Allete Inc

NYSE ALE

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Allete Inc Market Capitalization on June 03, 2024: USD 3.62 B

Allete Inc Market Capitalization is USD 3.62 B on June 03, 2024, a 5.37% change year over year. Market capitalization is a financial metric that represents the total value of a publicly traded company. It is calculated by multiplying the current share price of a company by the total number of outstanding shares. Market capitalization is used to assess the size and relative value of a company in the stock market. It provides investors with an idea of the company's overall worth and is often used as a basis for comparing companies within the same industry or sector. A higher market capitalization generally indicates a larger, more established company.
  • Allete Inc 52-week high Market Capitalization is USD 3.71 B on May 03, 2024, which is 2.29% above the current Market Capitalization.
  • Allete Inc 52-week low Market Capitalization is USD 2.90 B on October 02, 2023, which is -20.05% below the current Market Capitalization.
  • Allete Inc average Market Capitalization for the last 52 weeks is USD 3.33 B.
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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