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Allete Inc (ALE)
NYSE:ALE
Allete (ALE) Stock Price & Analysis
253 Followers
ALE Stock Chart & Stats
Day’s Range$0 - $0
52-Week Range$48.06 - $65.86
Previous Close$62.93
Volume119.90K
Average Volume (3M)398.52K
Market Cap
$3.64B
Enterprise Value$5.95B
Total Cash (Recent Filing)$71.90M
Total Debt (Recent Filing)$1.79B
Price to Earnings (P/E)15.1
Beta0.60
Next Earnings
Jul 31, 2024EPS Estimate
$0.87Next Dividend Ex-Date
May 14, 2024Dividend Yield4.35%
Share Statistics
EPS (TTM)4.16
Shares Outstanding57,578,222
10 Day Avg. Volume1,012,702
30 Day Avg. Volume398,522
Standard Deviation0.07
R-Squared0.35
Alpha-0.00745
Financial Highlights & Ratios
Price to Book (P/B)1.36
Price to Sales (P/S)1.93
Price to Cash Flow (P/CF)13.80
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/Revenue3.16
Enterprise Value/Gross Profit4.23
Enterprise Value/Ebitda10.88
Forecast
1Y Price Target
$57.67Price Target Upside-8.59% Downside
Rating ConsensusHold
Number of Analyst Covering3
Allete News
PremiumCompany Announcements
Allete Inc Set for Strategic Merger, Promises Shareholder Payout
PremiumCompany Announcements
Allete Inc Announces Executive Retirement and Successor Search
Bulls Say, Bears Say
Bulls Say
AcquisitionHolders will receive $67 per share in cash, representing a premium of about 19.1% to Allete’s closing share price.
Capital ExpenditureALE plans to increase capital expenditures by 30%, signaling confidence in future growth opportunities and investment in infrastructure.
Financial GrowthThe long-term outlook remains positive with the company maintaining its 5-7% earnings per share growth target through the next several years.
Bears Say
Financial GuidanceALE's guidance for the upcoming year fell short of the consensus estimate, which has contributed to a decline in share value.
Merger CommunicationALE will not be hosting a call to discuss the merger and canceled their 1Q24 call.
Regulatory ApprovalThe transaction will require regulatory approval from multiple authorities, which can be a lengthy and uncertain process.
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Risk Analysis
Main Risk Category
ProductionRisks related to the company’s ability to manufacture goods and services
ALE FAQ
What was Allete Inc’s price range in the past 12 months?
Allete Inc lowest stock price was $48.06 and its highest was $65.86 in the past 12 months.
What is Allete Inc’s market cap?
Currently, no data Available
When is Allete Inc’s upcoming earnings report date?
Allete Inc’s upcoming earnings report date is Jul 31, 2024 which is in 82 days.
How were Allete Inc’s earnings last quarter?
Allete Inc released its earnings results on May 09, 2024. The company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.984 by -$0.104.
Is Allete Inc overvalued?
According to Wall Street analysts Allete Inc’s price is currently Overvalued.
Does Allete Inc pay dividends?
Allete Inc pays a Quarterly dividend of $0.7 which represents an annual dividend yield of 4.35%. See more information on Allete Inc dividends here
What is Allete Inc’s EPS estimate?
Allete Inc’s EPS estimate is $0.87.
How many shares outstanding does Allete Inc have?
Allete Inc has 57,665,330 shares outstanding.
What happened to Allete Inc’s price movement after its last earnings report?
Allete Inc reported an EPS of $0.88 in its last earnings report, missing expectations of $0.984. Following the earnings report the stock price went up 0.271%.
Which hedge fund is a major shareholder of Allete Inc?
Among the largest hedge funds holding Allete Inc’s share is Hotchkis & Wiley Capital Management LLC. It holds Allete Inc’s shares valued at 12M.
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Allete Stock Smart Score
Neutral
1
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10
Analyst Consensus
Hold
Average Price Target:
$57.67 (-8.59% Downside)
$57.67 (-8.59% Downside)
Blogger Sentiment
Bullish
ALE Sentiment 100%
Sector Average 71%
Sector Average 71%
Hedge Fund Trend
Increased
By 1.0K Shares
Last Quarter.
Last Quarter.
Crowd Wisdom
Very Positive
Last 7 Days ▲ 10.3%
Last 30 Days ▲ 5.0%
Last 30 Days ▲ 5.0%
News Sentiment
Very Bullish
Bullish news 100%
Bearish news 0%
Bearish news 0%
Technicals
SMA
Positive
20 days / 200 days
Momentum
5.65%
12-Months-Change
Fundamentals
Return on Equity
8.65%
Trailing 12-Months
Asset Growth
-1.49%
Trailing 12-Months
Company Description
Allete Inc
ALLETE, Inc. engages in the provision of electric and natural gas utility services. It operates through the following business segments: Regulated Operations, ALLETE Clean Energy, U.S. Water Services, and Corporate and Other. The Regulated Operations segment includes regulated utilities; Minnesota Power; SWL&P; and investment in ATC, which regulates utilities that owns and maintains electric transmission assets. The ALLETE Clean Energy segment develops, acquires, and operates clean and renewable energy projects. The U.S. Water Services segment provides integrated water management for industry by combining chemical, equipment, engineering, and service for customized solutions to reduce water and energy usage and improve efficiency. The Corporate and Other segment consists of other business development and corporate expenditure of the firm. The company was founded in 1906 and is headquartered in Duluth, MN.
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ALE Company Deck
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ALE Earnings Call
Q4 2024
0:00 / 0:00
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ALE Stock 12 Month Forecast
Average Price Target
$57.67
▼(-8.59% Downside)
Technical Analysis
Best Analysts Covering ALE
1 Year
1 Year Success Rate
2/3 ratings generated profit
1 Year Average Return
-2.47%
downgraded a sell rating 11 months ago
Copying Julien Dumoulin Smith's trades and holding each position for 1 Year would result in 66.67% of your transactions generating a profit, with an average return of -2.47% per trade.
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