Allete
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
0
Funds holding %
of 6,809 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 (-$57.6M) [Q3]
4% less call options, than puts
Call options by funds: $674K | Put options by funds: $699K
2% less funds holding
Funds holding: 331 [Q2] → 324 (-7) [Q3]
3.74% less ownership
Funds ownership: 75.65% [Q2] → 71.91% (-3.74%) [Q3]
15% less repeat investments, than reductions
Existing positions increased: 104 | Existing positions reduced: 123
17% less first-time investments, than exits
New positions opened: 35 | Existing positions closed: 42
Research analyst outlook
We haven’t received any recent analyst ratings for ALE.
Financial journalist opinion
Neutral
Business Wire
1 day ago
ALLETE receives FERC approval for proposed transaction with Canada Pension Plan Investment Board and Global Infrastructure Partners
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE: ALE) announced that the Federal Energy Regulatory Commission (FERC) approved the company's proposed transaction with Canada Pension Plan Investment Board (CPP Investments) and Global Infrastructure Partners (GIP). “FERC's approval of ALLETE's proposed transaction with CPP Investments and GIP marks an important milestone and brings us one step closer to realizing the benefits of this transaction for our customers, our communities, our co-worker.
Neutral
GlobeNewsWire
1 week ago
Puget Sound Energy signs on to largest share of North Plains Connector transmission project
Investment is a major step forward toward enhancing the reliability and resilience of the western energy grid Investment is a major step forward toward enhancing the reliability and resilience of the western energy grid
Neutral
Business Wire
1 month ago
ALLETE Clean Energy has fully recontracted Armenia Mountain Wind
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Clean Energy has fully contracted the output of its Armenia Mountain Wind site for another seven years through agreements with two customers.
Neutral
Business Wire
1 month ago
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.
Neutral
Business Wire
1 month ago
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.
Neutral
Business Wire
1 month ago
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.
Neutral
PRNewsWire
2 months ago
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.
Neutral
Business Wire
2 months ago
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.
Neutral
Business Wire
2 months ago
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.
Neutral
PRNewsWire
3 months ago
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).
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