ALLETE's board of directors, accountable to its shareholders, is responsible for the direction and control of the company. Coal fuel sources, specifically, account for most of this. Allete price target cut to $55 from $66 at Mizuho, stock rated neutral Aug. 26, 2020 at 8:03 a.m. The dividend payout ratio of ALLETE is 74.17%. ALLETE is a publicly held company that operates in a complex, dynamic, competitive and regulated environment. The business's revenue for the quarter was up 1.9% on a year-over-year basis. Through its subsidiaries, ALLETE provides regulated electric, natural gas, and water services. Address: 30 W Superior St Duluth, MN 55802 Phone: 218-279-5000 View all of ALE's competitors. You may vote once every thirty days. The utilities provider earns $185.60 million in net income (profit) each year or $3.33 on an earnings per share basis. MarketBeat's community ratings are surveys of what our community members think about ALLETE and other stocks. The company has been headquartered in … The COVID-19 pandemic will make it tougher for Duluth-based Allete, the parent company of Minnesota Power, to reach some of its growth goals by 2025. ET by Tonya Garcia Allete downgraded to hold from buy at Williams Capital Group The company's major customers are industrial entities, such as major iron ore, wood product, and pipeline producers. Their forecasts range from $55.00 to $64.00. (Add your “outperform” vote. 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The company's Regulated Operations division, which houses its energy generation, transmission, and distribution activities, is responsible for most of ALLETE's total revenue by way of electricity sales and transmission service fees. © Copyright 2021 Morningstar, Inc. All rights reserved. Since then, ALE stock has increased by 0.2% and is now trading at $69.72. ALLETE, Inc. was incorporated in 1906 and is headquartered in Duluth, Minnesota. Learn more. When the corporate name was changed to ALLETE, Inc. in 2000, the stock’s ticker symbol became ALE. Get short term trading ideas from the MarketBeat Idea Engine. ALLETE updated its FY20 earnings guidance on Monday, November, 9th. A hold rating indicates that analysts believe investors should maintain any existing positions they have in ALE, but not buy additional shares or sell existing shares. Privacy Policy and ALLETE employs 1,339 workers across the globe. ALE stock was bought by a variety of institutional investors in the last quarter, including Crossmark Global Holdings Inc., and First Citizens Bank & Trust Co.. View insider buying and selling activity for ALLETE or or view top insider-buying stocks. Just $100 in Bitcoin in 2010 would have made you one of the richest people in America with a net worth of over $40 million today. Al Hodnik became the CEO of ALLETE, Inc. (NYSE:ALE) in 2010. 71.86% of the stock of ALLETE is held by institutions. Allete Inc. ALLETE, Inc. engages in the provision of electric and natural gas utility services. As an and Personal Securities Trading Policy in carrying out his responsibilities. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. ALLETE (NYSE: ALE) is well-positioned as a reliable provider of competitively-priced energy in the upper Midwest, and invests in transmission infrastructure and other energy-centric businesses. MyALLETE.com is provided as a service to ALLETE, Minnesota Power, SWL&P, BNI Energy, ACE, ARRI and Minnesota Power Employee Credit Union employees and retirees. They called the 2020 crash 45 days early. Based on an average trading volume of 287,100 shares, the days-to-cover ratio is presently 3.5 days. This site is protected by reCAPTCHA and the Google 326 E 8th St #105, Sioux Falls, SD 57103 | [email protected] | (844) 978-6257 Based on earnings estimates, ALLETE will have a dividend payout ratio of 67.86% next year. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. Shares of ALE can be purchased through any online brokerage account. Brooks Johnson writes about the Duluth/Superior region. ALLETE, Inc. was incorporated in 1906 and is headquartered in Duluth, Minnesota. The latest closing stock price for Allete as of January 15, 2021 is 69.72.. Upgrade to MarketBeat Daily Premium to add more stocks to your watchlist. Minnesota Power, a utility division of ALLETE (NYSE: ALE), today proposed a resolution to its November 2019 rate review that would reduce customers’ monthly bills and provide refunds. View ALLETE's dividend history. ALLETE Corporate. In addition, the company focuses on developing, acquiring, and operating clean and renewable energy projects; and owns and operates approximately 660 megawatt of wind energy generation. Vote “Outperform” if you believe ALE will outperform the S&P 500 over the long term. Through its subsidiaries, ALLETE provides regulated electric, natural gas, and water services. Morningstar Quantitative ratings for equities (denoted on this page by) are generated using an algorithm that compares companies that are not under analyst coverage to All rights reserved. The company operates through Regulated Operations, ALLETE Clean Energy, and Corporate and Other segments. The project also is an investment for ALLETE; it is owned by Nobles 2 Power Partners LLC, whose investors include an ALLETE subsidiary, energy company Tenaska and Bright Canyon Energy. About ALLETE. The ALLETE Clean Energy segment develops, acquires, and operates clean and renewable energy projects. For information One share of ALE stock can currently be purchased for approximately $69.72. The stock has traded as high as $88.60 and as low as $48.22 in the past 52 weeks. Stockholders of record on Monday, November 16th will be given a dividend of $0.6175 per share on Tuesday, December 1st. BRIEF-Allete Inc Qtrly Earnings Per Share $0.99 * FOR THREE MONTHS ENDED MARCH 31, TOTAL OPERATING REVENUE WAS $358.2 MILLION VERSUS $365.6 MILLION - SEC FILING The majority of the energy sold and distributed by ALLETE is produced by its own portfolio of coal-fired, wind, natural gas-fired, biomass, and hydroelectric power plants. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities. Stock analysis for ALLETE Inc (ALE:New York) including stock price, stock chart, company news, key statistics, fundamentals and company profile. In addition to its electric utilities, Minnesota Power and Superior Water, Light and Power of Wisconsin, ALLETE owns ALLETE Clean Energy, based in Duluth, U.S. Water Services headquartered in St. Michael, Minn., BNI Energy in Center, N.D., and has an eight percent equity interest in the American Transmission Co. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Companies withratings are not formally covered by a Morningstar analyst, but are It also owns and maintains electric transmission assets in Wisconsin, Michigan, Minnesota, and Illinois. 4 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for ALLETE in the last year. file / News Tribune. Top institutional investors include State of Alaska Department of Revenue (0.02%), Redpoint Investment Management Pty Ltd (0.02%), HGK Asset Management Inc. (0.01%), Crossmark Global Holdings Inc. (0.01%) and First Citizens Bank & Trust Co. (0.01%). It has traded as high as $88.60 and as low as $74.54 in the past year. Terms of Service apply. ALLETE is scheduled to release its next quarterly earnings announcement on Thursday, February 11th 2021. Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter. Do Not Sell My Information. ALLETE pays a meaningful dividend of 3.54%, higher than the bottom 25% of all stocks that pay dividends. Terms and Conditions Privacy Center Disclosures Member User Agreement Corrections Cookies. View which stocks are hot on social media with MarketBeat's trending stocks report. This code of business conduct, The Power of Integrity, embodies the standards that form ALLETE… Learn more. © 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Minnesota Power remains the largest division of ALLETE. ALLETE has received a consensus rating of Hold. Find the latest Allete, Inc. (ALE) stock quote, history, news and other vital information to help you with your stock trading and investing. Learn everything you need to know about successful options trading with this three-part video course. View institutional ownership trends for ALLETE. The company provides regulated utility electric service in northeastern Minnesota to approximately 145,000 retail customers, as well as 15 non-affiliated municipal customers; and regulated utility electric, natural gas, and water services in northwestern Wisconsin to approximately 15,000 electric customers, 13,000 natural gas customers, and 10,000 water customers. ALLETE has received 58.52% “underperform” votes from our community. Is the Beyond Meat (NASDAQ: BYND) Rally Sustainable? ALLETE's mailing address is 30 W SUPERIOR STREET, DULUTH MN, 55802. 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), The Home Depot (HD) and International Business Machines (IBM). employee of Morningstar, Inc., Mr. Davidson is guided by Morningstar, Inc.'s Code of Ethics ALLETE pays an annual dividend of $2.47 per share and currently has a dividend yield of 3.54%. Export data to Excel for your own analysis. The utilities provider earned $293.90 million during the quarter, compared to analyst estimates of $292.90 million. 0.72; 1.04% ... Allete Inc (ALE) - PROVIDES REGULATED ELECTRIC, GAS AND WATER UTILITY SERVICES IN NORTHEASTERN MN AND NORTHWESTERN WI. ALLETE's other segment includes coal mining operations, emerging technologies related to electric utilities, and a real estate business (large land tracts in Florida). ALLETE Board Of Directors Declares Dividend On Common Stock. In the past three months, ALLETE insiders have not sold or bought any company stock. According to analysts' consensus price target of $59.25, ALLETE has a forecasted downside of 15.0% from its current price of $69.72. Get the latest Full Company Report for Allete, Inc. from Zacks Investment Research ALLETE saw a increase in short interest in December. To see all exchange delays and terms of use please see disclaimer. On average, they expect ALLETE's share price to reach $59.25 in the next twelve months. ALE stock was sold by a variety of institutional investors in the last quarter, including Redpoint Investment Management Pty Ltd, State of Alaska Department of Revenue, and HGK Asset Management Inc.. View insider buying and selling activity for ALLETE or view top insider-selling stocks. The company owns and operates 158 substations with a total capacity of 8,875 megavoltamperes. ALLETE has a market capitalization of $3.62 billion and generates $1.24 billion in revenue each year. ALLETE, Inc. (NYSE:ALE) announced its quarterly earnings data on Saturday, November, 14th. is ranked # 5. ALLETE INC annual reports of executive compensation and pay are most commonly found in the Def 14a documents. ALLETE has received 280 “outperform” votes. The P/E ratio of ALLETE is 20.45, which means that it is trading at a less expensive P/E ratio than the Utilities sector average P/E ratio of about 33.76. Click here for more on how to use these ratings. About Allete: Allete is an energy company. Through its subsidiaries, ALLETE provides regulated electric, natural gas, and water services. The stock of Minnesota Power and Light was first listed on the New York Stock Exchange in 1950 under the ticker symbol MPL. 4 brokers have issued 12 month price targets for ALLETE's stock. Only 0.31% of the stock of ALLETE is held by insiders. In addition to its electric utilities, Minnesota Power and Superior Water, Light and Power of Wisconsin, ALLETE owns ALLETE Clean Energy, based in Duluth; BNI Energy, based in Bismarck, N.D.; and has an 8 percent equity interest in the American Transmission Co. Company insiders that own ALLETE stock include Alan R Hodnik, Kathryn W Dindo, Madeleine W Ludlow and Robert John Adams. The utilities provider can be reached via phone at 218-279-5000. View our earnings forecast for ALLETE. ALLETE Clean Energy, based in Duluth, Minn., is an independent power producer and supplier that acquires or develops capital projects to create energy solutions for … This payout ratio is at a healthy, sustainable level, below 75%. View our full suite of financial calendars and market data tables, all for free. ALLETE is an energy company. Allete, Inc. (ALE) Stock Quotes - Nasdaq offers stock quotes & market activity data for US and global markets. Allete’s stock price closed Monday at $84.05, up 57 cents. GROUP LEADERSHIP. click MarketBeat thinks these five stocks may be even better buys.View MarketBeat's top stock picks here.
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