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Price: $67.9000
$-0.04 
-0.059%
|
| Day's High:
| $67.99
| Week Perf:
| 0.64 %
|
| Day's Low: |
$ 67.88 |
30 Day Perf: |
0.55 % |
| Volume (M): |
4,394,600 |
52 Wk High: |
$ 67.99 |
| Volume (M$): |
$ 298,393 |
52 Wk Avg: |
$66.43 |
| Open: |
$67.97 |
52 Wk Low: |
$62.38 |
|
|
| Market Capitalization (Millions $) |
3,952 |
| Shares
Outstanding (Millions) |
58 |
| Employees |
1,616 |
| Revenues (TTM) (Millions $) |
1,500 |
| Net Income (TTM) (Millions $) |
87 |
| Cash Flow (TTM) (Millions $) |
-30 |
| Capital Exp. (TTM) (Millions $) |
665 |
Business Description
Allete Inc. is a diversified energy company headquartered in Duluth, Minnesota. Founded in 1906, Allete has a long history of providing energy services to customers in the Midwest and beyond. The company operates through three business segments: Regulated Operations, Energy Infrastructure, and Corporate and Other.
The Regulated Operations segment includes Allete's regulated utilities e Minnesota Power and Superior Water, Light and Power. Minnesota Power provides electricity to over 145,000 customers in northern Minnesota, while Superior Water, Light, and Power provides electricity, natural gas, and water services to customers in Wisconsin. These two regulated utilities are responsible for generating, transmitting and distributing electricity to customers in their respective regions. They own and operate a variety of power plants, transmission lines, and distribution systems.
The Energy Infrastructure segment includes Allete Clean Energy, a leading renewable energy developer, owner, and operator, and U.S. Water Services, a provider of integrated water management solutions to industrial customers. Allete Clean Energy develops, constructs, owns and operates wind, solar, and energy storage projects in the U.S. with the goal of meeting the increasing demand for clean and sustainable energy. U.S. Water Services, on the other hand, provides customized programs and solutions to help customers manage water and energy usage, improve efficiency, and reduce costs.
The Corporate and Other segment includes other businesses and investments, such as Allete Properties, which owns and manages real estate properties, and BNI Energy, a lignite coal mining and production company.
Allete has a strong commitment to sustainability and environmental responsibility. In 2018, the company announced a target to achieve an 80% reduction in greenhouse gas emissions by 2050. As part of this commitment, it has invested in a portfolio of renewable energy projects and is exploring new opportunities to further reduce its carbon footprint.
Furthermore, Allete is committed to serving its communities and supporting various charitable organizations. The company's foundation, the Allete Foundation, provides funding for education, the environment, and health and social services in the communities it serves.
In summary, Allete Inc. is a diversified energy company with a long history of providing energy services to customers in the Midwest, with a strong focus on sustainability, environmental responsibility, community involvement, and charitable giving.
Company Address: 30 West Superior Street Duluth 55802 MN
Company Phone Number: 279-5000 Stock Exchange / Ticker: NYSE ALE
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| Business Update
Published Sat, Jul 12 2025 3:57 PM UTC
ALLETE, Inc. (NYSE: ALE), a prominent name in the energy sector, has recently announced a pivotal agreement with the Minnesota Department of Commerce. This partnership aims to offer immediate cost savings and substantial benefits for Minnesota Power customers and the surrounding communities. The arrangement comes on the heels of a proposed transaction involving ALLETE and it...
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| Dividend
Published Fri, Apr 25 2025 11:57 AM UTC
Duluth, Minn. In the latest proactive financial move from ALLETE, Inc. (NYSE:ALE), the company’s board of directors has approved a quarterly dividend of 73 cents per share of common stock. With an annual yield of $2.92 per share, this move maintains consistency in dividends from the previous quarter, reflecting the company s steady commitment to rewarding its shareholder...
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| Business Update
Published Fri, Dec 20 2024 8:51 AM UTC
In a significant development for the energy sector, ALLETE, Inc. (NYSE: ALE) has announced that the Federal Energy Regulatory Commission (FERC) has granted approval for its anticipated transaction with the Canada Pension Plan Investment Board (CPP Investments) and Global Infrastructure Partners (GIP). This approval not only signals a pivotal moment for ALLETE but also for th...
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| Business Update
Published Mon, Sep 23 2024 4:47 PM UTC
As the global dialogue around renewable energy intensifies, Minnesota Power, a utility division of ALLETE Inc. (NYSE: ALE), is leading the charge in the transition towards a sustainable energy future in northern Minnesota. With the announcement of two large-scale solar projects the Regal Solar project near Royalton and the Boswell Solar project in Cohasset the company unders...
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| Business Update
Published Sun, May 5 2024 6:58 AM UTC
Minnesota Power Reaches Electric Rate Settlement, Easing Financial Burden for Customers DULUTH, Minn. - In a significant development, Minnesota Power, a utility division of ALLETE Inc. (NYSE: ALE), has successfully reached a settlement agreement on its 2024 electric rate proposal. The agreement, which was made in collaboration with the Minnesota Department of Commerce, Minne...
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Fundamental Analysis
| Per Share |
Current |
| Earnings (TTM) |
2.86 $ |
| Revenues (TTM) |
25.78 $
|
| Cash Flow (TTM) |
- |
| Cash |
1.35 $
|
| Book Value |
57.44 $
|
| Dividend (TTM) |
2.89 $ |
| Efficiency
|
Current |
| Revenue per Employee
(TTM) |
928,403 |
| Net
Income per Employee (TTM) |
53,775 |
| Receivable Turnover Ratio (TTM) |
10.58 |
| Inventory Turnover Ratio (TTM) |
0.59 |
| Asset Turnover Ratio (TTM) |
0.22 |
|
|
| Per Share |
|
| Earnings (TTM) |
2.86 $
|
| Revenues (TTM) |
25.78 $ |
| Cash Flow (TTM) |
- |
| Cash |
1.35 $
|
| Book Value |
57.44 $ |
| Dividend (TTM) |
2.89 $ |
|
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| Corporate and Other |
|
 7.09 % |
of total Revenue |
| Regulated Operations |
|
85.39 % |
of total Revenue |
| Regulated Operations Residential |
|
11.6 % |
of total Revenue |
| Regulated Operations Commercial |
|
13.36 % |
of total Revenue |
| Regulated Operations Municipal |
|
2.51 % |
of total Revenue |
| Regulated Operations Industrial |
|
38.13 % |
of total Revenue |
| Regulated Operations Other Power Suppliers |
|
12.59 % |
of total Revenue |
| Regulated Operations Other |
|
7.2 % |
of total Revenue |
| ALLETE Clean Energy |
|
3.28 % |
of total Revenue |
| ALLETE Clean Energy Long-term PSA |
|
2.88 % |
of total Revenue |
| ALLETE Clean Energy Other |
|
0.4 % |
of total Revenue |
| New Energy |
|
4.24 % |
of total Revenue |
| New Energy Sale of Renewable Development Projects |
|
2.13 % |
of total Revenue |
| New Energy Other |
|
2.11 % |
of total Revenue |
| Corporate and Other Long-term Contract |
|
6.35 % |
of total Revenue |
| Corporate and Other Other |
|
0.75 % |
of total Revenue |
| Total Revenue |
|
2.35 % |
of total Revenue |
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On February 7 2024 the Allete Inc provided following guidance
DULUTH, Minn. - ALLETE Inc. (NYSE:ALE), a leading energy company, is set to disclose its financial results for the year 2023 on Tuesday, February 20, 2024, before the opening of the stock markets. The announcement will be made by ALLETE's Chair, President, and Chief Executive Officer, Bethany M. Owen, along with Senior Vice President and Chief Financial Officer, Steven W. Morris.
During a conference call scheduled for 10 a.m. Eastern time, Owen and Morris will provide a comprehensive overview of the financial results, highlighting the company's performance and discussing various factors related to the outcome. Additionally, they will provide guidance on the earnings expected for the year 2024.
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