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: 1,616
0
Funds holding %
of 7,398 funds
–
Analysts bullish %
Fund manager confidence
Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)
66% more first-time investments, than exits
New positions opened: 48 | Existing positions closed: 29
4% more funds holding
Funds holding: 326 [Q3] → 338 (+12) [Q4]
8% more repeat investments, than reductions
Existing positions increased: 114 | Existing positions reduced: 106
1% more capital invested
Capital invested by funds: $2.69B [Q3] → $2.71B (+$21M) [Q4]
0.24% less ownership
Funds ownership: 72.58% [Q3] → 72.34% (-0.24%) [Q4]
4% less call options, than puts
Call options by funds: $486K | Put options by funds: $505K
Research analyst outlook
We haven’t received any recent analyst ratings for ALE.
Financial journalist opinion
Based on 4 articles about ALE published over the past 30 days
Neutral
PRNewsWire
1 week ago
New Energy Equity's Lift as We Climb Foundation Donates $100,000 to Civic Works to Expand Solar Access in Baltimore
ANNAPOLIS, Md. , March 25, 2025 /PRNewswire/ -- New Energy Equity's Lift as We Climb Foundation has donated $100,000 to Civic Works, a Baltimore-based nonprofit, to support its mission of expanding solar access for local households.
Neutral
Business Wire
2 weeks ago
Wisconsin Regulators Approve Proposed ALLETE Transaction With Canada Pension Plan Investment Board and Global Infrastructure Partners
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE: ALE) announced that the Public Service Commission of Wisconsin (PSCW) today approved the company's proposed transaction with Canada Pension Plan Investment Board (CPP Investments) and Global Infrastructure Partners (GIP). “The PSCW's decision brings us another step closer to completing this transaction for the benefit of our customers, our communities, and our employees after the resounding approval from our shareholders last year as well as t.
Neutral
Business Wire
3 weeks ago
ALLETE Names Jeff Scissons Chief Financial Officer
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE: ALE) announced today that ALLETE Vice President and Corporate Treasurer Jeff Scissons has been promoted to chief financial officer. He succeeds Steven W. Morris, who recently announced his plan to retire in July. Scissons joined the company in 2013 and was promoted to ALLETE vice president and corporate treasurer in 2024 after serving in key strategic roles throughout his tenure. Over a dozen years at ALLETE, he led various strategic initiativ.
Neutral
PRNewsWire
3 weeks ago
New Energy Equity Partners with Harlem Consolidated School District on 5.54 MWdc Community Solar Project
ANNAPOLIS, Md. , March 6, 2025 /PRNewswire/ -- New Energy Equity, a national leader in developing and financing community and commercial solar projects, is pleased to announce a new partnership with the Harlem Consolidated School District to bring a 5.54 MWdc solar energy project to the district in Illinois.
Neutral
Business Wire
1 month ago
ALLETE, Inc. Reports 2024 Earnings
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE: ALE) today reported 2024 earnings of $3.10 per share on net income of $179.3 million and operating revenue of $1.5 billion. Reported results from 2023 were $4.30 per share on net income of $247.1 million and operating revenue of $1.9 billion. Results for 2024 reflect approximately 39 cents per share of transaction expenses related to the merger agreement entered into May 5, 2024, with Canada Pension Plan Investment Board and Global Infrastruct.
Positive
Seeking Alpha
1 month ago
Allete, Inc.: 11% Return Beats A Bank For Short-Term Idle Cash
Allete's pending acquisition by CPP Investments and GIP at $67 per share offers a potential 11% annual return, assuming a mid-2025 close. Shareholders can benefit from continued dividends and a fixed exit price, making this a higher return investment compared to bank deposits, with fairly low risk. The investment thesis maintains a Hold recommendation for current shareholders and a Buy for new investors seeking a reasonably secure 11% annual return.
Positive
Seeking Alpha
1 month ago
23 Upcoming Dividend Increases, Including 2 Kings
Excited to announce dividend hikes for 23 companies, including dividend kings SJW Group and California Water Service Group, with 5% and 7.1% increases. Companies with consistent dividend growth indicate financial health, attracting investors and boosting stock prices, leading to long-term wealth accumulation. Investment strategy focuses on stocks with rising dividends and outperforming benchmarks, using data from U.S. Dividend Champions and NASDAQ.
Neutral
Business Wire
2 months ago
ALLETE Board of Directors Raises Quarterly Common Stock Dividend
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE:ALE) today announced that its Board of Directors has increased the quarterly dividend on the company's common stock to $0.73 per share, a 3.5 percent increase. “This dividend increase reflects the ALLETE Board of Directors' confidence in our growth outlook for ALLETE,” said ALLETE Chair, President and CEO Bethany Owen. “We are pleased to deliver another dividend increase to our shareholders – adding to our track record of more than 75 consecuti.
Neutral
Business Wire
2 months ago
ALLETE Senior Vice President & Chief Financial Officer Steven W. Morris to Retire Mid-Year as Part of a Planned Transition
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE announced today that Chief Financial Officer Steven W. Morris will retire later this year.
Neutral
Business Wire
3 months 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.
Charts implemented using Lightweight Charts™