Last $46.34 USD
Change Today +0.14 / 0.30%
Volume 69.2K
ALE On Other Exchanges
Symbol
Exchange
New York
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As of 11:01 AM 09/19/14 All times are local (Market data is delayed by at least 15 minutes).

allete inc (ALE) Snapshot

Open
$46.28
Previous Close
$46.20
Day High
$46.61
Day Low
$46.23
52 Week High
03/31/14 - $52.73
52 Week Low
09/18/14 - $46.12
Market Cap
2.0B
Average Volume 10 Days
134.5K
EPS TTM
$2.76
Shares Outstanding
42.6M
EX-Date
08/13/14
P/E TM
16.8x
Dividend
$1.96
Dividend Yield
4.20%
Current Stock Chart for ALLETE INC (ALE)

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allete inc (ALE) Details

ALLETE, Inc., together with its subsidiaries, generates, transmits, and distributes electricity in the United States. It operates through Regulated Operations, and Investments and Other segments. The company generates electricity from coal, hydel, wind, and biomass. It is involved in the retail and wholesale of regulated electric, natural gas, and water services. The company provides regulated utility electric services to approximately 143,000 residential and commercial customers and 16 municipalities in Minnesota; and 15,000 electric customers, 12,000 natural gas customers, and 10,000 water customers in northwestern Wisconsin, as well as owns and operates 172 substations with a capacity of 11,110 megavolt amperes. In addition, it is engaged in the coal mining operations in North Dakota; and real estate investment activities in Florida. Further, the company offers seller financing; and holds approximately 5,000 acres of land in Minnesota for non-rate base generation. It industrial clients comprise taconite mining, iron concentrate, paper, pulp and wood products, and pipeline industries. The company was founded in 1906 and is headquartered in Duluth, Minnesota.

1,521 Employees
Last Reported Date: 02/14/14
Founded in 1906

allete inc (ALE) Top Compensated Officers

Chairman, Chief Executive Officer, President ...
Total Annual Compensation: $560.8K
Senior Vice President, General Counsel and Se...
Total Annual Compensation: $294.6K
Senior Vice President of External Affairs
Total Annual Compensation: $266.0K
Chief Risk Officer and Vice President of Ener...
Total Annual Compensation: $246.0K
Compensation as of Fiscal Year 2013.

allete inc (ALE) Key Developments

Minnesota Power and National Guard to Build 10MW Solar Array at Camp Ripley

Minnesota Power, a division of Allete, Inc., and the Minnesota National Guard have signed a memorandum of understanding, or MoU, to build a 10MW utility-scale solar energy array at Camp Ripley, a military base in Minnesota. The utility will also identify ways to help Camp Ripley reduce its energy usage by 30% and install backup generation for energy security. Minnesota Power has been the energy provider to Camp Ripley, located near Little Falls, for decades. The solar project envisioned by Minnesota Power and the Guard, subject to regulatory approval, would cover nearly 100 acres of underutilized government property at the Camp with photovoltaic panels on racks.

ALLETE, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Full Year of Fiscal 2014

ALLETE, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported operating income was $28.2 million against $24.4 million a year ago. Net income was $16.9 million against $14.0 million a year ago. Diluted earnings per share of common stock were $0.40 against $0.35 a year ago. Operating revenue was $260.7 million against $235.6 million a year ago. Income before non-controlling interest and income taxes was $21.8 million against $18.1 million a year ago. For the six months, the company reported operating revenue was $557.2 million against $499.4 million a year ago. Operating income was $76.5 million against $68.8 million a year ago. Income before non-controlling interest and income taxes was $64.4 million against $58.1 million a year ago. Net income attributable to the company was $50.3 million or $1.20 per diluted share against $46.5 million or $1.18 per diluted share a year ago. The company has generated $126 million of cash from operating activities. The company provided earnings guidance for the full year of fiscal 2014. The company anticipates the effective tax rate for 2014 will be approximately 21%. The company announced that this year the company will mark its large annual capital spend ever, an estimated $640 million. The company announced that it in on track to meet its 2014 earnings guidance range of $2.75 to $2.95 per share, excluding two items: transaction costs incurred during the first quarter for ALLETE Clean Energy's acquisition of three wind energy facilities; and a nonrecurring charge associated with a settlement agreement with the United States Environmental Protection Agency.

ALLETE, Inc. Declares Dividend on Common Stock, Payable September 1, 2014

ALLETE, Inc. announced that the board of directors has declared a quarterly dividend of 49 cents per share of common stock. On an annual basis the dividend is equivalent to $1.96 per share, unchanged from the previous quarter. The regular quarterly dividend is payable September 1, 2014 to common stock shareholders of record at the close of business August 15, 2014.

 

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Industry Analysis

ALE

Industry Average

Valuation ALE Industry Range
Price/Earnings 17.7x
Price/Sales 1.8x
Price/Book 1.4x
Price/Cash Flow 8.5x
TEV/Sales 0.5x
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