ALLETE Key Executives
This section highlights ALLETE's key executives, including their titles and compensation details.
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ALLETE Earnings
This section highlights ALLETE's earnings, including key dates, EPS, earnings reports, and earnings call transcripts.
Next Earnings Date
Last Earnings Results
Earnings Call Transcripts
| Transcript | Quarter | Year | Date | Estimated EPS | Actual EPS |
|---|---|---|---|---|---|
| Read Transcript | Q4 | 2023 | 2024-02-20 | $0.97 | $0.89 |
| Read Transcript | Q3 | 2023 | 2023-11-04 | N/A | N/A |
| Read Transcript | Q2 | 2023 | 2023-08-08 | $0.80 | $0.90 |
| Read Transcript | Q1 | 2023 | 2023-05-03 | $1.19 | $1.02 |
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 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, Inc. and changed its name to ALLETE, Inc. in May 2001. ALLETE, Inc. was incorporated in 1906 and is headquartered in Duluth, Minnesota.
$65.69
Stock Price
$3.81B
Market Cap
1.62K
Employees
Duluth, MN
Location
Financial Statements
Access annual & quarterly financial statements for ALLETE, including income statements, balance sheets, and cash flow statements..
Annual Income Statement
| Breakdown | December 31, 2024 | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 |
|---|---|---|---|---|---|
| Revenue | $1.53B | $1.88B | $1.57B | $1.42B | $1.17B |
| Cost of Revenue | $361.40M | $1.39B | $1.12B | $965.70M | $744.30M |
| Gross Profit | $1.17B | $489.90M | $446.80M | $453.50M | $424.80M |
| Gross Profit Ratio | 76.38% | 26.10% | 28.45% | 32.00% | 36.34% |
| Research and Development Expenses | $- | $- | $- | $- | $- |
| General and Administrative Expenses | $- | $- | $- | $- | $- |
| Selling and Marketing Expenses | $- | $- | $- | $- | $- |
| Selling General and Administrative Expenses | $- | $8.90M | $9.80M | $6.10M | $8.60M |
| Other Expenses | $1.37B | $300.10M | $312.60M | $302.20M | $273.90M |
| Operating Expenses | $1.37B | $309.00M | $312.60M | $302.20M | $273.90M |
| Cost and Expenses | $1.73B | $1.70B | $1.44B | $1.27B | $1.02B |
| Interest Income | $4.00M | $10.30M | $75.20M | $2.30M | $1.60M |
| Interest Expense | $81.70M | $80.80M | $75.20M | $69.10M | $65.60M |
| Depreciation and Amortization | $278.20M | $251.80M | $242.20M | $231.70M | $217.80M |
| EBITDA | $486.30M | $539.40M | $417.50M | $411.70M | $405.50M |
| EBITDA Ratio | 31.79% | 28.69% | 26.92% | 29.51% | 35.37% |
| Operating Income | $160.10M | $180.90M | $134.20M | $151.30M | $150.90M |
| Operating Income Ratio | 10.47% | 9.62% | 8.54% | 10.66% | 12.91% |
| Total Other Income Expenses Net | $23.90M | $25.90M | $-34.10M | $-40.40M | $-28.80M |
| Income Before Tax | $184.00M | $206.80M | $100.10M | $110.90M | $122.10M |
| Income Before Tax Ratio | 12.03% | 11.00% | 6.37% | 7.81% | 10.44% |
| Income Tax Expense | $4.70M | $27.90M | $-31.20M | $-26.90M | $-39.50M |
| Net Income | $179.30M | $247.10M | $131.30M | $169.20M | $174.20M |
| Net Income Ratio | 11.72% | 13.15% | 8.36% | 11.92% | 14.90% |
| EPS | $3.11 | $4.31 | $2.35 | $3.23 | $3.36 |
| EPS Diluted | $3.10 | $4.30 | $2.34 | $3.22 | $3.36 |
| Weighted Average Shares Outstanding | 57.70M | 57.30M | 55.90M | 52.40M | 51.90M |
| Weighted Average Shares Outstanding Diluted | 57.80M | 57.40M | 56.00M | 52.50M | 51.90M |
| SEC Filing | Source | Source | Source | Source | Source |
| Breakdown | December 31, 2024 | September 30, 2024 | June 30, 2024 | March 31, 2024 | December 31, 2023 | September 30, 2023 | June 30, 2023 | March 31, 2023 | December 31, 2022 | September 30, 2022 | June 30, 2022 | March 31, 2022 | December 31, 2021 | September 30, 2021 | June 30, 2021 | March 31, 2021 | December 31, 2020 | September 30, 2020 | June 30, 2020 | March 31, 2020 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $364.80M | $407.20M | $354.50M | $403.30M | $402.70M | $378.80M | $533.40M | $564.90M | $425.80M | $388.30M | $373.10M | $383.50M | $399.00M | $345.40M | $335.60M | $339.20M | $320.40M | $293.90M | $243.20M | $311.60M |
| Cost of Revenue | $241.90M | $275.80M | $308.80M | $337.30M | $345.50M | $264.20M | $408.90M | $434.90M | $314.00M | $277.70M | $282.60M | $249.60M | $272.30M | $241.20M | $231.00M | $221.20M | $212.30M | $185.60M | $161.00M | $185.40M |
| Gross Profit | $122.90M | $131.40M | $45.70M | $66.00M | $57.20M | $114.60M | $124.50M | $130.00M | $111.80M | $110.60M | $90.50M | $133.90M | $126.70M | $104.20M | $104.60M | $118.00M | $108.10M | $108.30M | $82.20M | $126.20M |
| Gross Profit Ratio | 33.69% | 32.30% | 12.90% | 16.40% | 14.20% | 30.30% | 23.30% | 23.00% | 26.30% | 28.50% | 24.30% | 34.90% | 31.80% | 30.20% | 31.20% | 34.80% | 33.74% | 36.85% | 33.80% | 40.50% |
| Research and Development Expenses | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| General and Administrative Expenses | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Selling and Marketing Expenses | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Selling General and Administrative Expenses | $- | $-346.60M | $3.70M | $4.30M | $200.00K | $3.10M | $3.00M | $2.00M | $2.20M | $3.70M | $4.10M | $2.60M | $4.30M | $2.50M | $2.60M | $1.90M | $2.10M | $3.40M | $3.60M | $2.60M |
| Other Expenses | $84.80M | $432.70M | $-16.30M | $-18.70M | $-14.10M | $61.00M | $600.00K | $81.70M | $78.10M | $2.00M | $76.80M | $80.50M | $1.00M | $1.00M | $1.80M | $1.70M | $4.40M | $2.90M | $5.20M | $3.00M |
| Operating Expenses | $84.80M | $86.10M | $16.30M | $18.70M | $14.10M | $78.60M | $71.00M | $81.70M | $78.10M | $77.20M | $76.80M | $80.50M | $76.70M | $73.10M | $76.40M | $76.00M | $71.70M | $66.70M | $69.50M | $66.00M |
| Cost and Expenses | $326.70M | $361.90M | $325.10M | $356.00M | $359.60M | $342.80M | $479.90M | $516.60M | $392.10M | $354.90M | $359.40M | $330.10M | $349.00M | $314.30M | $307.40M | $297.20M | $284.00M | $252.30M | $230.50M | $251.40M |
| Interest Income | $100.00K | $1.20M | $800.00K | $1.90M | $1.60M | $6.60M | $1.00M | $1.10M | $19.90M | $- | $- | $100.00K | $600.00K | $- | $- | $- | $1.20M | $- | $- | $- |
| Interest Expense | $20.90M | $20.30M | $20.10M | $20.40M | $19.90M | $20.50M | $21.10M | $19.30M | $18.60M | $18.80M | $18.60M | $18.30M | $17.30M | $17.30M | $17.40M | $16.00M | $17.70M | $16.30M | $15.90M | $18.30M |
| Depreciation and Amortization | $71.30M | $70.80M | $66.00M | $65.00M | $63.60M | $63.10M | $62.80M | $62.30M | $60.80M | $60.60M | $61.00M | $61.70M | $58.30M | $57.50M | $57.90M | $58.00M | $58.30M | $56.70M | $57.10M | $56.00M |
| EBITDA | $120.90M | $126.70M | $107.20M | $126.40M | $106.90M | $172.50M | $124.20M | $120.70M | $106.10M | $99.00M | $92.10M | $122.60M | $116.60M | $94.00M | $93.00M | $108.10M | $103.90M | $103.00M | $78.80M | $124.70M |
| EBITDA Ratio | 33.14% | 31.11% | 26.91% | 27.85% | 26.50% | 45.75% | 23.40% | 21.61% | 24.99% | 25.32% | 25.27% | 32.28% | 29.57% | 27.91% | 28.46% | 32.13% | 32.99% | 36.17% | 33.47% | 39.96% |
| Operating Income | $38.10M | $45.30M | $29.40M | $47.30M | $43.10M | $36.00M | $53.50M | $48.30M | $33.70M | $33.40M | $31.10M | $53.40M | $50.00M | $31.10M | $28.20M | $42.00M | $36.40M | $41.60M | $12.70M | $60.20M |
| Operating Income Ratio | 10.44% | 11.12% | 8.29% | 11.73% | 10.70% | 9.50% | 10.03% | 8.55% | 7.91% | 8.60% | 8.34% | 13.92% | 12.53% | 9.00% | 8.40% | 12.38% | 11.36% | 14.15% | 5.22% | 19.32% |
| Total Other Income Expenses Net | $-9.40M | $-9.70M | $-8.30M | $-6.30M | $-4.60M | $52.90M | $-13.20M | $-9.20M | $-8.30M | $-13.80M | $-1.20M | $-10.80M | $-9.00M | $-11.90M | $-10.50M | $-9.00M | $-6.70M | $-8.30M | $-4.30M | $-9.50M |
| Income Before Tax | $28.70M | $35.60M | $21.10M | $41.00M | $38.50M | $88.90M | $40.30M | $39.10M | $25.40M | $19.60M | $12.50M | $42.60M | $41.00M | $19.20M | $17.70M | $33.00M | $29.70M | $33.30M | $8.40M | $50.70M |
| Income Before Tax Ratio | 7.87% | 8.74% | 5.95% | 10.17% | 9.56% | 23.47% | 7.56% | 6.92% | 5.97% | 5.05% | 3.35% | 11.11% | 10.28% | 5.56% | 5.27% | 9.73% | 9.27% | 11.33% | 3.45% | 16.27% |
| Income Tax Expense | $-3.60M | $2.90M | $1.40M | $4.00M | $7.50M | $19.30M | $-400.00K | $1.50M | $-11.80M | $-7.20M | $-8.30M | $-3.90M | $-7.60M | $-4.90M | $-4.00M | $-10.40M | $-11.70M | $-5.50M | $-8.50M | $-13.80M |
| Net Income | $50.60M | $45.00M | $33.00M | $50.70M | $51.50M | $85.90M | $51.50M | $37.60M | $37.20M | $33.70M | $20.80M | $46.50M | $61.90M | $27.60M | $27.90M | $51.80M | $47.10M | $40.70M | $20.10M | $66.30M |
| Net Income Ratio | 13.87% | 11.05% | 9.31% | 12.57% | 12.79% | 22.68% | 9.66% | 6.66% | 8.74% | 8.68% | 5.57% | 12.13% | 15.51% | 7.99% | 8.31% | 15.27% | 14.70% | 13.85% | 8.26% | 21.28% |
| EPS | $0.88 | $0.78 | $0.57 | $0.88 | $0.90 | $1.50 | $0.90 | $0.66 | $0.65 | $0.59 | $0.37 | $0.87 | $0.93 | $0.53 | $0.53 | $0.99 | $0.90 | $0.78 | $0.39 | $1.28 |
| EPS Diluted | $0.88 | $0.78 | $0.57 | $0.88 | $0.89 | $1.49 | $0.90 | $0.66 | $0.65 | $0.59 | $0.37 | $0.87 | $0.93 | $0.53 | $0.53 | $0.99 | $0.90 | $0.78 | $0.39 | $1.28 |
| Weighted Average Shares Outstanding | 57.70M | 57.80M | 57.70M | 57.60M | 57.50M | 57.40M | 57.30M | 57.30M | 57.20M | 57.10M | 56.10M | 53.30M | 52.40M | 52.40M | 52.20M | 52.10M | 52.10M | 51.90M | 51.80M | 51.70M |
| Weighted Average Shares Outstanding Diluted | 57.80M | 57.90M | 57.80M | 57.70M | 57.60M | 57.50M | 57.40M | 57.30M | 57.20M | 57.20M | 56.10M | 53.30M | 52.50M | 52.50M | 52.30M | 52.20M | 52.20M | 52.00M | 51.90M | 51.80M |
| SEC Filing | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source |
Annual Balance Sheet
| Breakdown | December 31, 2024 | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 |
|---|---|---|---|---|---|
| Cash and Cash Equivalents | $32.80M | $71.90M | $36.40M | $45.10M | $44.30M |
| Short Term Investments | $- | $- | $- | $- | $- |
| Cash and Short Term Investments | $32.80M | $71.90M | $36.40M | $45.10M | $44.30M |
| Net Receivables | $148.10M | $137.20M | $137.90M | $123.70M | $111.90M |
| Inventory | $154.60M | $175.40M | $455.90M | $97.70M | $74.20M |
| Other Current Assets | $99.70M | $83.60M | $87.80M | $24.80M | $24.50M |
| Total Current Assets | $435.20M | $468.10M | $718.00M | $291.30M | $254.90M |
| Property Plant Equipment Net | $5.18B | $5.02B | $5.02B | $5.12B | $4.86B |
| Goodwill | $- | $154.90M | $- | $-186.50M | $- |
| Intangible Assets | $- | $500.00K | $155.60M | $800.00K | $- |
| Goodwill and Intangible Assets | $155.30M | $155.40M | $155.60M | $-185.70M | $-195.70M |
| Long Term Investments | $340.10M | $331.20M | $322.70M | $318.00M | $301.20M |
| Tax Assets | $- | $12.80M | $158.10M | $185.70M | $195.70M |
| Other Non-Current Assets | $642.20M | $664.80M | $474.50M | $709.10M | $665.30M |
| Total Non-Current Assets | $6.32B | $6.19B | $6.13B | $6.14B | $5.83B |
| Other Assets | $- | $- | $- | $- | $- |
| Total Assets | $6.75B | $6.66B | $6.85B | $6.43B | $6.08B |
| Account Payables | $113.60M | $102.20M | $103.00M | $111.00M | $110.00M |
| Short Term Debt | $94.70M | $111.40M | $275.80M | $219.00M | $209.60M |
| Tax Payables | $54.60M | $51.00M | $69.10M | $65.10M | $59.40M |
| Deferred Revenue | $- | $- | $150.70M | $27.20M | $79.20M |
| Other Current Liabilities | $141.30M | $113.00M | $268.30M | $148.30M | $80.60M |
| Total Current Liabilities | $404.20M | $377.60M | $716.20M | $543.40M | $459.60M |
| Long Term Debt | $1.70B | $1.68B | $1.66B | $1.77B | $1.61B |
| Deferred Revenue Non-Current | $- | $- | $- | $900.10M | $917.20M |
| Deferred Tax Liabilities Non-Current | $253.40M | $192.70M | $158.10M | $185.70M | $195.70M |
| Other Non-Current Liabilities | $1.00B | $999.60M | $965.50M | $984.80M | $1.22B |
| Total Non-Current Liabilities | $2.96B | $2.87B | $2.78B | $2.95B | $2.82B |
| Other Liabilities | $- | $-500.00K | $- | $- | $- |
| Total Liabilities | $3.36B | $3.25B | $3.50B | $3.49B | $3.28B |
| Preferred Stock | $- | $- | $- | $- | $- |
| Common Stock | $1.82B | $1.80B | $1.78B | $1.54B | $1.46B |
| Retained Earnings | $1.04B | $1.03B | $934.80M | $900.20M | $864.80M |
| Accumulated Other Comprehensive Income Loss | $-18.10M | $-20.50M | $-24.40M | $-23.80M | $-31.10M |
| Other Total Stockholders Equity | $- | $- | $- | $- | $- |
| Total Stockholders Equity | $2.85B | $2.81B | $2.69B | $2.41B | $2.29B |
| Total Equity | $2.85B | $3.41B | $3.35B | $2.95B | $2.80B |
| Total Liabilities and Stockholders Equity | $6.21B | $6.06B | $6.85B | $6.43B | $6.08B |
| Minority Interest | $400.00K | $597.50M | $656.40M | $533.20M | $505.60M |
| Total Liabilities and Total Equity | $6.21B | $6.06B | $6.85B | $6.43B | $6.08B |
| Total Investments | $340.10M | $331.20M | $322.70M | $318.00M | $301.20M |
| Total Debt | $1.80B | $1.79B | $1.93B | $1.99B | $1.82B |
| Net Debt | $1.77B | $1.72B | $1.90B | $1.95B | $1.77B |
Balance Sheet Charts
| Breakdown | December 31, 2024 | September 30, 2024 | June 30, 2024 | March 31, 2024 | December 31, 2023 | September 30, 2023 | June 30, 2023 | March 31, 2023 | December 31, 2022 | September 30, 2022 | June 30, 2022 | March 31, 2022 | December 31, 2021 | September 30, 2021 | June 30, 2021 | March 31, 2021 | December 31, 2020 | September 30, 2020 | June 30, 2020 | March 31, 2020 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and Cash Equivalents | $32.80M | $101.90M | $41.30M | $37.90M | $77.00M | $125.50M | $47.90M | $29.90M | $36.40M | $42.10M | $74.60M | $60.10M | $45.10M | $59.00M | $62.50M | $159.00M | $44.30M | $79.00M | $25.70M | $67.00M |
| Short Term Investments | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Cash and Short Term Investments | $32.80M | $101.90M | $41.30M | $37.90M | $77.00M | $125.50M | $47.90M | $29.90M | $36.40M | $42.10M | $74.60M | $60.10M | $45.10M | $59.00M | $62.50M | $159.00M | $44.30M | $79.00M | $25.70M | $67.00M |
| Net Receivables | $148.10M | $136.80M | $133.00M | $142.20M | $137.20M | $119.60M | $123.20M | $120.30M | $137.90M | $120.50M | $116.20M | $118.40M | $123.70M | $110.20M | $105.20M | $113.50M | $111.90M | $92.00M | $85.80M | $99.40M |
| Inventory | $154.60M | $166.60M | $184.30M | $182.70M | $175.40M | $180.30M | $194.30M | $346.90M | $455.90M | $472.20M | $355.80M | $196.60M | $97.70M | $89.60M | $88.10M | $74.00M | $74.20M | $74.80M | $82.00M | $79.00M |
| Other Current Assets | $99.70M | $78.10M | $151.00M | $76.30M | $83.60M | $152.30M | $160.80M | $72.60M | $87.80M | $87.40M | $113.40M | $105.40M | $24.80M | $19.90M | $23.50M | $31.90M | $24.50M | $19.30M | $29.50M | $29.40M |
| Total Current Assets | $435.20M | $483.40M | $432.20M | $433.20M | $468.10M | $503.20M | $446.20M | $569.70M | $718.00M | $722.20M | $660.00M | $480.50M | $291.30M | $278.70M | $279.30M | $378.40M | $254.90M | $265.10M | $223.00M | $274.80M |
| Property Plant Equipment Net | $5.18B | $5.11B | $5.09B | $5.02B | $5.02B | $5.01B | $4.99B | $4.99B | $5.02B | $5.02B | $5.04B | $5.09B | $5.12B | $5.07B | $5.04B | $4.95B | $4.86B | $4.72B | $4.67B | $4.52B |
| Goodwill | $- | $- | $154.90M | $154.90M | $154.90M | $154.90M | $154.90M | $154.90M | $- | $- | $- | $- | $432.80M | $- | $- | $- | $- | $- | $- | $- |
| Intangible Assets | $- | $155.30M | $500.00K | $500.00K | $500.00K | $155.50M | $155.50M | $155.50M | $155.60M | $155.80M | $151.10M | $- | $800.00K | $- | $- | $- | $- | $- | $- | $- |
| Goodwill and Intangible Assets | $155.30M | $155.30M | $155.40M | $155.40M | $155.40M | $155.50M | $155.50M | $155.50M | $155.60M | $155.80M | $151.10M | $-188.30M | $433.60M | $392.60M | $380.80M | $360.20M | $363.10M | $309.30M | $309.00M | $303.60M |
| Long Term Investments | $340.10M | $337.90M | $374.90M | $372.70M | $371.60M | $329.70M | $327.50M | $323.90M | $322.70M | $320.30M | $322.00M | $320.60M | $318.00M | $317.80M | $317.80M | $301.50M | $301.20M | $291.80M | $267.10M | $225.70M |
| Tax Assets | $- | $255.50M | $215.60M | $195.00M | $708.60M | $171.20M | $153.60M | $156.30M | $158.10M | $552.70M | $181.80M | $188.30M | $185.70M | $187.10M | $188.70M | $190.20M | $195.70M | $204.80M | $202.30M | $207.00M |
| Other Non-Current Assets | $642.20M | $392.30M | $390.10M | $425.90M | $637.20M | $474.70M | $500.10M | $508.00M | $474.50M | $634.80M | $481.90M | $661.20M | $89.80M | $85.20M | $86.20M | $93.40M | $106.50M | $86.00M | $89.10M | $85.30M |
| Total Non-Current Assets | $6.32B | $6.25B | $6.23B | $6.17B | $6.90B | $6.14B | $6.12B | $6.13B | $6.13B | $6.14B | $6.18B | $6.08B | $6.14B | $6.05B | $6.01B | $5.90B | $5.83B | $5.61B | $5.54B | $5.34B |
| Other Assets | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Assets | $6.75B | $6.74B | $6.66B | $6.60B | $7.37B | $6.64B | $6.57B | $6.70B | $6.85B | $6.86B | $6.84B | $6.56B | $6.43B | $6.33B | $6.29B | $6.27B | $6.08B | $5.88B | $5.76B | $5.62B |
| Account Payables | $113.60M | $110.80M | $94.10M | $84.20M | $102.20M | $112.30M | $89.30M | $84.90M | $103.00M | $124.30M | $134.80M | $75.90M | $111.00M | $101.90M | $100.00M | $107.00M | $110.00M | $79.00M | $86.10M | $164.40M |
| Short Term Debt | $94.70M | $45.60M | $45.90M | $20.70M | $114.80M | $114.00M | $109.70M | $179.40M | $275.80M | $312.30M | $394.80M | $282.50M | $219.00M | $382.40M | $368.20M | $304.20M | $209.60M | $410.80M | $516.30M | $329.90M |
| Tax Payables | $54.60M | $60.20M | $47.20M | $62.90M | $51.00M | $63.50M | $50.40M | $81.40M | $69.10M | $69.50M | $52.70M | $78.50M | $65.10M | $67.40M | $53.00M | $75.20M | $59.40M | $60.00M | $48.50M | $63.00M |
| Deferred Revenue | $7.80M | $- | $5.90M | $5.70M | $7.40M | $6.00M | $9.60M | $10.30M | $150.70M | $111.70M | $28.50M | $28.90M | $27.20M | $27.50M | $72.50M | $90.50M | $79.20M | $81.00M | $78.20M | $78.10M |
| Other Current Liabilities | $133.50M | $117.80M | $110.40M | $93.00M | $109.60M | $123.70M | $130.90M | $118.70M | $268.30M | $199.90M | $126.70M | $119.70M | $148.30M | $94.30M | $74.30M | $88.50M | $80.60M | $80.20M | $76.80M | $65.80M |
| Total Current Liabilities | $404.20M | $334.40M | $297.60M | $260.80M | $377.60M | $413.50M | $380.30M | $464.40M | $716.20M | $706.00M | $709.00M | $556.60M | $543.40M | $646.00M | $595.50M | $574.90M | $459.60M | $630.00M | $727.70M | $623.10M |
| Long Term Debt | $1.70B | $1.75B | $1.76B | $1.78B | $1.69B | $1.69B | $1.69B | $1.76B | $1.66B | $1.66B | $1.61B | $1.68B | $1.77B | $1.66B | $1.68B | $1.67B | $1.61B | $1.63B | $1.40B | $1.42B |
| Deferred Revenue Non-Current | $- | $- | $9.70M | $9.80M | $7.70M | $914.30M | $915.20M | $- | $- | $896.50M | $- | $- | $900.10M | $888.00M | $896.20M | $901.20M | $917.20M | $869.00M | $893.90M | $891.00M |
| Deferred Tax Liabilities Non-Current | $253.40M | $255.50M | $215.60M | $195.00M | $901.30M | $171.20M | $153.60M | $156.30M | $158.10M | $177.00M | $181.80M | $188.30M | $185.70M | $187.10M | $188.70M | $190.20M | $195.70M | $204.80M | $202.30M | $207.00M |
| Other Non-Current Liabilities | $1.00B | $1.00B | $996.80M | $957.60M | $991.40M | $968.80M | $971.50M | $961.80M | $965.50M | $958.10M | $983.00M | $987.30M | $984.80M | $982.50M | $989.20M | $996.10M | $1.22B | $972.40M | $998.40M | $996.50M |
| Total Non-Current Liabilities | $2.96B | $3.01B | $2.97B | $2.93B | $3.58B | $2.83B | $2.82B | $2.88B | $2.78B | $2.80B | $2.77B | $2.86B | $2.95B | $2.83B | $2.86B | $2.85B | $2.82B | $2.80B | $2.60B | $2.62B |
| Other Liabilities | $- | $- | $- | $1 | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Liabilities | $3.36B | $3.34B | $3.27B | $3.20B | $3.96B | $3.25B | $3.20B | $3.35B | $3.50B | $3.50B | $3.48B | $3.41B | $3.49B | $3.48B | $3.45B | $3.43B | $3.28B | $3.43B | $3.33B | $3.25B |
| Preferred Stock | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Common Stock | $1.82B | $1.82B | $1.81B | $1.81B | $1.80B | $1.80B | $1.79B | $1.79B | $1.78B | $1.78B | $1.77B | $1.54B | $1.54B | $1.50B | $1.47B | $1.47B | $1.46B | $1.45B | $1.45B | $1.44B |
| Retained Earnings | $1.04B | $1.03B | $1.03B | $1.04B | $1.03B | $1.01B | $966.90M | $954.20M | $934.80M | $929.20M | $932.60M | $932.00M | $900.20M | $873.40M | $878.80M | $883.80M | $864.80M | $849.90M | $841.30M | $853.20M |
| Accumulated Other Comprehensive Income Loss | $-18.10M | $-21.00M | $-20.90M | $-20.90M | $-20.50M | $-24.50M | $-24.40M | $-24.30M | $-24.40M | $-23.80M | $-23.90M | $-24.00M | $-23.80M | $-29.90M | $-30.30M | $-30.70M | $-31.10M | $-23.10M | $-23.30M | $-23.80M |
| Other Total Stockholders Equity | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Stockholders Equity | $2.85B | $2.83B | $2.82B | $2.82B | $2.81B | $2.79B | $2.73B | $2.72B | $2.69B | $2.68B | $2.68B | $2.45B | $2.41B | $2.34B | $2.32B | $2.32B | $2.29B | $2.28B | $2.27B | $2.27B |
| Total Equity | $3.39B | $2.83B | $3.40B | $3.41B | $3.41B | $3.40B | $3.37B | $3.36B | $3.35B | $3.35B | $3.36B | $3.14B | $2.95B | $2.85B | $2.84B | $2.85B | $2.80B | $2.45B | $2.43B | $2.37B |
| Total Liabilities and Stockholders Equity | $6.21B | $6.18B | $6.66B | $6.60B | $7.37B | $6.64B | $6.57B | $6.70B | $6.85B | $6.86B | $6.84B | $6.56B | $6.43B | $6.33B | $6.29B | $6.27B | $6.08B | $5.88B | $5.76B | $5.62B |
| Minority Interest | $542.50M | $700.00K | $573.90M | $586.00M | $597.50M | $610.10M | $634.40M | $642.20M | $656.40M | $671.30M | $678.50M | $694.20M | $533.20M | $514.50M | $519.30M | $525.70M | $505.60M | $164.60M | $166.50M | $101.90M |
| Total Liabilities and Total Equity | $6.21B | $6.18B | $6.66B | $6.60B | $7.37B | $6.64B | $6.57B | $6.70B | $6.85B | $6.86B | $6.84B | $6.56B | $6.43B | $6.33B | $6.29B | $6.27B | $6.08B | $5.88B | $5.76B | $5.62B |
| Total Investments | $340.10M | $337.90M | $374.90M | $372.70M | $371.60M | $329.70M | $327.50M | $323.90M | $322.70M | $320.30M | $322.00M | $320.60M | $318.00M | $317.80M | $317.80M | $301.50M | $301.20M | $291.80M | $267.10M | $225.70M |
| Total Debt | $1.80B | $1.80B | $1.80B | $1.80B | $1.80B | $1.81B | $1.80B | $1.94B | $1.93B | $1.98B | $2.00B | $1.96B | $1.99B | $2.04B | $2.05B | $1.97B | $1.82B | $2.04B | $1.92B | $1.75B |
| Net Debt | $1.77B | $1.70B | $1.76B | $1.76B | $1.73B | $1.69B | $1.76B | $1.91B | $1.90B | $1.93B | $1.93B | $1.90B | $1.95B | $1.99B | $1.98B | $1.81B | $1.77B | $1.96B | $1.89B | $1.68B |
Annual Cash Flow
| Breakdown | December 31, 2024 | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 |
|---|---|---|---|---|---|
| Net Income | $121.70M | $247.10M | $131.30M | $137.80M | $161.60M |
| Depreciation and Amortization | $278.20M | $251.80M | $250.30M | $241.50M | $228.10M |
| Deferred Income Tax | $-15.80M | $17.60M | $-38.50M | $-26.90M | $-39.70M |
| Stock Based Compensation | $6.60M | $7.30M | $4.90M | $5.90M | $6.10M |
| Change in Working Capital | $30.90M | $109.70M | $-152.40M | $-77.40M | $-30.70M |
| Accounts Receivables | $-13.10M | $1.80M | $-14.00M | $-13.00M | $-18.20M |
| Inventory | $7.50M | $277.10M | $-256.10M | $-23.50M | $-1.40M |
| Accounts Payables | $-2.70M | $-4.00M | $-1.30M | $15.00M | $11.80M |
| Other Working Capital | $39.20M | $-165.20M | $119.00M | $-55.90M | $-22.90M |
| Other Non Cash Items | $35.50M | $-48.20M | $25.70M | $-17.40M | $-25.60M |
| Net Cash Provided by Operating Activities | $457.10M | $585.30M | $221.30M | $263.50M | $299.80M |
| Investments in Property Plant and Equipment | $-354.90M | $-271.20M | $-220.50M | $-473.30M | $-717.80M |
| Acquisitions Net | $- | $-8.20M | $-160.90M | $-17.60M | $-99.10M |
| Purchases of Investments | $-2.40M | $-9.40M | $-2.40M | $-3.60M | $-8.70M |
| Sales Maturities of Investments | $2.00M | $1.00M | $2.20M | $6.40M | $12.80M |
| Other Investing Activities | $14.60M | $4.20M | $-2.40M | $2.90M | $-88.10M |
| Net Cash Used for Investing Activities | $-340.70M | $-283.60M | $-384.00M | $-485.20M | $-812.80M |
| Debt Repayment | $8.60M | $-129.70M | $-91.60M | $180.10M | $183.80M |
| Common Stock Issued | $12.90M | $14.90M | $248.00M | $69.90M | $18.10M |
| Common Stock Repurchased | $- | $- | $- | $- | $- |
| Dividends Paid | $-162.80M | $-155.50M | $-145.90M | $-131.90M | $-128.20M |
| Other Financing Activities | $700.00K | $7.80M | $144.70M | $86.10M | $412.00M |
| Net Cash Used Provided by Financing Activities | $-140.60M | $-262.50M | $155.20M | $204.20M | $485.70M |
| Effect of Forex Changes on Cash | $- | $- | $- | $- | $- |
| Net Change in Cash | $-24.20M | $39.20M | $-7.50M | $-17.50M | $-27.30M |
| Cash at End of Period | $55.20M | $79.40M | $40.20M | $47.70M | $65.20M |
| Cash at Beginning of Period | $79.40M | $40.20M | $47.70M | $65.20M | $92.50M |
| Operating Cash Flow | $457.10M | $585.30M | $221.30M | $263.50M | $299.80M |
| Capital Expenditure | $-354.90M | $-271.20M | $-220.50M | $-473.30M | $-717.80M |
| Free Cash Flow | $102.20M | $314.10M | $800.00K | $-209.80M | $-418.00M |
Cash Flow Charts
| Breakdown | December 31, 2024 | September 30, 2024 | June 30, 2024 | March 31, 2024 | December 31, 2023 | September 30, 2023 | June 30, 2023 | March 31, 2023 | December 31, 2022 | September 30, 2022 | June 30, 2022 | March 31, 2022 | December 31, 2021 | September 30, 2021 | June 30, 2021 | March 31, 2021 | December 31, 2020 | September 30, 2020 | June 30, 2020 | March 31, 2020 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $32.30M | $5.70M | $33.00M | $50.70M | $51.50M | $69.60M | $40.70M | $37.60M | $37.20M | $26.80M | $20.80M | $46.50M | $48.60M | $24.10M | $21.70M | $43.40M | $41.40M | $38.80M | $16.90M | $64.50M |
| Depreciation and Amortization | $71.30M | $70.80M | $66.00M | $65.00M | $63.60M | $65.00M | $64.30M | $64.20M | $62.70M | $60.60M | $63.20M | $63.80M | $60.70M | $59.90M | $60.40M | $60.50M | $58.30M | $56.70M | $57.10M | $56.00M |
| Deferred Income Tax | $-8.60M | $800.00K | $-5.10M | $-2.90M | $16.30M | $14.20M | $-6.60M | $-6.30M | $-18.80M | $-7.40M | $-8.30M | $-4.00M | $-7.50M | $-5.00M | $-4.00M | $-10.40M | $-11.80M | $-5.60M | $-8.50M | $-13.80M |
| Stock Based Compensation | $1.10M | $1.80M | $2.00M | $1.70M | $3.00M | $1.90M | $1.60M | $800.00K | $700.00K | $1.50M | $1.40M | $1.30M | $1.30M | $1.50M | $1.40M | $1.70M | $1.40M | $1.60M | $1.40M | $1.70M |
| Change in Working Capital | $-2.10M | $48.00M | $6.60M | $-46.60M | $5.00M | $27.60M | $110.30M | $-15.90M | $19.60M | $-7.40M | $-55.40M | $-109.20M | $-46.70M | $24.40M | $-60.00M | $4.90M | $-24.30M | $18.30M | $-15.60M | $-9.10M |
| Accounts Receivables | $-14.80M | $-4.30M | $11.50M | $-5.50M | $-15.40M | $3.20M | $-3.30M | $17.30M | $-17.20M | $-5.00M | $3.30M | $4.90M | $-13.80M | $-4.90M | $7.90M | $-2.20M | $-21.00M | $-6.70M | $12.90M | $-3.40M |
| Inventory | $5.00M | $11.40M | $-1.60M | $-7.30M | $1.50M | $14.00M | $152.60M | $109.00M | $5.30M | $-93.20M | $-69.30M | $-98.90M | $-8.10M | $-1.50M | $-14.10M | $200.00K | $600.00K | $7.30M | $-3.10M | $-6.20M |
| Accounts Payables | $400.00K | $9.70M | $-2.40M | $-10.40M | $4.00M | $5.30M | $-2.60M | $-10.70M | $-9.30M | $-9.80M | $28.40M | $-10.60M | $11.00M | $5.20M | $7.40M | $-8.60M | $9.60M | $13.80M | $-6.10M | $-5.50M |
| Other Working Capital | $7.30M | $31.20M | $-900.00K | $-23.40M | $14.90M | $5.10M | $-36.40M | $-115.60M | $40.80M | $100.60M | $-17.80M | $-4.60M | $-35.80M | $25.60M | $-61.20M | $15.50M | $-13.50M | $3.90M | $-19.30M | $6.00M |
| Other Non Cash Items | $-4.20M | $63.70M | $140.40M | $147.10M | $-74.10M | $10.10M | $28.90M | $12.00M | $38.70M | $11.30M | $-24.80M | $-3.20M | $-2.10M | $-1.40M | $-2.30M | $-11.60M | $-9.10M | $-10.40M | $4.40M | $-10.50M |
| Net Cash Provided by Operating Activities | $89.80M | $190.80M | $116.40M | $60.10M | $65.30M | $188.40M | $239.20M | $92.40M | $140.10M | $89.10M | $-3.10M | $-4.80M | $54.30M | $103.50M | $17.20M | $88.50M | $55.90M | $99.40M | $55.70M | $88.80M |
| Investments in Property Plant and Equipment | $-124.60M | $-96.30M | $-73.40M | $-60.60M | $-87.10M | $-63.60M | $-50.50M | $-70.00M | $-68.50M | $-62.50M | $-32.20M | $-57.30M | $-89.00M | $-90.90M | $-159.00M | $-134.40M | $-177.00M | $-120.90M | $-265.60M | $-154.30M |
| Acquisitions Net | $- | $-1.90M | $1.40M | $2.70M | $7.90M | $-2.30M | $-3.50M | $-800.00K | $-800.00K | $-1.20M | $-156.20M | $-2.70M | $-200.00K | $-300.00K | $-16.10M | $-1.00M | $-8.10M | $-24.40M | $-38.80M | $-27.80M |
| Purchases of Investments | $-500.00K | $3.60M | $-2.40M | $-3.10M | $-2.00M | $-400.00K | $-400.00K | $-800.00K | $-700.00K | $-500.00K | $-800.00K | $-400.00K | $-600.00K | $-1.00M | $-1.40M | $-600.00K | $-1.50M | $-4.90M | $-1.20M | $-1.10M |
| Sales Maturities of Investments | $300.00K | $300.00K | $- | $1.40M | $500.00K | $300.00K | $200.00K | $800.00K | $500.00K | $500.00K | $700.00K | $500.00K | $3.10M | $700.00K | $1.40M | $1.20M | $6.00M | $4.70M | $1.20M | $900.00K |
| Other Investing Activities | $4.00M | $11.20M | $-200.00K | $1.50M | $5.60M | $-3.30M | $-2.40M | $-3.90M | $-3.40M | $-200.00K | $1.40M | $-200.00K | $-1.40M | $100.00K | $300.00K | $3.90M | $1.00M | $-300.00K | $-500.00K | $-200.00K |
| Net Cash Used for Investing Activities | $-120.80M | $-83.10M | $-74.60M | $-58.10M | $-75.10M | $-69.30M | $-56.60M | $-74.70M | $-72.90M | $-63.90M | $-187.10M | $-60.10M | $-88.10M | $-91.40M | $-174.80M | $-130.90M | $-179.60M | $-145.80M | $-304.90M | $-182.50M |
| Debt Repayment | $13.60M | $-2.00M | $-1.00M | $-2.00M | $- | $4.20M | $-138.50M | $10.70M | $-41.10M | $-24.20M | $4.00M | $-30.30M | $-49.60M | $- | $76.20M | $153.50M | $-216.20M | $123.50M | $167.90M | $108.60M |
| Common Stock Issued | $3.00M | $3.50M | $4.40M | $2.00M | $3.50M | $3.70M | $4.40M | $3.30M | $3.60M | $4.00M | $237.10M | $3.30M | $38.90M | $20.90M | $5.10M | $5.00M | $5.30M | $4.90M | $4.60M | $3.30M |
| Common Stock Repurchased | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Dividends Paid | $-40.80M | $-40.70M | $-40.70M | $-40.60M | $-39.00M | $-38.90M | $-38.80M | $-38.80M | $-37.30M | $-37.10M | $-37.00M | $-34.50M | $-33.20M | $-33.00M | $-32.90M | $-32.80M | $-32.20M | $-32.10M | $-32.00M | $-31.90M |
| Other Financing Activities | $-600.00K | $-1.20M | $-1.10M | $2.20M | $1.40M | $-8.00M | $1.80M | $6.50M | $-800.00K | $-1.00M | $-7.20M | $153.70M | $60.00M | $-1.90M | $-500.00K | $28.50M | $346.90M | $-2.20M | $67.20M | $100.00K |
| Net Cash Used Provided by Financing Activities | $-24.80M | $-40.40M | $-38.40M | $-41.10M | $-34.10M | $-39.00M | $-171.10M | $-18.30M | $-75.60M | $-58.30M | $196.90M | $92.20M | $16.10M | $-14.00M | $47.90M | $154.20M | $103.80M | $94.10M | $207.70M | $80.10M |
| Effect of Forex Changes on Cash | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Net Change in Cash | $-55.80M | $69.70M | $3.40M | $-39.10M | $-51.80M | $80.10M | $11.50M | $-600.00K | $-8.40M | $-33.10M | $6.70M | $27.30M | $-17.70M | $-1.90M | $-109.70M | $111.80M | $-19.90M | $47.70M | $-41.50M | $-13.60M |
| Cash at End of Period | $55.20M | $111.00M | $41.30M | $37.90M | $77.00M | $131.20M | $51.10M | $39.60M | $40.20M | $48.60M | $81.70M | $75.00M | $47.70M | $65.40M | $67.30M | $177.00M | $65.20M | $85.10M | $37.40M | $78.90M |
| Cash at Beginning of Period | $111.00M | $41.30M | $37.90M | $77.00M | $128.80M | $51.10M | $39.60M | $40.20M | $48.60M | $81.70M | $75.00M | $47.70M | $65.40M | $67.30M | $177.00M | $65.20M | $85.10M | $37.40M | $78.90M | $92.50M |
| Operating Cash Flow | $89.80M | $190.80M | $116.40M | $60.10M | $65.30M | $188.40M | $239.20M | $92.40M | $140.10M | $89.10M | $-3.10M | $-4.80M | $54.30M | $103.50M | $17.20M | $88.50M | $55.90M | $99.40M | $55.70M | $88.80M |
| Capital Expenditure | $-124.60M | $-96.30M | $-73.40M | $-60.60M | $-87.10M | $-63.60M | $-50.50M | $-70.00M | $-68.50M | $-62.50M | $-32.20M | $-57.30M | $-89.00M | $-90.90M | $-159.00M | $-134.40M | $-177.00M | $-120.90M | $-265.60M | $-154.30M |
| Free Cash Flow | $-34.80M | $94.50M | $43.00M | $-500.00K | $-21.80M | $124.80M | $188.70M | $22.40M | $71.60M | $26.60M | $-35.30M | $-62.10M | $-34.70M | $12.60M | $-141.80M | $-45.90M | $-121.10M | $-21.50M | $-209.90M | $-65.50M |
ALLETE Dividends
Explore ALLETE's dividend history, including dividend yield, payout ratio, and historical payments.
Dividend Yield
4.35%
Dividend Payout Ratio
90.80%
Dividend Paid & Capex Coverage Ratio
0.88x
ALLETE Dividend History
| Dividend | Adjusted Dividend | Date | Record Date | Payment Date | Declaration Date |
|---|---|---|---|---|---|
| $0.73 | $0.73 | February 14, 2025 | February 14, 2025 | March 01, 2025 | January 30, 2025 |
| $0.705 | $0.705 | November 15, 2024 | November 15, 2024 | December 01, 2024 | October 25, 2024 |
| $0.705 | $0.705 | August 15, 2024 | August 15, 2024 | September 01, 2024 | July 25, 2024 |
| $0.705 | $0.705 | May 14, 2024 | May 15, 2024 | June 01, 2024 | April 25, 2024 |
| $0.705 | $0.705 | February 14, 2024 | February 15, 2024 | March 01, 2024 | January 26, 2024 |
| $0.6775 | $0.6775 | November 14, 2023 | November 15, 2023 | December 01, 2023 | October 27, 2023 |
| $0.6775 | $0.6775 | August 14, 2023 | August 15, 2023 | September 01, 2023 | July 31, 2023 |
| $0.6775 | $0.6775 | May 12, 2023 | May 15, 2023 | June 01, 2023 | April 27, 2023 |
| $0.678 | $0.6775 | February 14, 2023 | February 15, 2023 | March 01, 2023 | February 03, 2023 |
| $0.65 | $0.65 | November 14, 2022 | November 15, 2022 | December 01, 2022 | October 28, 2022 |
| $0.65 | $0.65 | August 12, 2022 | August 15, 2022 | September 01, 2022 | July 28, 2022 |
| $0.65 | $0.65 | May 13, 2022 | May 16, 2022 | June 01, 2022 | April 28, 2022 |
| $0.65 | $0.65 | February 14, 2022 | February 15, 2022 | March 01, 2022 | February 03, 2022 |
| $0.63 | $0.63 | November 12, 2021 | November 15, 2021 | December 01, 2021 | October 29, 2021 |
| $0.63 | $0.63 | August 13, 2021 | August 16, 2021 | September 01, 2021 | July 29, 2021 |
| $0.63 | $0.63 | May 13, 2021 | May 14, 2021 | June 01, 2021 | April 29, 2021 |
| $0.63 | $0.63 | February 12, 2021 | February 16, 2021 | March 01, 2021 | February 04, 2021 |
| $0.6175 | $0.6175 | November 13, 2020 | November 16, 2020 | December 01, 2020 | October 30, 2020 |
| $0.6175 | $0.6175 | August 13, 2020 | August 14, 2020 | September 01, 2020 | July 30, 2020 |
| $0.6175 | $0.6175 | May 14, 2020 | May 15, 2020 | June 01, 2020 | April 30, 2020 |
ALLETE News
Read the latest news about ALLETE, including recent articles, headlines, and updates.
ALLETE Names Jeff Scissons Chief Financial Officer
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE: ALE) announced today that ALLETE Vice President and Corporate Treasurer Jeff Scissons has been promoted to chief financial officer. He succeeds Steven W. Morris, who recently announced his plan to retire in July. Scissons joined the company in 2013 and was promoted to ALLETE vice president and corporate treasurer in 2024 after serving in key strategic roles throughout his tenure. Over a dozen years at ALLETE, he led various strategic initiativ.
New Energy Equity Partners with Harlem Consolidated School District on 5.54 MWdc Community Solar Project
ANNAPOLIS, Md. , March 6, 2025 /PRNewswire/ -- New Energy Equity, a national leader in developing and financing community and commercial solar projects, is pleased to announce a new partnership with the Harlem Consolidated School District to bring a 5.54 MWdc solar energy project to the district in Illinois.
ALLETE, Inc. Reports 2024 Earnings
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE: ALE) today reported 2024 earnings of $3.10 per share on net income of $179.3 million and operating revenue of $1.5 billion. Reported results from 2023 were $4.30 per share on net income of $247.1 million and operating revenue of $1.9 billion. Results for 2024 reflect approximately 39 cents per share of transaction expenses related to the merger agreement entered into May 5, 2024, with Canada Pension Plan Investment Board and Global Infrastruct.
Allete, Inc.: 11% Return Beats A Bank For Short-Term Idle Cash
Allete's pending acquisition by CPP Investments and GIP at $67 per share offers a potential 11% annual return, assuming a mid-2025 close. Shareholders can benefit from continued dividends and a fixed exit price, making this a higher return investment compared to bank deposits, with fairly low risk. The investment thesis maintains a Hold recommendation for current shareholders and a Buy for new investors seeking a reasonably secure 11% annual return.
23 Upcoming Dividend Increases, Including 2 Kings
Excited to announce dividend hikes for 23 companies, including dividend kings SJW Group and California Water Service Group, with 5% and 7.1% increases. Companies with consistent dividend growth indicate financial health, attracting investors and boosting stock prices, leading to long-term wealth accumulation. Investment strategy focuses on stocks with rising dividends and outperforming benchmarks, using data from U.S. Dividend Champions and NASDAQ.
ALLETE Board of Directors Raises Quarterly Common Stock Dividend
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE:ALE) today announced that its Board of Directors has increased the quarterly dividend on the company's common stock to $0.73 per share, a 3.5 percent increase. “This dividend increase reflects the ALLETE Board of Directors' confidence in our growth outlook for ALLETE,” said ALLETE Chair, President and CEO Bethany Owen. “We are pleased to deliver another dividend increase to our shareholders – adding to our track record of more than 75 consecuti.
ALLETE receives FERC approval for proposed transaction with Canada Pension Plan Investment Board and Global Infrastructure Partners
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE: ALE) announced that the Federal Energy Regulatory Commission (FERC) approved the company's proposed transaction with Canada Pension Plan Investment Board (CPP Investments) and Global Infrastructure Partners (GIP). “FERC's approval of ALLETE's proposed transaction with CPP Investments and GIP marks an important milestone and brings us one step closer to realizing the benefits of this transaction for our customers, our communities, our co-worker.
Puget Sound Energy signs on to largest share of North Plains Connector transmission project
Investment is a major step forward toward enhancing the reliability and resilience of the western energy grid Investment is a major step forward toward enhancing the reliability and resilience of the western energy grid
ALLETE, Inc. reports third quarter 2024 earnings
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE: ALE) today reported third quarter 2024 earnings of 78 cents per share on net income of $45.0 million. Last year's third quarter results were $1.49 per share on net income of $85.9 million. Net income for the same quarter in 2023 included approximately 71 cents per share for the favorable arbitration ruling involving a subsidiary of ALLETE Clean Energy. Net income for the third quarter this year included approximately 7 cents per share of trans.
ALLETE Board of Directors declares dividend on common stock
DULUTH, Minn.--(BUSINESS WIRE)--The ALLETE, Inc. (NYSE:ALE) board of directors has declared a quarterly dividend of 70.5 cents per share of common stock. On an annual basis, the dividend is equivalent to $2.82 per share, unchanged from the previous quarter. The regular quarterly dividend is payable December 1 to common stock shareholders of record at the close of business November 15, 2024. ALLETE, Inc. is an energy company headquartered in Duluth, Minnesota. In addition to its electric utiliti.
New Energy Equity completes development of 14 Public Storage projects in Minnesota
ROSEVILLE, M.N., Oct. 17, 2024 /PRNewswire/ -- New Energy Equity, national developer and financier of community and commercial solar projects, announces the successful completion of 14 Public Storage solar projects across Minnesota.
ALLETE to Announce Third Quarter Financial Results October 30
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Inc. (NYSE:ALE) will announce its financial results for the third quarter before the stock markets open on Wednesday, October 30, 2024. ALLETE, Inc. is an energy company headquartered in Duluth, Minnesota. In addition to its electric utilities, Minnesota Power and Superior Water, Light and Power of Wisconsin, ALLETE owns ALLETE Clean Energy, based in Duluth; BNI Energy in Bismarck, N.D.; and New Energy Equity, headquartered in Annapolis, Maryland; and has.
Minnesota Power plans two large solar projects in northern Minnesota as part of its EnergyForward strategy for carbon-free energy
DULUTH, Minn.--(BUSINESS WIRE)--Minnesota Power, a utility division of ALLETE Inc. (NYSE: ALE), announced today it plans to build two large solar projects in northern Minnesota as part of its continued transition toward a cleaner energy future while prioritizing regional renewable energy investments. The Regal Solar project near Royalton, Minnesota, and the Boswell Solar project in Cohasset, Minnesota, were chosen in an open process from competitive bids in Minnesota Power's 2023 solar request.
New Energy Equity achieves Gold Certification for advancements on DEIJ issues
ANNAPOLIS, Md. , Sept. 17, 2024 /PRNewswire/ -- New Energy Equity, a wholly owned subsidiary of ALLETE Inc (NYSE:ALE), announced it has achieved Gold Certification through the Diversity Equity Inclusion and Justice (DEIJ) Certification Program from the Solar Energy Industries Association (SEIA).
Wall Street's Most Accurate Analysts Spotlight On 3 Utilities Stocks Delivering High-Dividend Yields
During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout.
ALLETE, Inc. reports second quarter 2024 earnings
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE: ALE) today reported second quarter 2024 earnings of 57 cents per share on net income of $33.0 million. Last year's second quarter results were 90 cents per share on net income of $51.5 million. Net income for the second quarter this year includes 25 cents per share of transaction expenses related to the merger agreement entered into on May 5, 2024, with Canada Pension Plan Investment Board and Global Infrastructure Partners, and a 4 cent per s.
ALE INVESTIGATION: The M&A Class Action Firm Continues to Investigate the Merger and August 21, 2024 Shareholder Vote of ALLETE, Inc.
NEW YORK, July 27, 2024 (GLOBE NEWSWIRE) -- NEW YORK, July 27, 2024 / GobeNewswire/-- Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and is investigating ALLETE, Inc. (NYSE: ALE ) , relating to its proposed merger with a partnership led by Canada Pension Plan Investment Board and Global Infrastructure Partners. Under the terms of the agreement, ALLETE stockholders will receive $67.00 per share in cash for each share of common stock owned as of the closing of the transaction.
CORRECTING and REPLACING ALLETE Board of Directors Declares Dividend on Common Stock
DULUTH, Minn.--(BUSINESS WIRE)--First paragraph, first sentence of release dated July 25, 2024 should read: The ALLETE, Inc. (NYSE:ALE) board of directors has declared a quarterly dividend of 70.5 cents per share of common stock (instead of The ALLETE, Inc. (NYSE:ALE) board of directors has declared a quarterly dividend of 70.05 cents per share of common stock). The updated release reads: ALLETE BOARD OF DIRECTORS DECLARES DIVIDEND ON COMMON STOCK The ALLETE, Inc. (NYSE:ALE) board of directors.
URGENT UPDATE: The M&A Class Action Firm Investigates Merger and Looming Vote on August 21, 2024, of ALLETE, Inc. - ALE
NEW YORK , July 23, 2024 /PRNewswire/ -- Monteverde & Associates PC (the "M&A Class Action Firm"), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and is investigating ALLETE, Inc. (NYSE: ALE) , relating to its proposed merger with a partnership led by Canada Pension Plan Investment Board and Global Infrastructure Partners.
STOCKHOLDER ALERT: The M&A Class Action Firm Investigates Merger of ALLETE, Inc. - ALE
NEW YORK, June 26, 2024 (GLOBE NEWSWIRE) -- Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and is investigating ALLETE, Inc. (NYSE: ALE ) , relating to its proposed merger with a partnership led by Canada Pension Plan Investment Board and Global Infrastructure Partners. Under the terms of the agreement, ALLETE stockholders will receive $67.00 per share in cash for each share of common stock owned as of the closing of the transaction.
PGE joins Grid United and ALLETE in 3,000 megawatt east-west transmission line
The North Plains Connector transmission line will more than double the transfer capacity between the eastern and western U.S. electric grids, providing PGE access to new, diverse resources and bolstering reliability for customers. PORTLAND, Ore.
ALLETE INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of ALLETE, Inc. - ALE
NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of ALLETE, Inc. (NYSE: ALE) to Canada Pension Plan Investment Board (“CPP”) and Global Infrastructure Partners (“GIP”). Under the terms of the proposed transaction, shareholders of ALLETE will receive $67.00 in cash for each share of ALLETE that they own. KSF is seeking to determine whether this consideration and.
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