3/01/2024
Today: 4/16/2024
Next Earnings (Confirmed): 5/09/2024
Fiscal Year End: 12/31/2024

Get Stock Alerts

Industry, Sector and Symbol

Stock Exchange: NYSE
Sector: Utilities
Industry: Electric & other services combined
Sub-Industry: Electric Utilities
Current Symbol: NYSE:ALE
CUSIP: 01852230
CIK: 66756
Web: www.allete.com
Phone: (218) 279-5000
Fax: 218-723-3944
Employees: 1,560
Year Founded: 2015

Price Target and Rating

Average Stock Price Target: $58.60
High Stock Price Target: $64.00
Low Stock Price Target: $54.00
Potential Upside/Downside: +1.6%
Consensus Rating: Reduce
Rating Score (0-4): 1.80
Research Coverage: 5 Analysts

Profitability

EPS (Most Recent Fiscal Year): $4.30
Trailing P/E Ratio: 13.42
Forward P/E Ratio: 15.38
P/E Growth: N/A
Net Income: $247.10 million
Net Margins: 13.15%
Pretax Margin: 11.00%
Return on Equity: 7.31%
Return on Assets: 3.72%

Debt

Debt-to-Equity Ratio: 0.49
Current Ratio: 1.24
Quick Ratio: 0.78

Sales & Book Value

Annual Sales: $1.88 billion
Price / Sales: 1.77
Cash Flow: $8.61 per share
Price / Cash Flow: 6.70
Book Value: $59.27 per share
Price / Book: 0.97

Miscellaneous

Outstanding Shares: 57,580,000
Free Float: 57,440,000
Market Cap: $3.32 billion
Optionable: Optionable
Beta: 0.75

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Key Executives

Ms. Bethany M. Owen (Age 58)
Chair, CEO & President
Comp: $1.54M
Mr. Steven Wayne Morris (Age 62)
Senior VP & CFO
Comp: $692.42k
Ms. Margaret A. Thickens (Age 57)
VP, Chief Legal Officer & Corporate Secretary
Comp: $645.57k
Mr. Patrick L. Cutshall C.F.A. (Age 59)
CPA, VP & Corporate Treasurer
Comp: $502.05k
Mr. Vincent J. Meyer
Vice President of Investor Relations
Jeffrey Scissons
Director of Corporate Development
Mr. Rob Sandstrom
President of Superior Water, Light & Power
Mr. Matthew Hankey
President & CEO of New Energy Equity
Mr. Frank Frederickson
Vice President of Customer Experience- Minnesota Power

Key Competitors

View All Competitors

Institutional Ownership

View All Institutional Transactions

ALE Stock Analysis - Frequently Asked Questions

Should I buy or sell ALLETE stock right now?: 5 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for ALLETE in the last year. There are currently 1 sell rating and 4 hold ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "reduce" ALE shares.
View ALE analyst ratings or view top-rated stocks.
What is ALLETE's stock price target for 2024?: 5 brokers have issued 12 month target prices for ALLETE's shares. Their ALE share price targets range from $54.00 to $64.00. On average, they predict the company's share price to reach $58.60 in the next twelve months. This suggests a possible upside of 1.8% from the stock's current price.
View analysts price targets for ALE or view top-rated stocks among Wall Street analysts.
How have ALE shares performed in 2024?: ALLETE's stock was trading at $61.16 at the beginning of the year. Since then, ALE stock has decreased by 5.9% and is now trading at $57.55.
View the best growth stocks for 2024 here.
When is ALLETE's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Thursday, May 9th 2024.
View our ALE earnings forecast.
How can I listen to ALLETE's earnings call?: ALLETE will be holding an earnings conference call on Thursday, May 9th at 10:00 AM Eastern. Interested parties can register for or listen to the call using this link.
How were ALLETE's earnings last quarter?: ALLETE, Inc. (NYSE:ALE) issued its quarterly earnings data on Tuesday, February, 20th. The utilities provider reported $0.89 earnings per share for the quarter, missing analysts' consensus estimates of $0.97 by $0.08. The utilities provider had revenue of $402.70 million for the quarter, compared to the consensus estimate of $425.21 million. ALLETE had a net margin of 13.15% and a trailing twelve-month return on equity of 7.31%. The company's quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.90 earnings per share.
How often does ALLETE pay dividends? What is the dividend yield for ALLETE?: ALLETE announced a quarterly dividend on Friday, January 26th. Stockholders of record on Thursday, February 15th will be paid a dividend of $0.705 per share on Friday, March 1st. This represents a $2.82 dividend on an annualized basis and a yield of 4.90%. The ex-dividend date is Wednesday, February 14th. This is a positive change from the stock's previous quarterly dividend of $0.68.
Read our dividend analysis for ALE.
Is ALLETE a good dividend stock?: ALLETE (NYSE:ALE) pays an annual dividend of $2.82 per share and currently has a dividend yield of 4.83%. ALE has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The company has been increasing its dividend for 14 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 65.58%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, ALE will have a dividend payout ratio of 70.15% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for ALE.

What ETFs hold ALLETE's stock?: ETFs with the largest weight of ALLETE (NYSE:ALE) stock in their portfolio include Timothy Plan Market Neutral ETF (TPMN), SPDR S&P Kensho Clean Power ETF (CNRG), Invesco High Yield Equity Dividend Achievers ETF (PEY), KFA Value Line Dynamic Core Equity Index ETF (KVLE), VictoryShares US Small Cap High Div Volatility Wtd ETF (CSB), Global X Alternative Income ETF (ALTY), ProShares Russell 2000 Dividend Growers ETF (SMDV) and WisdomTree U.S. SmallCap Dividend Fund (DES).
What guidance has ALLETE issued on next quarter's earnings?: ALLETE updated its FY23 earnings guidance on Tuesday, February, 20th. The company provided earnings per share (EPS) guidance of $3.60-3.90 for the period, compared to the consensus EPS estimate of $4.24.
What is Alan R. Hodnik's approval rating as ALLETE's CEO?: 5 employees have rated ALLETE Chief Executive Officer Alan R. Hodnik on Glassdoor.com. Alan R. Hodnik has an approval rating of 100% among the company's employees. This puts Alan R. Hodnik in the top 10% of approval ratings compared to other CEOs of publicly-traded companies.
What other stocks do shareholders of ALLETE own?: Based on aggregate information from My MarketBeat watchlists, some companies that other ALLETE investors own include AbbVie (ABBV), AT&T (T), Hawkins (HWKN), Verizon Communications (VZ), Ameren (AEE), United Parcel Service (UPS), BlackRock (BLK), Cisco Systems (CSCO), Home Depot (HD) and International Business Machines (IBM).
Who are ALLETE's major shareholders?: ALLETE's stock is owned by many different retail and institutional investors. Top institutional shareholders include Congress Asset Management Co. MA (0.03%), Royal Fund Management LLC (0.01%), CWM LLC (0.01%) and GAMMA Investing LLC (0.00%).
View institutional ownership trends.
How do I buy shares of ALLETE?: 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.

This page (NYSE:ALE) was last updated on 4/16/2024 by MarketBeat.com Staff

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ALLETE (ALE) Stock Price, News & Analysis

ALLETE MarketRank™ Stock Analysis

Overall MarketRank™

Analyst's Opinion

Short Interest

Percentage of Shares Shorted

Short Interest Ratio / Days to Cover

Change versus previous month

Dividend Strength

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score

Environmental Sustainability

News and Social Media Coverage

News Sentiment

News Coverage This Week

Search Interest

Company Ownership

Earnings and Valuation

About ALLETE Stock (NYSE:ALE)

ALE Stock Price History

ALE Stock News Headlines

Company Calendar

Industry, Sector and Symbol

Price Target and Rating

Profitability

Debt

Sales & Book Value

Miscellaneous

Key Executives

Key Competitors

Institutional Ownership

ALE Stock Analysis - Frequently Asked Questions

Overall MarketRank^™