Allete Inc

NYSE ALE

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Allete Inc Current Ratio for the year ending December 31, 2023: 1.24

Allete Inc Current Ratio is 1.24 for the year ending December 31, 2023, a 23.66% change year over year. The current ratio assesses a company's short-term liquidity and its ability to cover its current liabilities with its current assets. It is calculated by dividing current assets by current liabilities. This ratio indicates the number of times a company's current assets can cover its current liabilities. A higher current ratio suggests better liquidity and a stronger ability to meet short-term obligations.
  • Allete Inc Current Ratio for the year ending December 31, 2022 was 1.00, a 87.01% change year over year.
  • Allete Inc Current Ratio for the year ending December 31, 2021 was 0.54, a -3.34% change year over year.
  • Allete Inc Current Ratio for the year ending December 31, 2020 was 0.55, a 4.42% change year over year.
  • Allete Inc Current Ratio for the year ending December 31, 2019 was 0.53, a -35.64% change year over year.
NYSE: ALE

Allete Inc

CEO Ms. Bethany M. Owen
IPO Date May 3, 1973
Location United States
Headquarters 30 West Superior Street, Duluth, MN, United States, 55802-2093
Employees 1,544
Sector Utilities
Industry Utilities - diversified
Description

ALLETE, Inc. operates as an energy company. The company operates through Regulated Operations, ALLETE Clean Energy, and Corporate and Other segments. It generates electricity from coal-fired, biomass co-fired / natural gas, hydroelectric, wind, and solar. In addition, the company provides regulated utility electric services in northwestern Wisconsin to approximately 15,000 electric customers, 13,000 natural gas customers, and 10,000 water customers, as well as regulated utility electric services in northeastern Minnesota to approximately 150,000 retail customers and 14 non-affiliated municipal customers. Further, it owns and maintains electric transmission assets in Wisconsin, Michigan, Minnesota, and Illinois. Additionally, the company focuses on developing, acquiring, and operating clean and renewable energy projects; and owns and operates approximately 1,200 megawatts of wind energy generation facility, as well as involved in the coal mining operations in North Dakota; and real estate investment activities in Florida. It owns and operates 162 substations with a total capacity of 9,980 megavolt amperes. The company serves taconite mining, paper, pulp and secondary wood products, pipeline, and other industries. The company was formerly known as Minnesota Power, Inc. and changed its name to ALLETE, Inc. in May 2001. ALLETE, Inc. was incorporated in 1906 and is headquartered in Duluth, Minnesota.

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September 20, 2024

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