Allete with ticker code (ALE) have now 7 analysts covering the stock. The analyst consensus points to a rating of ‘Buy’. The range between the high target price and low target price is between 83 and 50 with a mean TP of 62.86. Now with the previous closing price of 65.99 this would indicate that there is a downside of -4.7%. The 50 day moving average now sits at 56.5 while the 200 day moving average is 60.18. The company has a market capitalisation of $3,767m. Company Website: https://www.allete.com
The potential market cap would be $3,588m based on the market concensus.
ALLETE operates as an energy company. The company operates through Regulated Operations, ALLETE Clean Energy, and Corporate and Other segments. It generates electricity from coal-fired, biomass co-fired / natural gas, hydroelectric, wind, and solar. The company provides regulated utility electric services in northwestern Wisconsin to approximately 15,000 electric customers, 13,000 natural gas customers, and 10,000 water customers, as well as regulated utility electric services in northeastern Minnesota to approximately 145,000 retail customers and 15 non-affiliated municipal customers. It also owns and maintains electric transmission assets in Wisconsin, Michigan, Minnesota, and Illinois. In addition, the company focuses on developing, acquiring, and operating clean and renewable energy projects; and owns and operates approximately 1,000 megawatts of wind energy generation facility. Further, it is involved in the coal mining operations in North Dakota; and real estate investment activities in Florida. The company owns and operates 158 substations with a total capacity of 10,066 megavolt amperes. It serves taconite mining, paper, pulp and secondary wood products, pipeline, and other industries. The company was formerly known as Minnesota Power and changed its name to ALLETE in May 2001. ALLETE was incorporated in 1906 and is headquartered in Duluth, Minnesota.
