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
News

Recap: ALLETE Q2 Earnings
3 Aug 22
ALLETE Q2 EPS $0.67 Beats $0.63 Estimate, Sales $373.10M Beat $342.82M Estimate
3 Aug 22
Earnings Scheduled For August 3, 2022
3 Aug 22
Benzinga's Top Ratings Upgrades, Downgrades For May 25, 2022
25 May 22
B of A Securities Initiates Coverage On ALLETE with Neutral Rating, Announces Price Target of $63
25 May 22
Press releases
ALLETE, Inc. Reports Second Quarter Earnings of 67 Cents Per Share, Reaffirms 2022 Earnings Guidance Range of $3.60 - $3.90 Per Share
3 Aug 22
ALLETE Board of Directors declares dividend on common stock
28 Jul 22
Minnesota Power and Great River Energy to Build Transmission Line to Bolster Electric Reliability in Northern Minnesota
25 Jul 22
ALLETE to Announce Second Quarter Financial Results August 3
11 Jul 22
Charles Matthews Named to ALLETE Board of Directors
6 Jul 22
Analyst ratings and price targets
Investment data
Securities sold
Number of investors
Calendar
2 Aug 22
9 Aug 22
31 Dec 22
Financial summary
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Annual (USD) | Dec 21 | Dec 20 | Dec 19 | Dec 18 | |
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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) | 81.7M | 81.7M | 81.7M | 81.7M | 81.7M | 81.7M |
Cash burn (monthly) | (no burn) | (no burn) | (no burn) | (no burn) | 1.03M | (no burn) |
Cash used (since last report) | n/a | n/a | n/a | n/a | 1.39M | n/a |
Cash remaining | n/a | n/a | n/a | n/a | 80.31M | n/a |
Runway (months of cash) | n/a | n/a | n/a | n/a | 77.7 | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
1 Jun 22 | Thomas Charlene A | Common Stock | Grant | Acquire A | No | No | 0 | 1,585.37 | 0 | 3,090.88 |
1 Jun 22 | Nestegard Susan K | Common Stock | Grant | Acquire A | No | No | 0 | 1,585.37 | 0 | 8,110.12 |
1 Jun 22 | Ludlow Madeleine W | Common Stock | Grant | Acquire A | Yes | No | 0 | 1,585.37 | 0 | 15,563.78 |
1 Jun 22 | Neve Douglas C | Common Stock | Grant | Acquire A | No | No | 0 | 1,585.37 | 0 | 13,631.77 |
Institutional ownership, Q1 2022
69.5% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 284 |
Opened positions | 47 |
Closed positions | 42 |
Increased positions | 97 |
Reduced positions | 93 |
13F shares | Current |
---|---|
Total value | 2.69B |
Total shares | 39.66M |
Total puts | 9.2K |
Total calls | 4.6K |
Total put/call ratio | 2.0 |
Largest owners | Shares | Value |
---|---|---|
BLK Blackrock | 6.02M | $403.35M |
Vanguard | 5.54M | $371.15M |
STT State Street | 2.2M | $147.04M |
Victory Capital Management | 1.63M | $109.32M |
ATLAS Infrastructure Partners | 1.62M | $112.05M |
GS Goldman Sachs | 1.21M | $81.17M |
MCQEF Macquarie | 1.19M | $79.66M |
First Trust Advisors | 1.03M | $69.2M |
BK Bank Of New York Mellon | 948.81K | $63.55M |
Geode Capital Management | 923.23K | $61.84M |
Financial report summary
?Management Discussion
- Net income attributable to ALLETE in 2021 was $169.2 million, or $3.23 per diluted share, compared to $174.2 million, or $3.35 per diluted share, in 2020. Net income in 2021 included South Shore Energy’s sale of a portion of its interest in NTEC to Basin Electric Cooperative. The closing of the transaction between South Shore Energy and Basin resulted in the recognition of an approximately $8.5 million after-tax gain, or $0.16 per share, related to prior development costs and risks incurred. Net income in 2021 also included an approximately $5 million after-tax, or $0.10 per share, negative impact related to ALLETE Clean Energy’s Diamond Spring wind energy facility due to an extreme winter storm event in the southwest United States in February 2021. This winter storm event caused volatility in power prices in the regional power market resulting in losses being incurred under one of the facility’s power sales agreements during portions of the winter storm event. Additionally, net income in 2021 included a $3.6 million after-tax, or $0.07 per share, charge resulting from the MPUC’s decision to order refunds in Minnesota Power’s fuel adjustment clause filing covering the period July 2018 through December 2019. Net income in 2020 included margins of $10.2 million after-tax, or $0.20 per share, in Regulated Operations for sales under a 100 MW PSA which expired in April 2020. Net income in 2020 also included reserves for interim rates of $8.3 million after-tax, or $0.16 per share, for the refund of interim rates collected between January 1, 2020, and April 30, 2020. Earnings per share dilution in 2021 was $0.03 due to additional shares of common stock outstanding as of December 31, 2021.
Content analysis
?Positive | ||
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Readability |
7th grade Avg
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New words:
accuracy, Aetna, al, arc, BATW, Boiler, build, CCA, central, congestion, corridor, County, cycle, decommissioning, discount, discounted, doctrine, DRI, enable, feedstock, forma, found, HBI, highly, hub, intangible, Itasca, long, MACT, Midwest, milder, node, opine, Pool, purpose, reclassification, refiled, repricing, reserve, retention, Rock, shifting, shown, statute, Unified, Upper, workforce
Removed:
addressed, basin, fee, Husky, identified, professional, revise, unknown
Financial reports
Current reports
8-K
Departure of Directors or Certain Officers
6 Jul 22
8-K
Submission of Matters to a Vote of Security Holders
12 May 22
8-K
Other Events
5 Apr 22
8-K
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
2 Mar 22
8-K
Regulation FD Disclosure
15 Feb 22
8-K
Departure of Directors or Certain Officers
9 Feb 22
8-K
Departure of Directors or Certain Officers
2 Feb 22
8-K
Departure of Directors or Certain Officers
11 Jan 22
8-K
Departure of Directors or Certain Officers
4 Oct 21
8-K
ALLETE announces third partner in Nemadji Trail Energy Center Project
27 Sep 21
Registration and prospectus
S-3ASR
Automatic shelf registration
28 Jul 22
S-8
Registration of securities for employees
25 May 22
424B2
Prospectus for primary offering
1 Apr 22
424B5
Prospectus supplement for primary offering
31 Mar 22
S-3ASR
Automatic shelf registration
16 Feb 22
S-8
Registration of securities for employees
17 Feb 21
424B2
Prospectus for primary offering
5 May 20
S-3ASR
Automatic shelf registration
30 Jul 19
FWP
Free writing prospectus
7 Jun 19
S-3ASR
Automatic shelf registration
25 Apr 19
Other
UPLOAD
Letter from SEC
10 Jul 18
CORRESP
Correspondence with SEC
9 Jul 18
UPLOAD
Letter from SEC
26 Jun 18
UPLOAD
Letter from SEC
22 May 17
CORRESP
Correspondence with SEC
16 May 17
UPLOAD
Letter from SEC
18 Apr 17
UPLOAD
Letter from SEC
9 Nov 09
CORRESP
Correspondence with SEC
29 Oct 09
UPLOAD
Letter from SEC
29 Sep 09
UPLOAD
Letter from SEC
21 Jan 08
Ownership
3
ALLETE / Charles R Matthews ownership change
15 Jul 22
11-K
Annual report of employee stock purchases
22 Jun 22
4
ALLETE / BARBARA A NICK ownership change
2 Jun 22
4
ALLETE / James J Hoolihan ownership change
2 Jun 22
4
ALLETE / George G Goldfarb ownership change
2 Jun 22
4
ALLETE / ROBERT P POWERS ownership change
2 Jun 22
4
ALLETE / Douglas C Neve ownership change
2 Jun 22
4
ALLETE / MADELEINE W LUDLOW ownership change
2 Jun 22
4
ALLETE / SUSAN K NESTEGARD ownership change
2 Jun 22
4
ALLETE / Charlene A Thomas ownership change
2 Jun 22
Transcripts
2022 Q2
Earnings call transcript
7 Aug 22
2022 Q1
Earnings call transcript
7 May 22
2021 Q4
Earnings call transcript
16 Feb 22
2021 Q3
Earnings call transcript
6 Nov 21
2021 Q2
Earnings call transcript
5 Aug 21
2021 Q1
Earnings call transcript
8 May 21
2020 Q4
Earnings call transcript
17 Feb 21
2020 Q3
Earnings call transcript
9 Nov 20
2020 Q2
Earnings call transcript
8 Aug 20
2020 Q1
Earnings call transcript
9 May 20
Reddit threads
Daily Discussion Thread - August 3rd, 2022
3 Aug 22
Daily Discussion Thread - August 2nd, 2022
2 Aug 22
Daily Discussion Thread - August 1st, 2022
1 Aug 22
Daily Discussion Thread - May 13th, 2022
13 May 22
Daily Discussion Thread - May 12th, 2022
12 May 22
Daily Discussion Thread - May 5th, 2022
5 May 22
Daily Discussion Thread - May 4th, 2022
4 May 22
Daily Discussion Thread - February 16th, 2022
16 Feb 22
Daily Discussion Thread - February 15th, 2022
15 Feb 22
Daily Discussion Thread - February 14th, 2022
14 Feb 22