La chaîne d'options affiche les données clés des options sur actions de ALLETE à différents prix d'exercice et dates d'expiration. Les traders utilisent ces informations pour analyser les transactions potentielles et évaluer le sentiment du marché pour ALLETE..

ALLETE (NYSE:ALE) Stock, Chaîne d'Options

ALLETE

ALLETE Inc provides competitively-priced energy in America's Upper Midwest region and invests in transmission infrastructure and other energy-centric businesses. The company has two reportable segments. The first segment is Regulated Operations, which includes the company's regulated utilities, Minnesota Power and SWL&P, as well as its investment in ATC. ATC is a regulated utility based in Wisconsin that owns and maintains electric transmission assets in parts of Wisconsin, Michigan, Minnesota, and Illinois. The second segment is ALLETE Clean Energy, which focuses on developing, acquiring, and operating clean and renewable energy projects.

ALLETE Inc

ALEAFIA HEALTH INC by Aleafia Health Inc.

Aleafia Health Inc

Alector Inc

ALLIED GROUP LTD UNSP/ADR by Allied Group Ltd.

Allied Group Ltd

Alerio Gold Corp

Allegro.EU SA

Aleo - United States Dollar

Aleph.im v2 - United States Dollar

ALLEGRO EU SA U/ADR by ALLEGRO EU SA

Alexander & Baldwin, Inc. Common Stock REIT Holding Company

Alexander & Baldwin Inc

Companies with a long history of paying dividends and consistently hiking them remain appealing to income-focused investors. Agree Realty, LCI Industries, and Allete have rewarded shareholders for years and recently announced dividend increases. These companies currently offer dividend yields of up to nearly 6%.
Agree Realty
Agree Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADC#NYSE">ADC</a>) is a real estate investment trust that acquires and develops properties net leased to industry-leading, omnichannel retail tenants.
Don't Miss:
<ul>
<li>Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target – <a href="https://www.benzinga.com/money/mode-mobile-2">Many are rushing to grab 4,000 of its pre-IPO shares for just $0.26/share!</a></li>
<li>Can you guess how many retire with a $5,000,000 nest egg? <a href="https://www.benzinga.com/money/5mil-nest-egg-adv">The percentage may shock you</a>.</li>
</ul>
Agree Realty has increased its dividends consecutively for the last 12 years. In its most recent dividend announcement on April 10, it raised the monthly payout from $0.253 to $0.256 per share, equal to an annual figure of $3.072 per share. The dividend yield on the stock currently stands at 3.88%.
Agree Realty&#8217;s annual revenue as of Dec. 31 stood at $617.10 million. According to its Q1 2025 earnings release on April 22, the company posted revenues of $169.16 million and AFFO of $1.06. Both figures came in above the consensus estimates.&nbsp;
If you invested $10,000 in Agree Realty stock 10 years ago, how much would you have now? Check out this <a href="https://www.benzinga.com/real-estate/25/04/44604608/if-you-invested-10k-in-agree-realty-stock-10-years-ago-how-much-would-you-have-now">article by Benzinga</a> to learn more.&nbsp;
Trending: The secret weapon in billionaire investor portfolios that you almost certainly don't own yet. <a href="https://www.benzinga.com/money/masterworks">See which asset class has outpaced the S&amp;P 500 (1995-2024) – and with near-zero correlation.</a>
LCI Industries
LCI Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LCII#NYSE">LCII</a>) manufactures and supplies engineered components for the manufacturers of recreational vehicles and adjacent industries in the U.S. and internationally.
LCI Industries has increased dividends every year for the last nine years. According to its most recent dividend hike announcement on Nov. 14, 2024, the company's board raised the quarterly payout from $1.05 to $1.15 per share, equal to an annual figure of $4.60 per share. More recently, in its dividend announcement on Feb. 19, the company maintained the payout at the same level. The current dividend yield on the stock is 5.83%.
The company&#8217;s annual revenue as of Dec. 31 stood at $3.74 billion. In its Q4 2024 earnings release on Feb. 11, it posted revenues of $803.14 million and EPS of $0.37, both above the consensus estimates.
See Also: Hasbro, MGM, and Skechers trust this AI marketing firm — <a href="https://www.benzinga.com/money/rad-intel">invest pre-IPO from $0.60 per share now</a>.
Allete
Allete (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALE#NYSE">ALE</a>) operates as an energy company in two segments, Regulated Operations and Allete Clean Energy. It generates electricity from coal-fired, biomass co-fired/natural gas, hydro, wind, and solar.
The company has raised its dividends every year for the last 14 years. As per its most recent dividend hike announcement on Jan. 30, its board increased the quarterly payout by 3.5% to $0.73, equaling an annual figure of $2.92 per share. The current dividend yield is 4.48%.
ALLETE&#8217;s annual revenue as of Dec. 31 stood at $1.53 billion. In its most recent earnings report on Feb. 13, the company posted Q4 2024 revenues of $364.80 million and EPS of $0.87. Both figures missed consensus estimates.
Agree Realty, LCI Industries, and Allete are good choices for investors seeking reliable passive income. Their dividend yields of up to nearly 6% and long history of consistent hikes make them attractive to income-focused investors.
Check out this <a href="https://www.benzinga.com/personal-finance/25/04/44940859/why-johnson-johnson-chevron-and-flowers-foods-are-winners-for-passive-income">article by Benzinga</a> for three more stocks offering high dividend yields.&nbsp;
Read Next:
<ul>
<li><a href="https://www.benzinga.com/money/gbr-savings-by-age">If You're Age 35, 50, or 60: Here&#8217;s How Much You Should Have Saved Vs. Invested By Now</a></li>
<li>Inspired by Uber and Airbnb &#8211; Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets &#8211; <a href="https://www.benzinga.com/money/mode-mobile-2">with $1,000 you can invest at just $0.26/share!</a></li>
</ul>
Image: Shutterstock

Personal Finance

LCII

Why  Agree Realty, LCI Industries, And Allete Are Winners For Passive Income

Companies with a long history of paying dividends and consistently hiking them remain appealing to income-focused investors. Hormel Foods, ALLETE, and Alliant Energy have rewarded shareholders for years and recently announced dividend increases. These companies currently offer dividend yields of around 3-4%.
Hormel Foods
Hormel Foods Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRL#NYSE">HRL</a>) develops, processes, and distributes various meat, nuts, and other food products to foodservice, convenience store, and commercial customers in the U.S. and internationally.
Don't Miss:
<ul>
<li>Many are using retirement income calculators to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on what&#8217;s behind this formula.</a></li>
<li>Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die."<a href="https://www.benzinga.com/money/warren-buffet-make-money-when-you-sleep"> Here&#8217;s how you can earn passive income with just $100.</a></li>
</ul>
Hormel Foods has raised its dividends every year for the last 59 years. In its most recent dividend hike announcement on Nov. 25, the company's board increased the quarterly payout by 3% to $0.29 per share, equal to an annual figure of $1.16 per share. Currently, the dividend yield stands at 4.03%.
Hormel Foods&#8217; annual revenue as of Jan. 31 stood at $11.91 billion. In its Q1 2025 earnings release on Feb. 27, the company posted revenues of $2.99 billion, beating the consensus estimate of $2.93 billion, while EPS of $0.35 came in below the consensus of $0.38.&nbsp;
Trending: It&#8217;s no wonder Jeff Bezos holds over $250 million in art — <a href="https://www.benzinga.com/money/masterworks">this alternative asset has outpaced the S&amp;P 500 since 1995, delivering an average annual return of 11.4%. Here&#8217;s how everyday investors are getting started.</a>
ALLETE
ALLETE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALE#NYSE">ALE</a>) operates as an energy company in two segments, Regulated Operations and ALLETE Clean Energy. It generates electricity from coal-fired, biomass co-fired/natural gas, hydro, wind, and solar.
The company has increased its dividends consecutively for the last 14 years. According to its most recent dividend hike announcement on Jan. 30, its board raised the quarterly payout by 3.5% to $0.73, equaling an annual figure of $2.92 per share. Currently, the dividend yield on the stock is 4.46%.
ALLETE's annual revenue as of Dec. 31 stood at $1.53 billion. In its most recent earnings release on Feb. 13, the company posted Q4 2024 revenues of $364.80 million and EPS of $0.87. Both figures came in below expectations.
See Also: Have $200K saved?<a href="https://www.benzinga.com/money/have-200k-saved-heres-how-to-turn-it-into-lasting-wealth"> Here's how to turn it into lasting wealth</a>
Alliant Energy
Alliant Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LNT#NASDAQ">LNT</a>) operates as a utility holding company that provides regulated electric and natural gas services in the U.S.
The company has raised its dividends every year for the last 21 years. In its most recent dividend announcement on Jan. 17, the company increased the quarterly payout from $0.48 to $0.5075 per share, equal to an annual figure of $2.03 per share. The current dividend yield is 3.27%.
Alliant Energy&#8217;s annual revenue as of Dec. 31 stood at $3.98 billion. As per the company&#8217;s Q4 2024 earnings release on Feb. 20, it posted revenues of $976 million and EPS of $0.70, both coming in above the consensus estimates.
How is the market feeling about Alliant Energy? Check out this <a href="https://www.benzinga.com/insights/short-sellers/25/01/43335293/how-is-the-market-feeling-about-alliant-energy">article by Benzinga</a> to learn more.
Hormel Foods, ALLETE, and Alliant Energy are good choices for investors seeking reliable passive income. Their dividend yields of around 3-4% and long history of consistent hikes make them attractive to income-focused investors.
Check out this <a href="https://www.benzinga.com/personal-finance/25/03/44450148/why-pepsico-restaurant-brands-and-fifth-third-bancorp-are-winners-for-passive-income">article by Benzinga</a> for three more stocks offering high dividend yields.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/money/gbr-savings-by-age">If You're Age 35, 50, or 60: Here&#8217;s How Much You Should Have Saved Vs. Invested By Now</a></li>
<li>The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?</li>
</ul>

How Hormel Foods, ALLETE, And Alliant Energy Can Put Cash In Your Pocket

News

General

Public Service Commission Of Wisconsin Approves  Allete's Proposed Transaction With Canada Pension Plan Investment Board And Global Infrastructure Partners

He succeeds Steven W. Morris, who recently announced his plan to retire in July.

Management

ALLETE Promotes Jeff Scissons To CFO

ALLETE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALE#NYSE">ALE</a>) reported quarterly earnings of $0.87 per share. This is a 2.25 percent decrease over earnings of $0.89 per share from the same period last year. The company reported $364.80 million in sales this quarter. This is a 9.41 percent decrease over sales of $402.70 million the same period last year.

Earnings

Earnings Misses

ALLETE Q4 2024 GAAP EPS $0.87 Down From $0.88 YoY, Sales $364.80M Down From $402.70M YoY

On an annual basis the increased dividend is equivalent to $2.92 per share. The regular quarterly dividend is payable Mar. 1 to common shareholders of record at the close of business Feb. 14, 2025.
 &nbsp;

Dividends

ALLETE Boosts Quarterly Dividend On Common Stock By 3.5% From $0.70 To $0.73 Per Share

In the interim and as part of an orderly succession plan, Morris will remain with the company until July.
As previously announced, under the terms of the merger agreement CPP Investments and GIP will acquire all outstanding common shares of ALLETE for $67 per share in cash, or $6.2 billion, without interest, including the assumption of debt.&nbsp;

ALLETE CFO Steven Morris Plans To Retire Later This Year;

ALLETE Says FERC Approved Proposed Transaction With CPP Investments And Global Infrastructure Partners

ALLETE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALE#NYSE">ALE</a>) reported quarterly earnings of $0.78 per share which missed the analyst consensus estimate of $0.93 by 16.13 percent. This is a 47.65 percent decrease over earnings of $1.49 per share from the same period last year. The company reported quarterly sales of $407.20 million which beat the analyst consensus estimate of $391.00 million by 4.14 percent. This is a 7.50 percent increase over sales of $378.80 million the same period last year.

Earnings Beats

ALLETE Q3 EPS $0.78 Misses $0.93 Estimate, Sales $407.20M Beat $391.00M Estimate

ALLETE Clean Energy, a wholly owned subsidiary of ALLETE, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALE#NYSE">ALE</a>), today announced the company has sold the Whitetail wind project in southwestern Wisconsin to Invenergy, with the intent that it be constructed and subsequently sold to WEC Energy Group utilities We Energies and Wisconsin Public Service Corp. (WPS) as well as Madison Gas and Electric Co. (MGE).
ALLETE Clean Energy acquired the Whitetail wind project in 2021 and developed it for sale to help companies advance their carbon-reduction goals. The approximately 70-megawatt Whitetail project will consist of up to 21 turbines on about 5,938 acres in Clifton and Wingville townships in Grant County. It will produce enough energy to power tens of thousands of homes.

Asset Sales

ALLETE Clean Energy Has Sold The Whitetail Wind Project In Southwestern Wisconsin To Invenergy, With The Intent That It Be Constructed And Subsequently Sold To WEC Energy Group Utilities We Energies And Wisconsin Public Service Corp. As Well As Madison Gas And Electric Co.; No Financial Terms Disclosed

Minnesota Power Announces Plans For Two Large Solar Projects In Northern Minnesota, Aiming For Over 200 MW Capacity As Part Of Its EnergyForward Strategy For Carbon-Free Energy

ALLETE  Shareholders Vote To Approve Proposed Transaction With CPP Investments And GIP; Company Continues To Expect Transaction To Close In Mid-2025

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a <a href="https://www.benzinga.com/yield-investments">high dividend payout</a>.
Benzinga readers can review the latest analyst takes on their favorite stocks by visiting our <a href="https://www.benzinga.com/analyst-stock-ratings">Analyst Stock Ratings</a> page. Traders can sort through Benzinga's extensive database of analyst ratings, including <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">by analyst accuracy</a>.
Below are the ratings of the most accurate analysts for three high-yielding stocks in the utilities sector.
<h3 class="wp-block-heading">Portland General Electric Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/POR#NYSE">POR</a>)</h3>
<ul>
<li>Dividend Yield: 4.33%</li>
<li>Barclays analyst Nicholas Campanella maintained an Overweight rating and raised the price target from $44 to $48 on July 22. This analyst has an accuracy rate of 65%.</li>
<li>Mizuho analyst Anthony Crowdell maintained a Neutral rating and boosted the price target from $42 to $45 on May 16. This analyst has an accuracy rate of 63%.</li>
<li>Recent News: On July 26, Portland General Electric posted better-than-expected quarterly results.</li>
<li>Benzinga Pro&#8217;s real-time newsfeed alerted to<a href="https://pro.benzinga.com/dashboard"> latest POR news</a></li>
</ul>
<h3 class="wp-block-heading">ALLETE, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALE#NYSE">ALE</a>)</h3>
<ul>
<li>Dividend Yield: 4.39%</li>
<li>Mizuho analyst Anthony Crowdellmaintained a Neutral rating and increased the price target from $57 to $67 on May 16. This analyst has an accuracy rate of 63%.</li>
<li>Wells Fargo analyst Sarah Akers maintained an Equal-Weight rating and raised the price target from $57 to $59 on Feb. 21. This analyst has an accuracy rate of 70%.</li>
<li>Recent News: On Aug. 1, ALLETE posted downbeat quarterly results.</li>
<li>Benzinga Pro&#8217;s charting tool helped identify the <a href="https://pro.benzinga.com/dashboard">trend in ALE's stock</a>.</li>
</ul>
<h3 class="wp-block-heading">Clearway Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CWEN#NYSE">CWEN</a>)</h3>
<ul>
<li>Dividend Yield: 6.05%</li>
<li>Morgan Stanley analyst Robert Kadupgraded the stock from Equal-Weight to Overweight and boosted the price target from $25 to $36 on July 31. This analyst has an accuracy rate of 80%.</li>
<li>Oppenheimer analyst Noah Kaye maintained an Outperform rating and raised the price target from $33 to $37 on Jan. 19. This analyst has an accuracy rate of 70%.</li>
<li>Recent News: On Aug. 1, Clearway Energy posted a decline in second-quarter sales.</li>
<li><a href="https://pro.benzinga.com/dashboard">Benzinga Pro&#8217;s signals feature</a> notified of a potential breakout in CWEN's shares.</li>
</ul>
Read More: 
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40161976/home-depot-to-rally-more-than-14-here-are-10-top-analyst-forecasts-for-monday">Home Depot To Rally More Than 14%? Here Are 10 Top Analyst Forecasts For Monday</a></li>
</ul>

<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="How to Find Dividend Stocks: Scan, Analyze, and Capture with Benzinga Pro" width="500" height="281" src="https://www.youtube.com/embed/pVF0O2lsEH4?start=1&#038;feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>

Price Target

Markets

Analyst Ratings

Trading Ideas

CWEN

Wall Street's Most Accurate Analysts Spotlight On 3 Utilities Stocks Delivering High-Dividend Yields

ALLETE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALE#NYSE">ALE</a>) reported quarterly earnings of $0.57 per share which missed the analyst consensus estimate of $0.83 by 31.33 percent. This is a 36.67 percent decrease over earnings of $0.90 per share from the same period last year. The company reported quarterly sales of $354.500 million which missed the analyst consensus estimate of $547.000 million by 35.19 percent. This is a 33.54 percent decrease over sales of $533.400 million the same period last year.

ALLETE Q2 2024 GAAP EPS $0.57 Misses $0.83 Estimate, Sales $354.500M Miss $547.000M Estimate

Designed to provide broad exposure to the Style Box - Small Cap Value category of the market, the WisdomTree U.S. SmallCap Dividend ETF (ARCA:DES) is a smart beta exchange traded fund launched on 06/16/2006.
<h2>What Are Smart Beta ETFs?</h2>
The ETF industry has long been dominated by products based on market cap weighted indexes, a strategy created to reflect the market or a particular market segment.
Investors who believe in market efficiency should consider market cap indexes, as they replicate market returns in a low-cost, convenient, and transparent way.
There are some investors, though, who think it&#39;s possible to beat the market with great stock selection; this group likely invests in another class of funds known as smart beta, which track non-cap weighted strategies.
By attempting to pick stocks that have a better chance of risk-return performance, non-cap weighted indexes are based on certain fundamental characteristics, or a combination of such.
While this space offers a number of choices to investors, including simplest equal-weighting, fundamental weighting and volatility/momentum based weighting methodologies, not all these strategies have been able to deliver superior results.
<h2>Fund Sponsor &amp; Index</h2>
The fund is managed by Wisdomtree, and has been able to amass over $2.06 billion, which makes it one of the larger ETFs in the Style Box - Small Cap Value. Before fees and expenses, DES seeks to match the performance of the WisdomTree U.S. SmallCap Dividend Index.
The WisdomTree U.S. SmallCap Dividend Index is a fundamentally weighted index measuring the performance of the small-capitalization segment of the US dividend-paying market.
<h2>Cost &amp; Other Expenses</h2>
Cost is an important factor in selecting the right ETF, and cheaper funds can significantly outperform their more expensive cousins if all other fundamentals are the same.
Operating expenses on an annual basis are 0.38% for DES, making it on par with most peer products in the space.
It&#39;s 12-month trailing dividend yield comes in at 2.58%.
<h2>Sector Exposure and Top Holdings</h2>
It is important to delve into an ETF&#39;s holdings before investing despite the many upsides to these kinds of funds like diversified exposure, which minimizes single stock risk. And, most ETFs are very transparent products that disclose their holdings on a daily basis.
Representing 27.60% of the portfolio, the fund has heaviest allocation to the Financials sector; Industrials and Consumer Discretionary round out the top three.
Looking at individual holdings, Organon &amp; Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ogn#NYSE">OGN</a>) accounts for about 1.57% of total assets, followed by TFS&nbsp;Financial Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tfsl#NASDAQ">TFSL</a>) and Allete Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ale#NYSE">ALE</a>).
The top 10 holdings account for about 8.19% of total assets under management.
<h2>Performance and Risk</h2>
The ETF return is roughly 9.65% and it&#39;s up approximately 17.30% so far this year and in the past one year (as of 07/31/2024), respectively. DES has traded between $26.55 and $34.83 during this last 52-week period.
The fund has a beta of 1.09 and standard deviation of 19.51% for the trailing three-year period, which makes DES a medium risk choice in this particular space. With about 595 holdings, it effectively diversifies company-specific risk.
<h2>Alternatives</h2>
WisdomTree U.S. SmallCap Dividend ETF is a reasonable option for investors seeking to outperform the Style Box - Small Cap Value segment of the market. However, there are other ETFs in the space which investors could consider.
Avantis U.S. Small Cap Value ETF (ARCA:AVUV) tracks ---------------------------------------- and the Vanguard Small-Cap Value ETF (ARCA:VBR) tracks CRSP U.S. Small Cap Value Index. Avantis U.S. Small Cap Value ETF has $13.13 billion in assets, Vanguard Small-Cap Value ETF has $29.85 billion. AVUV has an expense ratio of 0.25% and VBR charges 0.07%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Style Box - Small Cap Value.
<a href="https://www.zacks.com/stock/news/2312604/is-wisdomtree-u-s-smallcap-dividend-etf-des-a-strong-etf-right-now?cid=CS-BENZ-FT-smart_beta_etf-2312604">To read this article on Zacks.com click here.</a>

Small Cap

ETFs

AVUV

WisdomTree Trust WisdomTree SmallCap Dividend

TFSL

Is WisdomTree U.S. SmallCap Dividend ETF a Strong ETF Right Now?

Mizuho analyst Anthony Crowdell maintains ALLETE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALE#NYSE">ALE</a>) with a Neutral and raises the price target from $57 to $67.

Mizuho Maintains Neutral on ALLETE, Raises Price Target to $67

ALLETE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALE#NYSE">ALE</a>) reported quarterly earnings of $0.88 per share which missed the analyst consensus estimate of $1.02 by 13.73 percent. This is a 13.73 percent decrease over earnings of $1.02 per share from the same period last year. The company reported quarterly sales of $403.30 million which missed the analyst consensus estimate of $504.75 million by 20.10 percent. This is a 28.61 percent decrease over sales of $564.90 million the same period last year.

ALLETE Q1 EPS $0.88 Misses $1.02 Estimate, Sales $403.30M Miss $504.75M Estimate

ALLETE, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALE#NYSE">ALE</a>) inked a deal to be acquired by a partnership led by Canada Pension Plan Investment Board and Global Infrastructure Partners for $6.2 billion,&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/b38637687/allete-enters-agreement-to-be-acquired-by-a-partnership-led-by-canada-pension-plan-investment-boar" rel="noreferrer noopener">including the assumption of debt</a>.
As per the terms, CPP Investments and GIP will acquire ALLETE for $67.00 per share in cash, representing&nbsp;an premium&nbsp;of around 19.1% to ALLETE&#8217;s closing share price on December 4, 2023, the date&nbsp;prior to&nbsp;a media article reporting that ALLETE was exploring a sale. The consideration also represents a&nbsp;22.1%&nbsp;premium to the 30-day volume weighted average share price&nbsp;prior to&nbsp;that date.
The acquisition,&nbsp;which was&nbsp;unanimously approved by the Board of Directors, is expected to close in mid-2025, subject to customary closing conditions.&nbsp;
Post&nbsp;deal-completion, ALLETE&#8217;s shares will no longer trade on the New York Stock&nbsp;Exchange,&nbsp;and&nbsp;will&nbsp;become a private company.
&#8220;Our &#8216;Sustainability-in-Action&#8217; strategy has secured ALLETE&#8217;s place as a clean-energy leader. Through this transaction with CPP Investments and GIP, we will have access to the capital we need while keeping our customers, communities and co-workers at the forefront of all that we do, with continuity of our day-to-day operations, strategy and shared purpose and values,&#8221; said ALLETE Chair, President, and Chief Executive Officer Bethany Owen.
Bayo Ogunlesi, GIP&#8217;s Chairman and Chief Executive&nbsp;Officer&nbsp;said, &#8220;GIP, alongside CPP Investments, look forward to partnering to provide ALLETE with additional capital so they can continue to decarbonize their business to benefit the customers and communities they serve. Bringing together ALLETE, with its demonstrated commitment to clean energy, with GIP, one of the world&#8217;s premier developers of renewable power, furthers our commitment to serve growing market needs for affordable, carbon-free and more secure sources of energy.&#8221;
In&nbsp;Februrary, ALLETE&nbsp;reported fourth-quarter FY23 EPS&nbsp;of $0.89&nbsp;missing&nbsp;the consensus of&nbsp;$0.97&nbsp;and&nbsp;sales of&nbsp;$402.70&nbsp;million&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/02/b37207600/allete-inc-reports-2023-earnings-of-4-30-per-share-clean-energy-transition-drives-4-3-billion-capi" rel="noreferrer noopener">missed the estimate of $425.30 million</a>.
Investors can gain exposure to the stock via&nbsp;VictoryShares US Small Cap High Div Volatility Wtd ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSB#NASDAQ">CSB</a>) and&nbsp;Affinity World Leaders Equity ETF Hypatia Women CEO ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WCEO#NYSE">WCEO</a>).
Price Action: ALE shares are down 1.27% at $63.46 at the last check Monday.
Image sourced from Shutterstock

Equities

Mid Cap

WCEO

Electric Services Company ALLETE Going Green And Private: Details

ALLETE Enters Agreement To Be Acquired By A Partnership Led By Canada Pension Plan Investment Board And Global Infrastructure Partners For $67/Share In Cash; Acquisition Expected To Close In Mid 2025

<a href="https://www.ft.com/content/f5bcc266-8ee4-4b21-842c-6cc0d2c678e0">https://www.ft.com/content/f5bcc266-8ee4-4b21-842c-6cc0d2c678e0</a>
&nbsp;

Financial Times Yesterday Reported 'GIP And CPP Near $5bn Deal For Utility Group Allete'

Press Releases

ALLETE Board of Directors Raises Quarterly Common Stock Dividend

ALLETE, Inc. Reports 2024 Earnings

Commodities

New Energy Equity Partners with Harlem Consolidated School District on 5.54 MWdc Community Solar Project

ALLETE Names Jeff Scissons Chief Financial Officer

Wisconsin Regulators Approve Proposed ALLETE Transaction With Canada Pension Plan Investment Board and Global Infrastructure Partners

New Energy Equity's Lift as We Climb Foundation Donates $100,000 to Civic Works to Expand Solar Access in Baltimore

New Energy Equity Announces Leadership Transition: Josh Kunkel to Succeed Matt Hankey as CEO

ALLETE recognized for commitment to women in leadership roles

ALLETE to Announce First Quarter Financial Results May 08

ALLETE Board of Directors Declares Dividend on Common Stock

Comp En De Mn Cemig ADS American Depositary Shares

Cia Energetica DE Minas

Comp En De Mn Cemig ADS American Depositary Receipts

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) American Depositary Shares

Empresa Distribuidora y

Companhia Paranaense de Energia (COPEL) American Depositary Shares (each representing one Unit consisting one Common Share and four non-voting Class B Preferred Shares)

Cia Paranaense De Energia

Companhia Paranaense de Energia (COPEL) American Depositary Shares (each representing four (4) Common Shares)

Enel Chile S.A. American Depositary Shares (Each representing 50 shares of Common Stock)

Comments

ALLETE

ALLETE (ALE) Options

ALLETE (NYSE:ALE) Stock, Chaîne d'Options

Notizie

PARTENAIRE / CONTRIBUTEUR

BENZINGA MONDIAL