Allete
ALE

$63.48

0.13%

Market Cap: $3.67B

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: 1,646

Utilities Electric & Other Services Combined

0

Funds holding %

of 6,710 funds

–

Analysts bullish %

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

50% more first-time investments, than exits

New positions opened: 66 | Existing positions closed: 44

7% more funds holding

Funds holding: 308 [Q1] → 330 (+22) [Q2]

3% more repeat investments, than reductions

Existing positions increased: 105 | Existing positions reduced: 102

0% more capital invested

Capital invested by funds: $2.67B [Q1] → $2.68B (+$9.55M) [Q2]

3.33% less ownership

Funds ownership: 77.77% [Q1] → 74.44% (-3.33%) [Q2]

39% less call options, than puts

Call options by funds: $268K | Put options by funds: $442K

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Research analyst outlook

We haven’t received any recent analyst ratings for ALE.

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Financial journalist opinion

ALLETE shareholders approve proposed transaction with Canada Pension Plan Investment Board and Global Infrastructure Partners

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE: ALE) announced that its shareholders voted today to approve the company's proposed transaction with Canada Pension Plan Investment Board (CPP Investments) and Global Infrastructure Partners (GIP) at a special meeting of shareholders. As previously announced, under the terms of the merger agreement, CPP Investments and GIP will acquire all outstanding common shares of ALLETE for $67 per share in cash, or $6.2 billion, without interest. “We than.

ALLETE shareholders approve proposed transaction with Canada Pension Plan Investment Board and Global Infrastructure Partners

ALLETE applauds $700 million federal grant for Montana and North Plains Connector transmission project

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE applauds $700 million federal grant for Montana and North Plains Connector transmission project.

ALLETE applauds $700 million federal grant for Montana and North Plains Connector transmission project

Wall Street's Most Accurate Analysts Spotlight On 3 Utilities Stocks Delivering High-Dividend Yields

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout.

Wall Street's Most Accurate Analysts Spotlight On 3 Utilities Stocks Delivering High-Dividend Yields

ALLETE, Inc. reports second quarter 2024 earnings

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE: ALE) today reported second quarter 2024 earnings of 57 cents per share on net income of $33.0 million. Last year's second quarter results were 90 cents per share on net income of $51.5 million. Net income for the second quarter this year includes 25 cents per share of transaction expenses related to the merger agreement entered into on May 5, 2024, with Canada Pension Plan Investment Board and Global Infrastructure Partners, and a 4 cent per s.

ALLETE, Inc. reports second quarter 2024 earnings

ALE INVESTIGATION: The M&A Class Action Firm Continues to Investigate the Merger and August 21, 2024 Shareholder Vote of ALLETE, Inc.

NEW YORK, July 27, 2024 (GLOBE NEWSWIRE) -- NEW YORK, July 27, 2024 / GobeNewswire/-- Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and is investigating ALLETE, Inc. (NYSE: ALE ) , relating to its proposed merger with a partnership led by Canada Pension Plan Investment Board and Global Infrastructure Partners. Under the terms of the agreement, ALLETE stockholders will receive $67.00 per share in cash for each share of common stock owned as of the closing of the transaction.

ALE INVESTIGATION: The M&A Class Action Firm Continues to Investigate the Merger and August 21, 2024 Shareholder Vote of ALLETE, Inc.

CORRECTING and REPLACING ALLETE Board of Directors Declares Dividend on Common Stock

DULUTH, Minn.--(BUSINESS WIRE)--First paragraph, first sentence of release dated July 25, 2024 should read: The ALLETE, Inc. (NYSE:ALE) board of directors has declared a quarterly dividend of 70.5 cents per share of common stock (instead of The ALLETE, Inc. (NYSE:ALE) board of directors has declared a quarterly dividend of 70.05 cents per share of common stock). The updated release reads: ALLETE BOARD OF DIRECTORS DECLARES DIVIDEND ON COMMON STOCK The ALLETE, Inc. (NYSE:ALE) board of directors.

CORRECTING and REPLACING ALLETE Board of Directors Declares Dividend on Common Stock

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 70.05 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 September 1 to common stock shareholders of record at the close of business August 15, 2024. ALLETE, Inc. is an energy company headquartered in Duluth, Minnesota. In addition to its electric utiliti.

ALLETE Board of Directors Declares Dividend on Common Stock

URGENT UPDATE: The M&A Class Action Firm Investigates Merger and Looming Vote on August 21, 2024, of ALLETE, Inc. - ALE

NEW YORK , July 23, 2024 /PRNewswire/ -- Monteverde & Associates PC (the "M&A Class Action Firm"), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and is investigating ALLETE, Inc. (NYSE: ALE) , relating to its proposed merger with a partnership led by Canada Pension Plan Investment Board and Global Infrastructure Partners.

URGENT UPDATE: The M&A Class Action Firm Investigates Merger and Looming Vote on August 21, 2024, of ALLETE, Inc. - ALE

URGENT UPDATE: The M&A Class Action Firm Investigates Merger and Looming Vote on August 21, 2024, of ALLETE, Inc. - ALE

NEW YORK, July 20, 2024 (GLOBE NEWSWIRE) -- Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and is investigating ALLETE, Inc. (NYSE: ALE ) , relating to its proposed merger with a partnership led by Canada Pension Plan Investment Board and Global Infrastructure Partners. Under the terms of the agreement, ALLETE stockholders will receive $67.00 per share in cash for each share of common stock owned as of the closing of the transaction.

URGENT UPDATE: The M&A Class Action Firm Investigates Merger and Looming Vote on August 21, 2024, of ALLETE, Inc. - ALE

URGENT UPDATE: The M&A Class Action Firm Investigates Merger and Looming Vote on August 21, 2024, of ALLETE, Inc. - ALE

NEW YORK, NY / ACCESSWIRE / July 19, 2024 / Monteverde & Associates PC (the "M&A Class Action Firm"), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and is investigating ALLETE, Inc. (NYSE: ALE ), relating to its proposed merger with a partnership led by Canada Pension Plan Investment Board and Global Infrastructure Partners.

URGENT UPDATE: The M&A Class Action Firm Investigates Merger and Looming Vote on August 21, 2024, of ALLETE, Inc. - ALE

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