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Last $48.80 USD
Change Today +0.39 / 0.81%
Volume 318.6K
ALE On Other Exchanges
Symbol
Exchange
New York
Frankfurt
As of 4:15 PM 08/4/15 All times are local (Market data is delayed by at least 15 minutes).

allete inc (ALE) Snapshot

Open
$49.98
Previous Close
$48.41
Day High
$49.98
Day Low
$48.61
52 Week High
01/27/15 - $59.73
52 Week Low
10/1/14 - $44.19
Market Cap
2.4B
Average Volume 10 Days
271.0K
EPS TTM
$3.07
Shares Outstanding
48.9M
EX-Date
08/12/15
P/E TM
15.9x
Dividend
$2.02
Dividend Yield
4.07%
Current Stock Chart for ALLETE INC (ALE)

allete inc (ALE) Related Businessweek News

No Related Businessweek News Found

allete inc (ALE) Details

ALLETE, Inc. operates as an energy company. The company operates through Regulated Operations, and Investments and Other segments. It generates electricity from coal-fired, hydro, wind, and biomass co-fired facilities. The company provides regulated electric, natural gas, and water services in northwestern Wisconsin to approximately 15,000 electric customers, 12,000 natural gas customers, and 10,000 water customers, as well as regulated utility electric service in northeastern Minnesota to approximately 144,000 retail customers and 16 non-affiliated municipal customers. It also owns and maintains electric transmission assets in Wisconsin, Michigan, Minnesota, and Illinois. The company owns and operates 174 substations with a capacity of 10,651 megavolt amperes. In addition, it is involved 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. It serves industrial clients that 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.

1,581 Employees
Last Reported Date: 02/17/15
Founded in 1906

allete inc (ALE) Top Compensated Officers

Chairman, Chief Executive Officer, President ...
Total Annual Compensation: $578.4K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $268.5K
Senior Vice President, General Counsel and Se...
Total Annual Compensation: $312.6K
Senior Vice President of External Affairs
Total Annual Compensation: $275.2K
Chief Risk Officer and Vice President of Ener...
Total Annual Compensation: $253.4K
Compensation as of Fiscal Year 2014.

allete inc (ALE) Key Developments

ALLETE, Inc. Declares Regular Quarterly Dividend, Payable on September 1, 2015

The ALLETE, Inc. board of directors has declared a quarterly dividend of 50.5 cents per share of common stock. On an annual basis the dividend is equivalent to $2.02 per share, unchanged from the previous quarter. The regular quarterly dividend is payable September 1 to common stock shareholders of record at the close of business August 14, 2015.

ALLETE Inc. to Issue $100 Million of Mortgage Bonds in Private Placement Market

ALLETE Inc. announced that it agreed to issue $100 million of its first mortgage bonds on or about September 24 to certain institutional buyers in the private placement market. The offering includes $40 million of its 2.80% of bonds, due September 15, 2020, and $60 million of its 3.86% bonds, due September 16, 2030. Interest on the bonds is payable semiannually on March 15 and Sept. 15 of each year, commencing March 15, 2016. The company intends to use the proceeds from the sale of the bonds to fund utility capital expenditures and/or for general corporate purposes.

Minnesota Power to Idle Taconite Harbor Energy Center in the Fall of 2016

Minnesota Power will idle its Taconite Harbor Energy Center beginning in the fall of 2016. Located in the North Shore town of Schroeder, Taconite Harbor Energy Center currently produces 150 of the company's 1,900 megawatts of power. The company will cease coal-fired operations at Taconite Harbor entirely by the end of 2020. In the interim years, it will be restarted only to maintain grid reliability. The move comes as part of the company's "EnergyForward" initiative -- a road map for achieving a diversified energy supply of one-third renewable resources, one-third coal and one-third natural gas. The company will explore future options for the Taconite Harbor plant, including using a different fuel, finding a new mission or retiring the plant altogether.

 

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Industry Analysis

ALE

Industry Average

Valuation ALE Industry Range
Price/Earnings 16.4x
Price/Sales 2.0x
Price/Book 1.3x
Price/Cash Flow 8.6x
TEV/Sales 0.8x
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