ALLETE

ALLETE, Inc. engages in the provision of electric and natural gas utility services. It operates through the following business segments: Regulated Operations, ALLETE Clean Energy, and U.S. Water Services. The Regulated Operations segment includes regulated utilities, Minnesota Power, SWL&P, and investment in ATC, which regulates utilities that own and maintain electric transmission assets. The ALLETE Clean Energy segment develops, acquires, and operates clean and renewable energy projects. The U.S. Water Services segment provides integrated water management for industry by combining chemical, equipment, engineering, and service for customized solutions to reduce water and energy usage and improve efficiency. The company was founded in 1906 and is headquartered in Duluth, MN.

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ALLETE reports solid earnings growth, focuses on clean energy future

ALLETE's strong financial performance in 2022 and positive 2023 guidance reflect its commitment to sustainable energy and long-term growth objectives.
Despite challenges such as market volatility and cost drivers, the company remains focused on innovation, customer affordability, and regulatory support.
With a strategic focus on clean energy leadership, ALLETE is well-positioned to navigate uncertainties and deliver value to investors and customers.

ALLETE reports Q1 earnings dip, remains strong in renewable energy

ALLETE's Q1 performance showed a slight decline in earnings but maintained stability and confidence in its full-year guidance.
The company's strengths lie in its leadership in renewable energy investments, strong financial position, and commitment to sustainability.
Challenges from operational impacts and upcoming rate cases are balanced by opportunities in renewable energy projects and market alignment.
Overall, ALLETE's strategic focus on clean energy transition positions it well for future growth and resilience in the evolving energy landscape.

ALLETE reports robust Q2 earnings, advances clean energy initiatives

ALLETE's strong Q2 performance and reaffirmed full-year guidance reflect a resilient financial outlook
The company's strategic focus on clean energy initiatives and sustainable growth underscores its commitment to long-term success
While facing challenges related to income variances and market dynamics, ALLETE remains poised to capitalize on opportunities in the clean energy sector

ALLETE reports robust Q3 earnings, eyes clean energy growth

ALLETE delivered strong earnings growth in Q3 2023, driven by robust performance in both core operations and clean energy segment.
While facing challenges related to regulatory filings and potential customer impact, ALLETE's strategic initiatives and financial strength position it well for future growth.
Opportunities lie in the company's focus on sustainability, grants received for projects, and the potential for further expansion and innovation in clean energy.

ALLETE reports strong Q4 earnings, eyes growth in renewables

ALLETE's Q4 2023 performance exceeded expectations, with full-year earnings showing significant growth compared to the previous year.
The company's focus on renewable energy projects, grid modernization, and regulatory approvals positions it for future earnings growth.
Challenges in ALLETE Clean Energy are being addressed, while New Energy Equity continues to outperform, showcasing operational resilience.
The dividend increase and consistent dividends paid reflect ALLETE's commitment to shareholder value and long-term growth.

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ALLETE, Inc. engages in the provision of electric and natural gas utility services. It operates through the following business segments: Regulated Operations, ALLETE Clean Energy, and Corporate and Other. The Regulated Operations segment includes regulated utilities, Minnesota Power, SWL&P, and investment in ATC, which regulates utilities that own and maintain electric transmission assets. The ALLETE Clean Energy segment develops, acquires, and operates clean and renewable energy projects. The Corporate and Other segment includes New Energy, South Shore Energy, BNI Energy, ALLETE Properties, a small amount of non-rate base generation, land holdings, and earnings on cash and investments. The company was founded on January 25, 1906 and is headquartered in Duluth, MN.

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Should Value Investors Buy Allete (ALE) Stock?

Allete (ALE) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

Allete (ALE) Moves to Buy: Rationale Behind the Upgrade

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Investors looking for stocks in the Utility - Electric Power sector might want to consider either Allete (ALE) or Pinnacle West (PNW). But which of these two stocks offers value investors a better bang for their buck right now?

ALE vs. PNW: Which Stock Is the Better Value Option?

Allete , a U.S. power utility and renewable energy developer that has a market value of about $5 billion, including debt, is exploring a sale of the company, people familiar with the matter said on Tuesday.

Exclusive: US power utility Allete explores sale, sources say

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DULUTH, Minn.--(BUSINESS WIRE)--Minnesota Power, a utility division of ALLETE Inc. (NYSE: ALE), took an important step in advancing its EnergyForward vision for 100% carbon-free energy with the issuance of a Request for Proposals (RFP) for up to 300 megawatts of regional solar energy to come online by 2027. The RFP follows Minnesota Power's 2021 Integrated Resource Plan approved by the Minnesota Public Utilities Commission, which calls for the company to acquire up to 300 megawatts of regional.

Minnesota Power Advances EnergyForward with Request for Proposals for up to 300 Megawatts of Solar Energy

ALLETE, Inc. (NYSE:ALE ) Q3 2023 Earnings Conference Call November 2, 2023 10:00 AM ET Company Participants Bethany Owen - Chair, President and CEO Steve Morris - Senior Vice President and Chief Financial Officer Jeff Scissons - Corporate Development and Clean Energy Strategy Officer Frank Frederickson - Minnesota Power's Vice President, Customer Experience and Engineering Services Conference Call Participants Richard Sunderland - JPMorgan Alex Mortimer - Mizuho Securities Brian Russo - Sidoti Tanner James - Bank of America Operator Good day. And welcome to the ALLETE Third Quarter of 2023 Financial Results Call.

ALLETE, Inc. (ALE) Q3 2023 Earnings Call Transcript

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DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE: ALE) today reported third quarter 2023 earnings of $1.49 per share on net income of $85.9 million. Last year's third quarter results were 59 cents per share on net income of $33.7 million. “We are pleased with our solid financial results this quarter and the positive momentum going into the end of the year,” said ALLETE Chair, President, and Chief Executive Officer Bethany Owen. “We continue to deliver on our Sustainability in Action strategy,.

ALLETE, Inc. reports third quarter earnings of $1.49 per share; raises full-year 2023 earnings guidance to a range of $4.30 to $4.40 per share reflecting increased earnings from ALLETE Clean Energy

Investors with an interest in Utility - Electric Power stocks have likely encountered both Allete (ALE) and Pinnacle West (PNW). But which of these two stocks presents investors with the better value opportunity right now?

ALE or PNW: Which Is the Better Value Stock Right Now?

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ALLETE (ALE) makes a strong case for investment, given its earnings growth prospects, strong ROE and ability to increase shareholders' value.

Here's Why You Should Add ALLETE (ALE) to Your Portfolio Now

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Inc. (NYSE:ALE) will announce its financial results for the third quarter before the stock markets open on Thursday, November 2, 2023. Following the release, ALLETE Chair, President and Chief Executive Officer Bethany M. Owen, and Senior Vice President and Chief Financial Officer Steve W. Morris will present an overview of results and discuss other factors related to performance during a conference call beginning at 10 a.m. Eastern time. Interested parties.

ALLETE to announce third quarter financial results November 2

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ALE vs. NEE: Which Stock Is the Better Value Option?

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ALE or IBDRY: Which Is the Better Value Stock Right Now?

ALLETE is the largest investor in renewable energy and has a long-term target of growing at 5-7% annually. The company operates in multiple sectors of the energy market, including coal-fired, biomass, hydroelectric, wind, and solar sources. ALE aims to maintain a solid payout ratio and has the potential for an annual ROI of 11%, making it a favorable investment.

Allete: A Potential Buy In Renewable Energy

Allete (ALE) came out with quarterly earnings of $0.90 per share, beating the Zacks Consensus Estimate of $0.78 per share. This compares to earnings of $0.67 per share a year ago.

Allete (ALE) Q2 Earnings and Revenues Top Estimates

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE: ALE) today reported second quarter 2023 earnings of 90 cents per share on net income of $51.5 million. Last year's second quarter results were 67 cents per share on net income of $37.6 million. Included in this year's results were earnings from another strong quarter of financial results at New Energy, which was acquired in April 2022. “We are very pleased with this quarter's solid results,” said ALLETE Chair, President, and Chief Executive Of.

ALLETE, Inc. reports second quarter earnings of 90 cents per share; reaffirms 2023 earnings guidance range of $3.55 to $3.85 per share

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Clean Energy has signed a 5-year power purchase agreement to sell wind power to Seattle City Light, the company's first municipal customer.

ALLETE Clean Energy adds new customer segment through power purchase agreement with Seattle City Light

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Inc. (NYSE:ALE) will announce its financial results for the second quarter before the stock markets open on Tuesday, August 8, 2023. Following the release, ALLETE Chair, President and Chief Executive Officer Bethany M. Owen, and Senior Vice President and Chief Financial Officer Steve W. Morris will present an overview of results and discuss other factors related to performance during a conference call beginning at 10 a.m. Eastern time. Interested parties m.

ALLETE to announce second quarter financial results August 8

ALLETE's (ALE) subsidiary, Minnesota Power, advances the high-voltage direct-current transmission system project to strengthen grid reliability and resiliency in Upper Midwest.

News for ALLETE Stock (ALE)