Allete
ALE
Market cap $3.72B

64.36 USD

-0.18

0.28%

At close Nov 15, 4:00 PM EST

After hours

64.36

+0.00

0.00%

1 day

-0.28%

5 days

-1.15%

1 month

0.00%

3 months

1.07%

6 months

1.92%

Year to date

3.32%

1 year

15.76%

5 years

-20.21%

10 years

28.49%

About: ALLETE Inc provides competitively-priced energy in America's Upper Midwest region and invests in transmission infrastructure and other energy-centric businesses. The company has two reportable segments. The first segment is Regulated Operations, which includes the company's regulated utilities, Minnesota Power and SWL&P, as well as its investment in ATC. ATC is a regulated utility based in Wisconsin that owns and maintains electric transmission assets in parts of Wisconsin, Michigan, Minnesota, and Illinois. The second segment is ALLETE Clean Energy, which focuses on developing, acquiring, and operating clean and renewable energy projects.

Employees: 1,622

Utilities Electric & Other Services Combined

0

Funds holding %

of 6,704 funds

–

Analysts bullish %

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

2% less capital invested

Capital invested by funds: $2.72B [Q2] → $2.66B (-$63.7M) [Q3]

4% less call options, than puts

Call options by funds: $674K | Put options by funds: $699K

3% less funds holding

Funds holding: 331 [Q2] → 320 (-11) [Q3]

3.9% less ownership

Funds ownership: 75.65% [Q2] → 71.75% (-3.9%) [Q3]

15% less repeat investments, than reductions

Existing positions increased: 104 | Existing positions reduced: 122

24% less first-time investments, than exits

New positions opened: 34 | Existing positions closed: 45

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Research analyst outlook

We haven’t received any recent analyst ratings for ALE.

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Financial journalist opinion

Based on 3 articles about ALE published over the past 30 days

ALLETE, Inc. reports third quarter 2024 earnings

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE: ALE) today reported third quarter 2024 earnings of 78 cents per share on net income of $45.0 million. Last year's third quarter results were $1.49 per share on net income of $85.9 million. Net income for the same quarter in 2023 included approximately 71 cents per share for the favorable arbitration ruling involving a subsidiary of ALLETE Clean Energy. Net income for the third quarter this year included approximately 7 cents per share of trans.

ALLETE, Inc. reports third quarter 2024 earnings

ALLETE Clean Energy Announces Sale of Wisconsin Wind Site

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Clean Energy today announced the company has sold the Whitetail wind project in southwestern Wisconsin to Invenergy.

ALLETE Clean Energy Announces Sale of Wisconsin Wind Site

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 70.5 cents per share of common stock. On an annual basis, the dividend is equivalent to $2.82 per share, unchanged from the previous quarter. The regular quarterly dividend is payable December 1 to common stock shareholders of record at the close of business November 15, 2024. ALLETE, Inc. is an energy company headquartered in Duluth, Minnesota. In addition to its electric utiliti.

ALLETE Board of Directors declares dividend on common stock

New Energy Equity completes development of 14 Public Storage projects in Minnesota

ROSEVILLE, M.N., Oct. 17, 2024 /PRNewswire/ -- New Energy Equity, national developer and financier of community and commercial solar projects, announces the successful completion of 14 Public Storage solar projects across Minnesota.

New Energy Equity completes development of 14 Public Storage projects in Minnesota

ALLETE to Announce Third Quarter Financial Results October 30

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Inc. (NYSE:ALE) will announce its financial results for the third quarter before the stock markets open on Wednesday, October 30, 2024. ALLETE, Inc. is an energy company headquartered in Duluth, Minnesota. 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 in Bismarck, N.D.; and New Energy Equity, headquartered in Annapolis, Maryland; and has.

ALLETE to Announce Third Quarter Financial Results October 30

Minnesota Power plans two large solar projects in northern Minnesota as part of its EnergyForward strategy for carbon-free energy

DULUTH, Minn.--(BUSINESS WIRE)--Minnesota Power, a utility division of ALLETE Inc. (NYSE: ALE), announced today it plans to build two large solar projects in northern Minnesota as part of its continued transition toward a cleaner energy future while prioritizing regional renewable energy investments. The Regal Solar project near Royalton, Minnesota, and the Boswell Solar project in Cohasset, Minnesota, were chosen in an open process from competitive bids in Minnesota Power's 2023 solar request.

Minnesota Power plans two large solar projects in northern Minnesota as part of its EnergyForward strategy for carbon-free energy

New Energy Equity achieves Gold Certification for advancements on DEIJ issues

ANNAPOLIS, Md. , Sept. 17, 2024 /PRNewswire/ -- New Energy Equity, a wholly owned subsidiary of ALLETE Inc (NYSE:ALE), announced it has achieved Gold Certification through the Diversity Equity Inclusion and Justice (DEIJ) Certification Program from the Solar Energy Industries Association (SEIA).

New Energy Equity achieves Gold Certification for advancements on DEIJ issues

ALLETE shareholders approve proposed transaction with Canada Pension Plan Investment Board and Global Infrastructure Partners

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE: ALE) announced that its shareholders voted today to approve the company's proposed transaction with Canada Pension Plan Investment Board (CPP Investments) and Global Infrastructure Partners (GIP) at a special meeting of shareholders. As previously announced, under the terms of the merger agreement, CPP Investments and GIP will acquire all outstanding common shares of ALLETE for $67 per share in cash, or $6.2 billion, without interest. “We than.

ALLETE shareholders approve proposed transaction with Canada Pension Plan Investment Board and Global Infrastructure Partners

ALLETE applauds $700 million federal grant for Montana and North Plains Connector transmission project

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE applauds $700 million federal grant for Montana and North Plains Connector transmission project.

ALLETE applauds $700 million federal grant for Montana and North Plains Connector transmission project

Wall Street's Most Accurate Analysts Spotlight On 3 Utilities Stocks Delivering High-Dividend Yields

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout.

Wall Street's Most Accurate Analysts Spotlight On 3 Utilities Stocks Delivering High-Dividend Yields

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