Loading...
Docoh

Allete (ALE)

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
Former names
ALLETE, MINNESOTA POWER & LIGHT CO, MINNESOTA POWER INC
SEC CIK
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

Analyst ratings and price targets

Last 3 months

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

2 Aug 22
9 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
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

Beta Read what these cash burn values mean

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
69.5% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 284 279 +1.8%
Opened positions 47 50 -6.0%
Closed positions 42 35 +20.0%
Increased positions 97 100 -3.0%
Reduced positions 93 78 +19.2%
13F shares Current Prev Q Change
Total value 2.69B 2.63B +2.2%
Total shares 39.66M 39.23M +1.1%
Total puts 9.2K 3.2K +187.5%
Total calls 4.6K 0 NEW
Total put/call ratio 2.0 Infinity NaN%
Largest owners Shares Value Change
BLK Blackrock 6.02M $403.35M -3.6%
Vanguard 5.54M $371.15M +2.2%
STT State Street 2.2M $147.04M +12.3%
Victory Capital Management 1.63M $109.32M +4.8%
ATLAS Infrastructure Partners 1.62M $112.05M -6.7%
GS Goldman Sachs 1.21M $81.17M +0.1%
MCQEF Macquarie 1.19M $79.66M -0.9%
First Trust Advisors 1.03M $69.2M -0.7%
BK Bank Of New York Mellon 948.81K $63.55M -4.4%
Geode Capital Management 923.23K $61.84M +3.8%
Largest transactions Shares Bought/sold Change
Deprince Race & Zollo 764.46K +546.53K +250.8%
BAM Brookfield Asset Management 36.25K -546.41K -93.8%
Allspring Global Investments 455.64K -307.68K -40.3%
IVZ Invesco 759.22K +289.53K +61.6%
STT State Street 2.2M +240.25K +12.3%
Heartland Advisors 226.4K +226.4K NEW
BLK Blackrock 6.02M -225.62K -3.6%
Citadel Advisors 6.46K -124.59K -95.1%
Vanguard 5.54M +118.44K +2.2%
ATLAS Infrastructure Partners 1.62M -116.02K -6.7%

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
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
7th grade Avg
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