Allete Inc

NYSE ALE

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Allete Inc Price to Earnings Ratio (P/E) on June 03, 2024: 26.37

Allete Inc Price to Earnings Ratio (P/E) is 26.37 on June 03, 2024, a 39.14% change year over year. The price to earnings ratio (P/E ratio) compares the market price per share of a company's stock to its earnings per share (EPS). It is calculated by dividing the market capitalization by the net income, divided by the number of outstanding shares. This ratio provides insights into the market's valuation of a company's earnings. A higher P/E ratio indicates that investors are willing to pay a higher price for each unit of earnings, suggesting higher market expectations for future earnings growth.
  • Allete Inc 52-week high Price to Earnings Ratio (P/E) is 26.71 on May 20, 2024, which is 1.31% above the current Price to Earnings Ratio (P/E).
  • Allete Inc 52-week low Price to Earnings Ratio (P/E) is 11.68 on October 02, 2023, which is -55.71% below the current Price to Earnings Ratio (P/E).
  • Allete Inc average Price to Earnings Ratio (P/E) for the last 52 weeks is 16.42.
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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StockViz Staff

September 20, 2024

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