Buy Allete
Amount
Latest price
$65.80
(£1.00 = $1.236)
Number of shares (est.)
0
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Metrics
Market Cap
$3.798B
P/E ratio
21.03
EPS
$3.124
Beta
0.73
Dividend rate
$2.793
Dividend yield
4.25%
About
ALLETE, Inc. is a clean-energy transformation company that owns, operates and developing wind energy generation to reduce carbon footprint. The Company’s segments include Regulated Operations and ALLETE Clean Energy. Regulated Operations includes regulated utilities, Minnesota Power, and SWL&P, as well as investment in ATC, a Wisconsin-based regulated utility that owns and maintains electric transmission assets in portions of Wisconsin, Michigan, Minnesota, and Illinois. Minnesota Power provides regulated utility electric service in northeastern Minnesota to approximately 150,000 retail customers. ALLETE Clean Energy segment is focused on developing, acquiring, and operating clean and renewable energy projects. The segment owns and operates, in seven states, more than 1,200 MW of nameplate capacity wind energy generation with a contract under power sales agreements (PSAs) of various durations. It engages in the development of wind energy facilities to operate under long-term PSAs.
CEO
Ms. Bethany M. Owen
Employees
1,513
Sector
Utilities
Company HQ
DULUTH, United States of America
Website
News
Allete, Inc.: 11% Return Beats A Bank For Short-Term Idle Cash
Allete's pending acquisition by CPP Investments and GIP at $67 per share offers a potential 11% annual return, assuming a mid-2025 close. Shareholders can benefit from continued dividends and a fixed exit price, making this a higher return investment compared to bank deposits, with fairly low risk. The investment thesis maintains a Hold recommendation for current shareholders and a Buy for new investors seeking a reasonably secure 11% annual return.
23 Upcoming Dividend Increases, Including 2 Kings
Excited to announce dividend hikes for 23 companies, including dividend kings SJW Group and California Water Service Group, with 5% and 7.1% increases. Companies with consistent dividend growth indicate financial health, attracting investors and boosting stock prices, leading to long-term wealth accumulation. Investment strategy focuses on stocks with rising dividends and outperforming benchmarks, using data from U.S. Dividend Champions and NASDAQ.
ALLETE Board of Directors Raises Quarterly Common Stock Dividend
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE:ALE) today announced that its Board of Directors has increased the quarterly dividend on the company's common stock to $0.73 per share, a 3.5 percent increase. “This dividend increase reflects the ALLETE Board of Directors' confidence in our growth outlook for ALLETE,” said ALLETE Chair, President and CEO Bethany Owen. “We are pleased to deliver another dividend increase to our shareholders – adding to our track record of more than 75 consecuti.
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