Summary
ALE Chart
Allete: Merger Close Doubts Arise, But Buy Rating Maintained
Allete's merger is progressing, with all major approvals secured except for the Minnesota Public Utilities Commission (MPUC). The Minnesota Commerce Department now supports the merger, citing benefits for affordable, clean, and reliable energy. Despite this, the Administrative Law Judge recommended denying the merger, citing unresolved concerns, even after reviewing the settlement agreement.
Allete quarterly profit drops on higher operating, interest expense
U.S. utility Allete posted a fall in second-quarter profit on Thursday, weighed down by lower industrial margins along with higher operating and interest expenses.
Allete Shares Enter Oversold Territory
In trading on Wednesday, shares of Allete entered into oversold territory, changing hands as low as $63.555 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100.
Allete Inc. Investors
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
| TT Timothy Tenneriello Oliver Lagore Vanvalin Investment Group | 200 | $13 | $13 | - | - |
 Alisha Arvold Christopher J. Hasenberg, Inc | 167 | $9,960 | $9,960 | - | - |
| VT Vincent Tortorella Point72 (DIFC) Ltd | 2,906 | $190,823.73 | $192,958 | $2,134.27 | 1.12% |
 Paul V. Ryan Jr FLAGSHIP WEALTH ADVISORS, LLC | 133 | $8,521 | $8,521 | - | - |
 Jefferson H. West Legacy Investment Solutions LLC | 14 | $907 | $907 | - | - |
Allete Inc. (ALE) FAQ
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Allete Inc. Profile
| Independent Power and Renewable Electricity Producers Industry | Utilities Sector | Bethany Owen CEO | NYSE Exchange | 018522300 CUSIP |
| US Country | 1,595 Employees | 15 Aug 2025 Last Dividend | 21 Sep 2004 Last Split | 3 May 1973 IPO Date |
Overview
ALLETE, Inc., established in 1906 and headquartered in Duluth, Minnesota, operates as a dynamic energy company with a diverse portfolio. The transformation from Minnesota Power, Inc. to ALLETE, Inc. in May 2001 marked a significant transition, highlighting its broadened focus beyond traditional energy services. The company's operations span across various segments such as Regulated Operations, ALLETE Clean Energy, and Corporate and Other segments, showcasing its integration into different facets of the energy sector. With a strong commitment to serving industries including taconite mining, paper, pulp, secondary wood products, pipeline, and beyond, ALLETE, Inc. has carved a niche in providing essential services to a broad spectrum of customers. The company’s emphasis on developing, acquiring, and operating renewable and clean energy projects demonstrates its forward-looking approach in addressing the energy sector's evolving demands.
Products and Services
- Regulated Utility Electric Services:
- ALLETE Clean Energy:
- Electric Transmission Assets:
- Coal Mining Operations:
- Real Estate Investment:
ALLETE, Inc. supplies essential regulated utility electric services across northeastern Minnesota and northwestern Wisconsin. Catering to around 150,000 retail customers and 14 non-affiliated municipal customers in northeastern Minnesota, along with approximately 15,000 electric customers, 13,000 natural gas customers, and 10,000 water customers in northwestern Wisconsin, the company ensures a reliable energy supply to a significant customer base.
Focusing on the future of energy, ALLETE Clean Energy is dedicated to the development, acquisition, and operation of clean and renewable energy projects. With an ownership and operational footprint in approximately 1,200 megawatts of wind energy generation, ALLETE is at the forefront of leveraging wind power to meet energy needs sustainably.
Ownership and maintenance of electric transmission assets in Wisconsin, Michigan, Minnesota, and Illinois place ALLETE, Inc. as a pivotal player in the energy transmission domain. By managing 162 substations with a total capacity of 9,980 megavolt amperes, the company facilitates efficient energy distribution across a broad geographical area.
In addition to its renewable energy ventures, ALLETE, Inc. engages in coal mining operations in North Dakota. This segment contributes to maintaining a diversified energy generation portfolio, catering to varying market demands and ensuring a steady supply of coal for energy production.
The company’s involvement in real estate investment activities in Florida represents a strategic diversification into sectors beyond its core energy-centric operations. This expansion signifies ALLETE, Inc.'s approach to exploring new opportunities and markets.
