Allete Inc   (ALE)
Other Ticker:  
    Sector  Utilities    Industry Electric Utilities
   Industry Electric Utilities
   Sector  Utilities
Price: $50.4000 $-2.40 -4.545%
Day's High: $52.6 Week Perf: -6.44 %
Day's Low: $ 50.20 30 Day Perf: -8.2 %
Volume (M): 563 52 Wk High: $ 67.45
Volume (M$): $ 28,365 52 Wk Avg: $59.96
Open: $52.60 52 Wk Low: $47.77

 Market Capitalization (Millions $) 2,893
 Shares Outstanding (Millions) 57
 Employees 3,700
 Revenues (TTM) (Millions $) 1,912
 Net Income (TTM) (Millions $) 142
 Cash Flow (TTM) (Millions $) -31
 Capital Exp. (TTM) (Millions $) 252

Allete Inc
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 ' 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
   ALE is expected to report next financial results on November 07, 2023.


Stock Performances by Major Competitors

5 Days Decrease / Increase
• View Complete Report

Vivopower International Plc

Vivopower International Plc Faces Shocking -47.79% Revenue Drop in Q4 2023

Vivopower International Plc recently disclosed its disappointing financial results for the April to June 30, 2023 quarter. The company witnessed a significant decline in revenue by -47.79% to $10.74 million, which led to a shortfall per share of $-0.17. However, it's worth noting that these results need to be evaluated in the context of the prior reporting period, where the company had achieved exceptional performance. This article will delve into the reasons behind the decline, assess the impact on the company, and explore the potential for future growth.
Revenue Meltdown:
VVPR's revenue for the April to June 30, 2023 quarter experienced a drastic decline of -47.79% compared to the previous year. This sudden drop raises concerns among investors about the sustainability of the company's operations. However, it's essential to consider the pandemic's ongoing impact on global markets, which may have caused supply chain disruptions and reduced customer demand. These external factors have likely contributed to the revenue meltdown seen within the electric utilities industry.

Ocean Thermal Energy Corporation

Ocean Thermal Energy Corporation Shows Impressive Growth Despite Operating Shortfalls, Becoming More Competitive in the Electric Utilities Sector

Ocean Thermal Energy Corporation (OTEC) has recently released its financial results for the period of April to June 2023, revealing certain adjustments that stockholders had not anticipated. Despite facing operating shortfalls, a closer look at the figures suggests that the company is becoming more competitive and cost-effective. Additionally, OTEC's stock performance throughout the year has been impressive, with significant gains and steady growth.
Financial Analysis:
1. Operating Shortfall:
During the April-June 2023 period, OTEC experienced an operating shortfall of $-0.362602 million. This indicates that the company struggled to generate enough revenue to cover its expenses. However, compared to the previous quarter, OTEC's performance has improved significantly. In Q2 2022, the operating shortfall was $-0.389763 million, demonstrating the company's progress in becoming more cost-effective.

Genie Energy Ltd

Genie Energy Ltd Defies Market Trends, Achieving Remarkable Revenue Growth Despite Industry Challenges

Genie Energy Ltd (GNE) recently announced its financial results for the April to June 30, 2023 fiscal period, and it is evident that the company has faced some challenges. Despite a decline in income per share and net income, Genie Energy managed to see a significant increase in revenue during a period when the Electric Utilities industry as a whole experienced a decline.
In terms of earnings per share, Genie Energy saw a decrease from $1.30 in the same time frame a year ago to $0.57 this year. This drop may be concerning to some investors, as a substantial decline in earnings per share usually raises red flags. However, it is important to note that while the income per share declined, the revenue increased by 24.574%. This indicates that Genie Energy has been successful in growing its top line revenue despite the challenges faced by the industry.

Clearway Energy Inc

Clearway Energy Inc. sets the stage on fire with remarkable Q2 2023 earnings!

Clearway Energy Inc, a leading renewable energy company, has released its financial results for the period ending June 30, 2023. The company achieved a break-even point of $0.00 per share, representing a significant improvement compared to $0.30 per share in the same period last year and $0.37 per share in the preceding quarter. This is a positive sign for investors as it shows that the company has managed to cut its losses and stabilize its financial position.
One of the key drivers behind Clearway Energy's improved performance is its revenue growth. The company reported a 6.842% increase in revenue to $406.00 million, up from $380.00 million in the same quarter last year. This growth is even more impressive when compared sequentially, as the revenue surged by 40.972% from $288.00 million. This indicates that Clearway Energy has successfully expanded its operations and is generating more income from its renewable energy projects.

Oceantech Acquisitions I Corp

Oceantech Acquisitions I Corp Continues to Soar in Electric Utilities Industry; Reports Impressive Second Quarter Earnings for 2023

With the Electric Utilities industry facing closer scrutiny, the financial performance of Oceantech Acquisitions I Corp (OTEC) has come under analysis for the second quarter of 2023. The company's operating deficit of $-1.008654 million has caught the attention of industry reporters, especially as OTEC has not yet reported any revenue. The net deficit of $-0.538 million represents a significant increase from the previous year's $-0.006 million. As we eagerly await OTEC's upcoming financial reports on November 3, 2023, it is essential to consider how these figures will impact the company going forward.
1. Revenue Challenges:
The absence of reported revenue from OTEC during the April to June 30, 2023 reporting period is the most significant concern. A lack of revenue raises questions about OTEC's ability to generate income and its overall financial health. Without a sustainable revenue stream, the company may find it difficult to cover its operational costs, leading to continued deficits.


Allete Inc's Segments
• View Complete Report


About us


CSIMarket Company, Sector, Industry, Market Analysis, Stock Quotes, Earnings, Economy, News and Research. 
   Copyright © 2023 CSIMarket, Inc. All rights reserved. This site uses cookies to make your browsing experince better. By using this site, you agree to the Terms of Service and Privacy Policy - UPDATED (Read about our Privacy Policy)

Intraday data delayed per exchange requirements. All quotes are in local exchange time. Intraday data delayed 15 minutes for Nasdaq, and other exchanges. Fundamental and financial data for Stocks, Sector, Industry, and Economic Indicators provided by CSIMarket.com