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Smart Investors Daily
AL

NYSE · ALE

ALLETE, Inc.

Utilities · Diversified Utilities

$67.90

Down-$0.04 (-0.06%)

Updated Aug 13, 2026, 7:45 PM

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Market cap
3.94B
P/E ratio
23.81
Dividend yield
3.23%
52-week range
— – —
Volume
3.61M
Avg. volume
822.06K

Price performance

ALE price history

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Latest ALE news

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ALE research

Overview

Company profile and research snapshot.

Company profile

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.

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Analyst outlook

Consensus and target data currently published for this company.

Consensus
Average target
$58.00
Implied upside
Analysts
ALE recent ratings
DateFirmRatingTarget
May 16, 2024MizuhoNeutral
Feb 21, 2024Wells FargoEqual-Weight
Jan 22, 2024GuggenheimNeutral
Jan 10, 2024Sidoti & Co.Neutral
Jul 21, 2023MizuhoNeutral
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businesswire.com · Dec 11, 2025

ALLETE Receives Written Order From MPUC Approving Acquisition by CPP Investments and Global Infrastructure Partners, Closing Expected Dec. 15

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE: ALE) (the Company) today announced that it has reviewed the written order from the Minnesota Public Utilities Commission (MPUC) approving the company's acquisition by Canada Pension Plan Investment Board (CPP Investments) and Global Infrastructure Partners (GIP), two leading global investors in infrastructure and sustainable energy. The acquisition, which is expected to close on or about Dec. 15, subject to the satisfaction or waiver of the re.

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