Buy Allete
Amount
Latest price
$67.30
(£1.00 = $1.334)
Number of shares (est.)
0
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Metrics
Market Cap
$3.906B
P/E ratio
21.24
EPS
$3.169
Beta
0.82
Dividend rate
$2.87
Dividend yield
4.26%
About
ALLETE, Inc. is an energy company. The Company's segments include Regulated Operations, ALLETE Clean Energy, New Energy and Corporate and Other. The Regulated Operations segment includes its regulated utilities, Minnesota Power and Superior Water, Light and Power Company, as well as its investment in American Transmission Company LLC, a Wisconsin-based regulated utility that owns and maintains electric transmission assets in portions of Wisconsin, Michigan, Minnesota and Illinois. The ALLETE Clean Energy segment is focused on developing, acquiring, and operating clean and renewable energy projects. The New Energy segment is a renewable energy company with a primary focus on developing solar and energy storage facilities for external sale and internal ownership while also offering comprehensive operations, maintenance and asset management services. The Corporate and Other segment is comprised of its investment in Nobles 2, South Shore Energy, BNI Energy, ALLETE Properties and others.
CEO
Ms. Bethany M. Owen
Employees
1,564
Sector
Utilities
Company HQ
DULUTH, United States of America
Website
News
ALLETE Obtains Regulatory Approval from Minnesota Public Utilities Commission for Partnership with CPP Investments and Global Infrastructure Partners
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE: ALE) (the Company) today announced that the Minnesota Public Utilities Commission (MPUC) voted unanimously to approve its acquisition by Canada Pension Plan Investment Board (CPP Investments) and Global Infrastructure Partners (GIP). With all required regulatory approvals secured, the transaction is expected to close in late 2025 following issuance of the MPUC's written order. “We are grateful to the Minnesota Public Utilities Commission for t.
This Dividend Opportunity Is Disappearing Soon: Allete
Allete's acquisition by Canada Pension Plan presents a short-term arbitrage opportunity. The market is rarely efficient, so we capitalize on its inefficiency to our benefit. Collect tax-advantaged income while waiting on the capital gains.
Allete: Merger Close Doubts Arise, But Buy Rating Maintained
Allete's merger is progressing, with all major approvals secured except for the Minnesota Public Utilities Commission (MPUC). The Minnesota Commerce Department now supports the merger, citing benefits for affordable, clean, and reliable energy. Despite this, the Administrative Law Judge recommended denying the merger, citing unresolved concerns, even after reviewing the settlement agreement.
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