Allete Inc Stock Today
| ALE Stock | USD 64.88 0.01 0.02% |
Performance13 of 100
| Odds Of DistressLess than 3
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Allete is trading at 64.88 as of the 30th of November 2024, a 0.02 percent increase since the beginning of the trading day. The stock's lowest day price was 64.8. Allete has a very small chance of experiencing financial distress in the next few years and had a good performance during the last 90 days. Equity ratings for Allete Inc are calculated daily based on our scoring framework. The performance scores are derived for the period starting the 3rd of June 2024 and ending today, the 30th of November 2024. Click here to learn more.
Business Domain Utilities | IPO Date 3rd of May 1973 |
The company operates through Regulated Operations, ALLETE Clean Energy, and Corporate and Other segments. ALLETE, Inc. was incorporated in 1906 and is headquartered in Duluth, Minnesota. Allete operates under UtilitiesDiversified classification in the United States and is traded on New York Stock Exchange. The company has 57.82 M outstanding shares of which 825.75 K shares are presently shorted by investors with about 3.39 days to cover. More on Allete Inc
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Allete Stock Highlights
ESG Sustainability
Environmental | Governance | Social |
| Chairman | Alan Hodnik | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Thematic Idea | Utilities (View all Themes) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Business Concentration | Electric Utilities, Utilities - Diversified, Utilities, NYSE Composite, WIG 30, WSE WIG INDEX, CECE Composite EUR, SP Midcap 400, Utilities, Electric Utilities, Utilities—Diversified, Utilities (View all Sectors) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Average Analyst Recommendation | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financial Strength
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Debt LevelsAllete can leverage the use of borrowed funds to amplify returns from an investment. In general, analyzing the relationship between debt to total assets helps investors to understand Allete's financial leverage. It provides some insight into what part of Allete's total assets is financed by creditors.
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Allete Inc (ALE) is traded on New York Stock Exchange in USA. It is located in 30 West Superior Street, Duluth, MN, United States, 55802-2093 and employs 1,564 people. Allete is listed under Electric Utilities category by Fama And French industry classification. The company currently falls under 'Mid-Cap' category with a total capitalization of 3.75 B. Allete Inc runs under Electric Utilities sector within Utilities industry. The entity has 57.82 M outstanding shares of which 825.75 K shares are presently shorted by investors with about 3.39 days to cover.
Allete Inc has about 36.4 M in cash with 585.3 M of positive cash flow from operations. This results in cash-per-share (CPS) ratio of 1.31.
Check Allete Probability Of Bankruptcy
Ownership AllocationAllete holds a total of 57.82 Million outstanding shares. The majority of Allete Inc outstanding shares are owned by other corporate entities. These outside corporations are usually referred to as non-private investors looking to acquire positions in Allete Inc to benefit from reduced commissions. Consequently, institutional investors are subject to a different set of regulations than regular investors in Allete. Please pay attention to any change in the institutional holdings of Allete Inc as this could imply that something significant has changed or is about to change at the company. Please note that no matter how many assets the company secures, if the real value of the firm is less than the current market value, you may not be able to make money on it.
Check Allete Ownership Details
Allete Stock Institutional Holders
| Instituion | Recorded On | Shares | |
| Charles Schwab Investment Management Inc | 2024-09-30 | 766.3 K | |
| Northern Trust Corp | 2024-09-30 | 665 K | |
| Nuveen Asset Management, Llc | 2024-06-30 | 647.2 K | |
| Amvescap Plc. | 2024-06-30 | 627 K | |
| Aristotle Capital Boston, Llc | 2024-06-30 | 602.2 K | |
| Cnh Partners, Llc | 2024-06-30 | 594.5 K | |
| Old Republic International Corp | 2024-09-30 | 541.1 K | |
| Gabelli Funds Llc | 2024-09-30 | 488.9 K | |
| Eckert Corp | 2024-09-30 | 398 K | |
| Blackrock Inc | 2024-06-30 | 7.5 M | |
| Vanguard Group Inc | 2024-09-30 | 6.3 M |
Allete Historical Income Statement
Allete Stock Against Markets
Allete Corporate Directors
| Barbara Nick | Independent Director | Profile | |
| Robert Powers | Independent Director | Profile | |
| Douglas Neve | Independent Director | Profile | |
| Charlene Thomas | Independent Director | Profile |
Already Invested in Allete Inc?
The danger of trading Allete Inc is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Allete is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Allete. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Allete Inc is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Allete Inc is a strong investment it is important to analyze Allete's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Allete's future performance. For an informed investment choice regarding Allete Stock, refer to the following important reports: Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Allete Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis. You can also try the Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Is Electric Utilities space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Allete. If investors know Allete will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Allete listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.48) | Dividend Share 2.793 | Earnings Share 3.12 | Revenue Per Share 27.217 | Quarterly Revenue Growth 0.075 |
The market value of Allete Inc is measured differently than its book value, which is the value of Allete that is recorded on the company's balance sheet. Investors also form their own opinion of Allete's value that differs from its market value or its book value, called intrinsic value, which is Allete's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Allete's market value can be influenced by many factors that don't directly affect Allete's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Allete's value and its price as these two are different measures arrived at by different means. Investors typically determine if Allete is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Allete's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.