Allete
ALE

$64.56

0.14%

Market Cap: 3.73B

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: 1,583

Utilities Electric & Other Services Combined

0

Funds holding %

of 6,702 funds

–

Analysts bullish %

0

News positive %

of 6 articles

Fund manager confidence

Based on 2024 Q1 SEC filings by fund managers ($100M+ AUM)

0.12% more ownership

Funds ownership: 76.59% [Q4 2023] → 76.71% (+0.12%) [Q1 2024]

2% less capital invested

Capital invested by funds: $2.69B [Q4 2023] → $2.63B (-$59.7M) [Q1 2024]

4% less funds holding

Funds holding: 317 [Q4 2023] → 303 (-14) [Q1 2024]

20% less repeat investments, than reductions

Existing positions increased: 95 | Existing positions reduced: 119

32% less first-time investments, than exits

New positions opened: 30 | Existing positions closed: 44

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Research analyst outlook

2 Wall Street Analysts provided 1 year price forecasts over the past 6 months

Low target

$59

9%

downside

Avg. target

$63

2%

downside

High target

$67

4%

upside

2 analyst ratings

0 positive

0%

2 neutral

100%

0 negative

0%

Mizuho Anthony Crowdell	4%upside $67	Neutral Maintained	16 May 2024
Wells Fargo Sarah Akers	9%downside $59	Equal-Weight Maintained	21 Feb 2024

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Financial journalist opinion

Based on 6 articles about ALE published over the past 30 days

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

ALLETE to Announce Second Quarter Financial Results August 1

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Inc. (NYSE:ALE) will announce its financial results for the second quarter before the stock markets open on Thursday, August 1, 2024. ALLETE, Inc. is an energy company headquartered in Duluth, Minnesota. In addition to its electric utilities, Minnesota Power and Superior Water, Light and Power of Wisconsin, ALLETE owns ALLETE Clean Energy, based in Duluth; BNI Energy in Bismarck, N.D.; and New Energy Equity, headquartered in Annapolis, Maryland; and has an.

ALLETE to Announce Second Quarter Financial Results August 1

STOCKHOLDER ALERT: The M&A Class Action Firm Investigates Merger of ALLETE, Inc. - ALE

NEW YORK, June 26, 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.

STOCKHOLDER ALERT: The M&A Class Action Firm Investigates Merger of ALLETE, Inc. - ALE

New Analysis Quantifies Capacity Benefits of Grid United and ALLETE's North Plains Connector Interregional Transmission Line

HOUSTON--(BUSINESS WIRE)--Grid United, a leading developer of high voltage transmission infrastructure, today announced the results of a comprehensive study conducted by Astrapé Consulting, highlighting the substantial reliability and capacity benefits of connecting the Western and Eastern Interconnections across three independent system markets – Western Electricity Coordinating Council (WECC), Southwest Power Pool (SPP), and the Midcontinent Independent System Operator (MISO). Grid United and.

New Analysis Quantifies Capacity Benefits of Grid United and ALLETE's North Plains Connector Interregional Transmission Line

STOCKHOLDER ALERT: The M&A Class Action Firm Investigates Merger of ALLETE, Inc. - ALE

NEW YORK , June 24, 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.

STOCKHOLDER ALERT: The M&A Class Action Firm Investigates Merger of ALLETE, Inc. - ALE

PGE joins Grid United and ALLETE in 3,000 megawatt east-west transmission line

The North Plains Connector transmission line will more than double the transfer capacity between the eastern and western U.S. electric grids, providing PGE access to new, diverse resources and bolstering reliability for customers. PORTLAND, Ore.

PGE joins Grid United and ALLETE in 3,000 megawatt east-west transmission line

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