New Energy Equity's Lift as We Climb Foundation Donates $100,000 to Civic Works to Expand Solar Access in Baltimore
ANNAPOLIS, Md. , March 25, 2025 /PRNewswire/ -- New Energy Equity's Lift as We Climb Foundation has donated $100,000 to Civic Works, a Baltimore-based nonprofit, to support its mission of expanding solar access for local households.
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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.
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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.
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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.
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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.
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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.
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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.
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ALLETE Senior Vice President & Chief Financial Officer Steven W. Morris to Retire Mid-Year as Part of a Planned Transition
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE announced today that Chief Financial Officer Steven W. Morris will retire later this year.
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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.
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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
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ALLETE Clean Energy has fully recontracted Armenia Mountain Wind
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Clean Energy has fully contracted the output of its Armenia Mountain Wind site for another seven years through agreements with two customers.
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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.
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ALLETE Clean Energy Announces Sale of Wisconsin Wind Site
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Clean Energy today announced the company has sold the Whitetail wind project in southwestern Wisconsin to Invenergy.
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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.
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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.
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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.
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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.
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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).
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ALLETE applauds $700 million federal grant for Montana and North Plains Connector transmission project
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE applauds $700 million federal grant for Montana and North Plains Connector transmission project.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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New Strong Sell Stocks for May 14th
AAGIY, ALE and ALNT have been added to the Zacks Rank #5 (Strong Sell) List on May 14, 2024.
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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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New Strong Sell Stocks for May 7th
ALE, ASGN and BRSP have been added to the Zacks Rank #5 (Strong Sell) List on May 7, 2024.
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Shareholder Alert: Ademi LLP investigates whether ALLETE, Inc. has obtained a Fair Price in its Going Private Transaction with CPP Investments and Global Infrastructure Partners
MILWAUKEE , May 7, 2024 /PRNewswire/ -- Ademi LLP is investigating ALLETE (NYSE: ALE) for possible breaches of fiduciary duty and other violations of law in its going private transaction with CPP Investments and Global Infrastructure Partners. Click here to learn how to join the https://www.ademilaw.com/case/allete-inc or call Guri Ademi toll-free at 866-264-3995.
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ALERT: Rowley Law PLLC is Investigating Proposed Acquisition of ALLETE, Inc.
NEW YORK , May 6, 2024 /PRNewswire/ -- Rowley Law PLLC is investigating potential securities law violations by ALLETE, Inc. (NYSE: ALE) and its board of directors concerning the proposed acquisition of the company by Canada Pension Plan Investment Board and Global Infrastructure Partners. Stockholders will receive $67.00 for each share of ALLETE stock that they hold.
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STOCKHOLDER INVESTIGATION: The M&A Class Action Firm Announces An Investigation of ALLETE, Inc. - ALE
NEW YORK , May 6, 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.
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SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates ALE, PRFT
NEW YORK , May 6, 2024 /PRNewswire/ -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to: ALLETE, Inc. (NYSE: ALE)'s sale to Canada Pension Plan Investment Board ("CPP") and Global Infrastructure Partners ("GIP") for $67.00 per share in cash. If you are an ALLETE shareholder, click here to learn more about your rights and opt ions.
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ALE Stock Alert: Halper Sadeh LLC Is Investigating Whether the Sale of ALLETE, Inc. Is Fair to Shareholders
NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLC, an investor rights law firm, is investigating whether the sale of ALLETE, Inc. (NYSE: ALE) to Canada Pension Plan Investment Board (“CPP”) and Global Infrastructure Partners (“GIP”) for $67.00 per share in cash is fair to ALLETE shareholders. Halper Sadeh encourages ALLETE shareholders to click here to learn more about their legal rights and options or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or sadeh@halpersadeh.com or zhalper@halper.
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US utility Allete goes private in $6.2 bln deal
Allete said on Monday a partnership led by Canada Pension Plan Investment Board and Global Infrastructure Partners would acquire the U.S. utility for $6.2 billion, including debt.
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Clean-energy producer Allete agrees to go private for $6.2 billion
Power producer Allete Inc. ALE, +5.64% said Monday it agreed to go private for $67 a share in a deal valued at about $6.2 billion including debt with buyers Canada Pension Plan Investment Board and Global Infrastructure Partners. Duluth, Minn.
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ALLETE Enters Agreement to be Acquired by a Partnership Led by Canada Pension Plan Investment Board and Global Infrastructure Partners to Advance ‘Sustainability-in-Action' Strategy
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE: ALE) and a partnership led by Canada Pension Plan Investment Board (“CPP Investments”) and Global Infrastructure Partners (“GIP”), (the “partnership”), today jointly announced that they have entered into a definitive agreement under which the partnership will acquire ALLETE for $67.00 per share in cash, or $6.2 billion including the assumption of debt. ALLETE is a leading energy company and provider of safe, reliable, and competitively priced.
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Minnesota Power Reaches Electric Rate Settlement With State Agencies and Large Power Customers
DULUTH, Minn.--(BUSINESS WIRE)--Minnesota Power, a utility division of ALLETE Inc. (NYSE: ALE), has reached a settlement agreement on its 2024 electric rate proposal with the Minnesota Department of Commerce, Minnesota Attorney General's Office and Large Power Intervenors. If approved by the Minnesota Public Utilities Commission (MPUC), the agreement would set final rate increases of about 4.9% for residential and small business customers and about 4.4% for industrial and large commercial custo.
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NT Solar Celebrates New Impact Investment Fund & Series of Successful Transactions
WASHINGTON , April 25, 2024 /PRNewswire/ -- NT Solar, a national tax credit syndicator with a mission to provide affordable clean energy access through investments in renewables and battery projects with strong ESG attributes, is thrilled to announce a series of four strategic solar tax credit (ITC) investments across the country, establishing new partnerships, building upon successful ongoing relationships, and continuing the growth of our network of investment partners. These investments supported the development of 4 solar projects, including the largest solar installation to date in Rhode Island, as well as various community solar projects in New Jersey, New York, and California.
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New Strong Sell Stocks for April 17th
ASO, ALE and AMR have been added to the Zacks Rank #5 (Strong Sell) List on April 17, 2023.
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ALLETE Recognized for Gender Diversity on Board and Among Executive Officers
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE:ALE) has been named an Honor Roll company of Special Distinction in an annual report on gender diversity in the executive ranks and on the boards of directors of the largest publicly traded companies in Minnesota. St. Catherine University conducts the research each year and the resulting report, called “The Minnesota Census of Women in Corporate Leadership,” is published by Twin Cities Business. For 2023, ALLETE was among nine companies to qual.
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ALLETE to Announce First Quarter Financial Results May 9
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Inc. (NYSE:ALE) will announce its financial results for the first quarter before the stock markets open on Thursday, May 9, 2024. Following the release, ALLETE Chair, President and Chief Executive Officer Bethany M. Owen, and Senior Vice President and Chief Financial Officer Steven 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 may.
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New Energy Equity announces Tim Ahrens as Senior Vice President of Development
ANNAPOLIS, Md. , Feb. 27, 2024 /PRNewswire/ -- New Energy Equity, national developer and financier of community and commercial solar projects, has named Tim Ahrens as its Senior Vice President of Development.
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ALLETE, Inc. (ALE) Q4 2023 Earnings Call Transcript
ALLETE, Inc. (ALE) Q4 2023 Earnings Call Transcript
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Allete (ALE) Misses Q4 Earnings and Revenue Estimates
Allete (ALE) came out with quarterly earnings of $0.89 per share, missing the Zacks Consensus Estimate of $0.93 per share. This compares to earnings of $0.90 per share a year ago.
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ALLETE, Inc. reports 2023 earnings of $4.30 per share; clean energy transition drives $4.3 billion capital investment plan over the next five years
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE: ALE) today reported 2023 earnings of $4.30 per share on net income of $247.1 million and operating revenue of $1.9 billion. Reported results from 2022 were $3.38 per share on net income of $189.3 million and operating revenue of $1.6 billion. “We are very pleased with our solid financial results in 2023 and our team's execution of strategic initiatives that will drive strong earnings growth and investment in clean energy for years to come,” sa.
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Minnesota Power advances EnergyForward with request for proposals for up to 400 megawatts of wind energy
DULUTH, Minn.--(BUSINESS WIRE)--Minnesota Power, a utility division of ALLETE Inc. (NYSE: ALE), has issued a Request for Proposals (RFP) for up to 400 megawatts of wind energy to come online by the end of 2027, an important milestone in advancing its EnergyForward vision for 100% carbon-free energy. 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 solar energy that.
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Unlocking Green Power: Allete Is A Gem In The Utility Sector
ALLETE is a utility company with a strong focus on sustainability and clean energy, making it an attractive investment in the utility sector. The company has shown robust growth in revenues and EPS over the past decade, driven by organic growth and strategic acquisitions. ALLETE's current valuation, with a P/E ratio of 14, is attractive considering its growth potential, thus making it a buy.
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Allete: I Continue To Be Bullish On This Quality Business
ALLETE Inc's stock has underperformed the broader market, but it still presents a good long-term investment opportunity. The company is focusing on clean and renewable energy projects, particularly in wind energy generation. ALLETE has identified investment opportunities, such as expanding into North Dakota, which could lead to increased revenues and shareholder returns.
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ALLETE to announce 2023 financial results on February 20
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Inc. (NYSE:ALE) will announce its financial results for 2023 before the stock markets open on Tuesday, February 20, 2024. Following the release, ALLETE Chair, President and Chief Executive Officer Bethany M. Owen, and Senior Vice President and Chief Financial Officer Steven W. Morris will present an overview of results and other factors related to performance, and discuss 2024 earnings guidance during a conference call beginning at 10 a.m. Eastern time. In.
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New Energy Equity names Jackie Chambers as chief investment officer
ANNAPOLIS, Md. , Feb. 7, 2024 /PRNewswire/ -- New Energy Equity, national developer and financier of community and commercial solar projects, has welcomed Jackie Chambers to its leadership team as chief investment officer.
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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 $0.705 per share, a 4.1% 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 74 consecu.
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New Energy Equity raises $200,000 for Folds of Honor
ANNAPOLIS, Md. , Jan. 16, 2024 /PRNewswire/ -- New Energy Equity LLC, a national developer of community and commercial solar projects, has donated $200,000 to Folds of Honor through its Lift as We Climb Foundation.
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5 Low-Leverage Stocks to Buy on Rate Cut Expectations
The crux of safe investment lies in choosing a company that is not burdened with debt. This is because a debt-free stock is almost impossible to find.
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ALLETE, Grid United sign development agreements for advancing new HVDC transmission line in North Dakota and Montana
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE and Grid United this week signed development agreements for the North Plains Connector project.
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Reasons to Add ALLETE (ALE) to Your Portfolio Right Now
ALLETE Inc.'s (ALE) rising earnings estimates, regular dividend payments and a solid investment plan, makes it a strong choice for investment in the utility space.
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Should Value Investors Buy Allete (ALE) Stock?
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.
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Allete (ALE) Moves to Buy: Rationale Behind the Upgrade
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.
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ALE vs. PNW: Which Stock Is the Better Value Option?
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?
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Exclusive: US power utility Allete explores sale, sources say
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.
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2 Better High-Yield Stocks to Buy Than NextEra Energy
Rising cost of capital could upend NextEra's growth story -- and its dividend.
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Minnesota Power Advances EnergyForward with Request for Proposals for up to 300 Megawatts of Solar Energy
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.
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ALLETE, Inc. (ALE) Q3 2023 Earnings Call Transcript
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.
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5 Low-Leverage Stocks to Buy as Inflation Fear Eases
The crux of safe investment lies in choosing a company that is not burdened with debt as debt-free stock is almost impossible to find. You may buy TXT, PTEN, ALE, TNK and ACHC.
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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
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,.
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ALE or PNW: Which Is the Better Value Stock Right Now?
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?
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5 Low-Beta Utility Stocks to Buy Amid Ongoing Market Volatility
Investing in defensive sectors such as ALLETE (ALE), PNM Resources (PNM), Consolidated Water Co (CWCO), California Water Service Group (CWT) and Vistra Corp. (VST) should be safe.
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5 Low-Leverage Stocks to Buy as Market Woes Compound
The crux of safe investment lies in choosing a company that is not burdened with debt. This is because a debt-free stock is almost impossible to find.
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Here's Why You Should Add ALLETE (ALE) to Your Portfolio Now
ALLETE (ALE) makes a strong case for investment, given its earnings growth prospects, strong ROE and ability to increase shareholders' value.
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ALLETE to announce third quarter financial results November 2
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.
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Consumer Confidence Plummets on Recession Fears: 5 Stocks to Buy
Consumer confidence is declining on recession fears. Defensive stocks like ALLETE (ALE), Consolidated Water (CWCO), American Water Works Company (AWK), Kimberly-Clark (KMB) and Colgate-Palmolive (CL) are safe bets.
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ALE vs. NEE: Which Stock Is the Better Value Option?
Investors interested in stocks from the Utility - Electric Power sector have probably already heard of Allete (ALE) and NextEra Energy (NEE). But which of these two stocks is more attractive to value investors?
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5 Low-Leverage Stocks to Buy as U.S. Consumer Price Rises
The crux of safe investment lies in choosing a company that is not burdened with debt, as a debt-free stock is almost impossible to find. You may buy ACA, PHM, KEX, TEX & ALE.
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ALE or IBDRY: Which Is the Better Value Stock Right Now?
Investors with an interest in Utility - Electric Power stocks have likely encountered both Allete (ALE) and Iberdrola S.A. (IBDRY). But which of these two stocks is more attractive to value investors?
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Allete: A Potential Buy In Renewable Energy
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.
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Allete (ALE) Q2 Earnings and Revenues Top Estimates
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.
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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, 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.
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What You Need to Know Ahead of PPL Q2 Earnings
PPL's Q2 2023 results are expected to benefit from ongoing capital investments and operation and maintenance cost savings. However, higher interest expenses might have impacted negatively.
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AES to Announce Q2 Earnings: Here's What You Need to Know
AES' Q2 results are likely to reflect the impact of adverse weather events as well as higher interest expense.
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ALLETE Clean Energy adds new customer segment through power purchase agreement with Seattle City Light
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.
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ALLETE to announce second quarter financial results August 8
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.
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ALLETE's (ALE) Arm Minnesota Power Plans HVDC Upgrades
ALLETE's (ALE) subsidiary, Minnesota Power, advances the high-voltage direct-current transmission system project to strengthen grid reliability and resiliency in Upper Midwest.
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Minnesota Power advances HVDC transmission system project to strengthen grid reliability, resiliency in Upper Midwest
DULUTH, Minn.--(BUSINESS WIRE)--To help ensure a reliable and resilient grid that can expand in the future, Minnesota Power this week outlined planned upgrades to its high-voltage, direct-current (HVDC) transmission system that delivers renewable wind energy from its Bison Wind Energy Center in North Dakota to customers in Minnesota. Minnesota Power, an operating division of ALLETE (NYSE:ALE), is filing a Certificate of Need and Route Permit on June 1 with the Minnesota Public Utilities Commiss.
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ALLETE advances most transformative growth strategy in company history
DULUTH, Minn.--(BUSINESS WIRE)--With momentum on its side, ALLETE Inc.'s (NYSE:ALE) sustainability-in-action strategy is securing the company's place as a national leader in the transition to a clean-energy future, ALLETE Chair, President and CEO Bethany Owen told investors at Tuesday's virtual 2023 Annual Meeting of Shareholders. “ALLETE is once again the No. 1 investor in renewable energy, relative to market capitalization, among all U.S.-based publicly traded utilities,” Owen said. “For the.
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Allete (ALE) Q1 Earnings Lag Estimates
Allete (ALE) came out with quarterly earnings of $1.02 per share, missing the Zacks Consensus Estimate of $1.19 per share. This compares to earnings of $1.24 per share a year ago.
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ALLETE, Inc. reports first quarter earnings of $1.02 per share
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE: ALE) today reported first quarter 2023 earnings of $1.02 per share on net income of $58.2 million. Last year's first quarter results were $1.24 per share on net income of $66.3 million. “The entire ALLETE team's execution of our Sustainability in Action strategy was excellent throughout the quarter, and we are excited about the year ahead,” said ALLETE Chair, President and Chief Executive Officer Bethany Owen. “New Energy is starting the first.
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ALLETE among Minnesota companies honored for gender parity in boardroom, among executive officers
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Inc. (NYSE:ALE) has again been included among a group of Minnesota companies recognized for gender diversity in their top leadership ranks. ALLETE has been named as an Honor Roll company with Special Distinction in the 2022 Minnesota Census of Women in Corporate Leadership, produced by St. Catherine University's School of Business.
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ALLETE to announce first quarter financial results May 3
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Inc. (NYSE:ALE) will announce its financial results for the first quarter before the stock markets open on Wednesday, May 3, 2023. Following the release, ALLETE Chair, President and Chief Executive Officer Bethany M. Owen, and Senior Vice President and Chief Financial Officer Steven 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.
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