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, U.S. Water Services, and Corporate and Other. The Regulated Operations segment includes regulated utilities; Minnesota Power; SWL&P; and investment in ATC, which regulates utilities that owns and maintains 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 Corporate and Other segment consists of other business development and corporate expenditure of the firm. The company was founded in 1906 and is headquartered in Duluth, MN.
![Allete logo](/files/LOGO/66756-ALE.png)
Company profile
Ticker
ALE
Exchange
Website
CEO
Bethany M. Owen
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Duke Energy • Exelon • PG&E • Pacific Gas & Electric • Entergy New Orleans • Consolidated Edison • Xcel Energy • NiSource • Ameren • Ameren Illinois ...
Former names
ALLETE, MINNESOTA POWER & LIGHT CO, MINNESOTA POWER INC
SEC CIK
Corporate docs
Subsidiaries
ALLETE Automotive Services, LLC • ALLETE Enterprises, Inc. • ALLETE Clean Energy, Inc. • ACE O&M, LLC • ACE Solar LLC • ACE Wind LLC • ACE Mid-West Holdings, LLC • ACE Gopher Holdings, LLC • ACE Lincoln Heights Holdings, LLC • Cisco Holdings, LLC ...
IRS number
410418150
ALE stock data
Latest filings (excl ownership)
DEFA14A
Additional proxy soliciting materials
22 Jul 24
DEFM14A
Proxy related to merger
10 Jul 24
DEFA14A
Additional proxy soliciting materials
21 Jun 24
PRER14A
Preliminary revised proxy
21 Jun 24
PREM14A
Preliminary proxy related to merger
20 Jun 24
DEFA14A
Additional proxy soliciting materials
14 Jun 24
8-K
Submission of Matters to a Vote of Security Holders
20 May 24
DEFA14A
Additional proxy soliciting materials
17 May 24
DEFA14A
Additional proxy soliciting materials
9 May 24
10-Q
2024 Q1
Quarterly report
9 May 24
Transcripts
ALE
Earnings call transcript
2023 Q3
2 Nov 23
ALE
Earnings call transcript
2023 Q2
8 Aug 23
ALE
Earnings call transcript
2023 Q2
8 Aug 23
ALE
Earnings call transcript
2023 Q1
3 May 23
ALE
Earnings call transcript
2022 Q4
16 Feb 23
ALE
Earnings call transcript
2022 Q3
9 Nov 22
ALE
Earnings call transcript
2022 Q2
7 Aug 22
ALE
Earnings call transcript
2022 Q1
7 May 22
ALE
Earnings call transcript
2021 Q4
16 Feb 22
ALE
Earnings call transcript
2021 Q3
6 Nov 21
Latest ownership filings
11-K
Annual report of employee stock purchases
27 Jun 24
3
Julie L Padilla
6 Jun 24
4
James J Hoolihan
4 Jun 24
4
Charles R Matthews
4 Jun 24
4
MADELEINE W LUDLOW
4 Jun 24
4
SUSAN K NESTEGARD
4 Jun 24
4
George G Goldfarb
4 Jun 24
4
BARBARA A NICK
4 Jun 24
4
ROBERT P POWERS
4 Jun 24
4
Douglas C Neve
4 Jun 24
Financial summary
Quarter (USD) | Mar 24 | Dec 23 | Sep 23 | Jun 23 | |
---|---|---|---|---|---|
Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
Net income | |||||
Net profit margin | |||||
Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Annual (USD) | Dec 23 | Dec 22 | Dec 21 | Dec 20 | |
---|---|---|---|---|---|
Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
Net income | |||||
Net profit margin | |||||
Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 40.30 mm | 40.30 mm | 40.30 mm | 40.30 mm | 40.30 mm | 40.30 mm |
Cash burn (monthly) | 13.03 mm | (no burn) | (no burn) | (no burn) | (no burn) | (no burn) |
Cash used (since last report) | 50.39 mm | n/a | n/a | n/a | n/a | n/a |
Cash remaining | -10.09 mm | n/a | n/a | n/a | n/a | n/a |
Runway (months of cash) | -0.8 | n/a | n/a | n/a | n/a | n/a |
Institutional ownership, Q1 2024
75.1% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 296 |
Opened positions | 87 |
Closed positions | 36 |
Increased positions | 75 |
Reduced positions | 85 |
13F shares | Current |
---|---|
Total value | 2.46 tn |
Total shares | 43.34 mm |
Total puts | 0.00 |
Total calls | 6.20 k |
Total put/call ratio | – |
Largest owners | Shares | Value |
---|---|---|
BLK Blackrock | 7.53 mm | $449.06 bn |
Vanguard | 6.62 mm | $394.55 bn |
STT State Street | 2.43 mm | $144.99 bn |
Victory Capital Management | 1.34 mm | $80.07 bn |
Geode Capital Management | 1.31 mm | $77.87 bn |
First Trust Advisors | 1.18 mm | $70.12 bn |
FMR | 1.13 mm | $67.43 bn |
Dimensional Fund Advisors | 911.69 k | $54.37 bn |
BK Bank Of New York Mellon | 861.65 k | $51.39 bn |
American Century Companies | 777.60 k | $46.38 bn |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
3 Jun 24 | Thomas Charlene A | Common Stock | Grant | Acquire A | No | No | 0 | 1,742.71 | 0.00 | 6,619.89 |
3 Jun 24 | Barbara A Nick | Common Stock | Grant | Acquire A | No | No | 0 | 1,742.71 | 0.00 | 11,348.2 |
3 Jun 24 | Powers Robert P | Common Stock | Grant | Acquire A | No | No | 0 | 1,742.71 | 0.00 | 12,852.59 |
3 Jun 24 | Neve Douglas C | Common Stock | Grant | Acquire A | No | No | 0 | 1,742.71 | 0.00 | 18,495.98 |
3 Jun 24 | Nestegard Susan K | Common Stock | Grant | Acquire A | No | No | 0 | 1,742.71 | 0.00 | 12,388.47 |
News
Mizuho Maintains Neutral on ALLETE, Raises Price Target to $67
16 May 24
ALLETE Q1 EPS $0.88 Misses $1.02 Estimate, Sales $403.30M Miss $504.75M Estimate
9 May 24
Electric Services Company ALLETE Going Green And Private: Details
6 May 24
Financial Times Yesterday Reported 'GIP And CPP Near $5bn Deal For Utility Group Allete'
3 May 24
Press releases
ALLETE Board of Directors Declares Dividend on Common Stock
25 Jul 24
SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates MORF, HUDA, ALE, DOMA on Behalf of Shareholders
23 Jul 24
URGENT UPDATE: The M&A Class Action Firm Investigates Merger and Looming Vote on August 21, 2024, of ALLETE, Inc. - ALE
23 Jul 24
SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates DRQ, BFAC, FXNC, ALE on Behalf of Shareholders
22 Jul 24
SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates HTLF, ALE, DM, MORF on Behalf of Shareholders
17 Jul 24