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.
Company profile
Ticker
ALE
Exchange
Website
CEO
Bethany M. Owen
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
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
Analyst ratings and price targets
Latest filings (excl ownership)
ARS
2022 FY
Annual report to shareholders
22 Mar 23
DEFA14A
Additional proxy soliciting materials
22 Mar 23
DEF 14A
Definitive proxy
22 Mar 23
8-K
Regulation FD Disclosure
15 Feb 23
10-K
2022 FY
Annual report
15 Feb 23
UPLOAD
Letter from SEC
19 Dec 22
CORRESP
Correspondence with SEC
13 Dec 22
UPLOAD
Letter from SEC
29 Nov 22
CORRESP
Correspondence with SEC
18 Nov 22
10-Q
2022 Q3
Quarterly report
8 Nov 22
Transcripts
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
ALE
Earnings call transcript
2021 Q2
5 Aug 21
ALE
Earnings call transcript
2021 Q1
8 May 21
ALE
Earnings call transcript
2020 Q4
17 Feb 21
ALE
Earnings call transcript
2020 Q3
9 Nov 20
Latest ownership filings
4
Nicole Renee Johnson
10 Feb 23
4
Bethany M Owen
10 Feb 23
4
Joshua John Skelton
10 Feb 23
4
Patrick L Cutshall
10 Feb 23
4
Margaret A Thickens
10 Feb 23
4
Steven Wayne Morris
10 Feb 23
SC 13G/A
VANGUARD GROUP INC
9 Feb 23
4
Margaret A Thickens
6 Feb 23
4
Bethany M Owen
6 Feb 23
4
Steven Wayne Morris
6 Feb 23
Financial summary
| Quarter (USD) | Dec 22 | Sep 22 | Jun 22 | Mar 22 | |
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| Diluted EPS |
| Annual (USD) | Dec 22 | Dec 21 | Dec 20 | Dec 19 | |
|---|---|---|---|---|---|
| Revenue | |||||
| Cost of revenue | |||||
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| 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) | 40.20 mm | 40.20 mm | 40.20 mm | 40.20 mm | 40.20 mm | 40.20 mm |
| Cash burn (monthly) | 2.80 mm | 625.00 k | (no burn) | (no burn) | (no burn) | (no burn) |
| Cash used (since last report) | 8.45 mm | 1.89 mm | n/a | n/a | n/a | n/a |
| Cash remaining | 31.75 mm | 38.31 mm | n/a | n/a | n/a | n/a |
| Runway (months of cash) | 11.3 | 61.3 | n/a | n/a | n/a | n/a |
Institutional ownership, Q4 2022
75.9% owned by funds/institutions
| 13F holders | Current |
|---|---|
| Total holders | 303 |
| Opened positions | 56 |
| Closed positions | 33 |
| Increased positions | 96 |
| Reduced positions | 99 |
| 13F shares | Current |
|---|---|
| Total value | 2.76 tn |
| Total shares | 43.47 mm |
| Total puts | 1.20 k |
| Total calls | 66.40 k |
| Total put/call ratio | 0.0 |
| Largest owners | Shares | Value |
|---|---|---|
| BLK Blackrock | 7.25 mm | $468.02 bn |
| Vanguard | 6.21 mm | $400.51 bn |
| STT State Street | 2.40 mm | $154.65 bn |
| Victory Capital Management | 1.66 mm | $107.30 bn |
| ATLAS Infrastructure Partners | 1.51 mm | $97.48 bn |
| FMR | 1.44 mm | $92.73 bn |
| MCQEF Macquarie | 1.33 mm | $85.60 bn |
| First Trust Advisors | 1.30 mm | $83.87 bn |
| Geode Capital Management | 1.06 mm | $68.22 bn |
| GS Goldman Sachs | 930.04 k | $60.00 bn |
Recent insider trades
| Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|---|
| 9 Feb 23 | Steven Wayne Morris | Common Stock | Payment of exercise | Dispose F | No | No | 59.85 | 197.41 | 11.81 k | 9,766.69 |
| 9 Feb 23 | Patrick L Cutshall | Common Stock | Payment of exercise | Dispose F | No | No | 59.85 | 197.41 | 11.81 k | 6,334.58 |
| 9 Feb 23 | Margaret A Thickens | Common Stock | Payment of exercise | Dispose F | No | No | 59.85 | 230.31 | 13.78 k | 3,224.14 |
| 9 Feb 23 | Bethany M Owen | Common Stock | Payment of exercise | Dispose F | No | No | 59.85 | 789.64 | 47.26 k | 18,531.31 |
| 9 Feb 23 | Joshua John Skelton | Common Stock | Payment of exercise | Dispose F | No | No | 59.85 | 156.67 | 9.38 k | 4,863.24 |
News
ALLETE Q4 EPS $0.90 Misses $1.15 Estimate, Sales $425.80M Beat $404.81M Estimate
16 Feb 23
ALLETE Q4 EPS $0.90 Versus $1.18 Prior Year, Sales $425.80M Beat $404.81M Estimate
16 Feb 23
Earnings Scheduled For February 16, 2023
16 Feb 23
Preview: ALLETE's Earnings
15 Feb 23
ALLETE's Ex-Dividend Date Is Tuesday, Here's What You Need To Know
9 Feb 23
Press releases
ALLETE, Inc. Reports 2022 Earnings of $3.38 Per Share;
Initiates 2023 Earnings Guidance Range of $3.55 to $3.85 Per Share
16 Feb 23
ALLETE Board of Directors raises quarterly common stock dividend
3 Feb 23
ALLETE, Grid United join forces to develop key transmission link to enhance reliability of the nation's electric grid
30 Jan 23
Minnesota Public Utilities Commission Sets New Rates for Minnesota Power
24 Jan 23
ALLETE to announce 2022 financial results on Feb. 16
19 Jan 23