Allete, Inc. with ticker code (ALE) have now 6 analysts in total covering the stock. The consensus rating is pointing to ‘Buy’. The range between the high target price and low target price is between 80 and 54 and has a mean target at $66.83. Given that the stocks previous close was at $64.49 this now indicates there is a potential upside of 3.6%. The 50 day moving average now sits at $62.56 and the 200 day moving average is $60.72. The company has a market cap of $3,657m. Company Website: https://www.allete.com
The potential market cap would be $3,789m based on the market consensus.
ALLETE, Inc. 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 150,000 retail customers and 14 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 1,300 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 162 substations with a total capacity of 10,116 megavolt amperes. It serves taconite mining, paper, pulp and secondary wood products, pipeline, and other industries. The company was formerly known as Minnesota Power, Inc. and changed its name to ALLETE, Inc. in May 2001. The company was incorporated in 1906 and is headquartered in Duluth, Minnesota.
The company has a dividend yield of 4.2% with the ex dividend date set at 14-2-2023 (DMY).
Other points of data to note are a P/E ratio of 19.1, revenue per share of 28.1 and a 1.36% return on assets.
