ALLETE

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, and U.S. Water Services. The Regulated Operations segment includes regulated utilities, Minnesota Power, SWL&P, and investment in ATC, which regulates utilities that own and maintain 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 company was founded in 1906 and is headquartered in Duluth, MN.

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ALLETE reports solid earnings growth, focuses on clean energy future

ALLETE's strong financial performance in 2022 and positive 2023 guidance reflect its commitment to sustainable energy and long-term growth objectives.
Despite challenges such as market volatility and cost drivers, the company remains focused on innovation, customer affordability, and regulatory support.
With a strategic focus on clean energy leadership, ALLETE is well-positioned to navigate uncertainties and deliver value to investors and customers.

ALLETE reports Q1 earnings dip, remains strong in renewable energy

ALLETE's Q1 performance showed a slight decline in earnings but maintained stability and confidence in its full-year guidance.
The company's strengths lie in its leadership in renewable energy investments, strong financial position, and commitment to sustainability.
Challenges from operational impacts and upcoming rate cases are balanced by opportunities in renewable energy projects and market alignment.
Overall, ALLETE's strategic focus on clean energy transition positions it well for future growth and resilience in the evolving energy landscape.

ALLETE reports robust Q2 earnings, advances clean energy initiatives

ALLETE's strong Q2 performance and reaffirmed full-year guidance reflect a resilient financial outlook
The company's strategic focus on clean energy initiatives and sustainable growth underscores its commitment to long-term success
While facing challenges related to income variances and market dynamics, ALLETE remains poised to capitalize on opportunities in the clean energy sector

ALLETE reports robust Q3 earnings, eyes clean energy growth

ALLETE delivered strong earnings growth in Q3 2023, driven by robust performance in both core operations and clean energy segment.
While facing challenges related to regulatory filings and potential customer impact, ALLETE's strategic initiatives and financial strength position it well for future growth.
Opportunities lie in the company's focus on sustainability, grants received for projects, and the potential for further expansion and innovation in clean energy.

ALLETE reports strong Q4 earnings, eyes growth in renewables

ALLETE's Q4 2023 performance exceeded expectations, with full-year earnings showing significant growth compared to the previous year.
The company's focus on renewable energy projects, grid modernization, and regulatory approvals positions it for future earnings growth.
Challenges in ALLETE Clean Energy are being addressed, while New Energy Equity continues to outperform, showcasing operational resilience.
The dividend increase and consistent dividends paid reflect ALLETE's commitment to shareholder value and long-term growth.

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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, and Corporate and Other. The Regulated Operations segment includes regulated utilities, Minnesota Power, SWL&P, and investment in ATC, which regulates utilities that own and maintain electric transmission assets. The ALLETE Clean Energy segment develops, acquires, and operates clean and renewable energy projects. The Corporate and Other segment includes New Energy, South Shore Energy, BNI Energy, ALLETE Properties, a small amount of non-rate base generation, land holdings, and earnings on cash and investments. The company was founded on January 25, 1906 and is headquartered in Duluth, MN.

MILWAUKEE , May 7, 2024 /PRNewswire/ -- Ademi LLP is investigating ALLETE (NYSE: ALE) for possible breaches of fiduciary duty and other violations of law in its going private transaction with CPP Investments and Global Infrastructure Partners. Click here to learn how to join the https://www.ademilaw.com/case/allete-inc or call Guri Ademi toll-free at 866-264-3995.

Shareholder Alert: Ademi LLP investigates whether ALLETE, Inc. has obtained a Fair Price in its Going Private Transaction with CPP Investments and Global Infrastructure Partners

NEW YORK , May 6, 2024 /PRNewswire/ -- Rowley Law PLLC is investigating potential securities law violations by ALLETE, Inc. (NYSE: ALE) and its board of directors concerning the proposed acquisition of the company by Canada Pension Plan Investment Board and Global Infrastructure Partners. Stockholders will receive $67.00 for each share of ALLETE stock that they hold.

ALERT: Rowley Law PLLC is Investigating Proposed Acquisition of ALLETE, Inc.

NEW YORK , May 6, 2024 /PRNewswire/ -- Monteverde & Associates PC (the "M&A Class Action Firm"), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and is investigating ALLETE, Inc. (NYSE: ALE) , relating to its proposed merger with a partnership led by Canada Pension Plan Investment Board and Global Infrastructure Partners.

STOCKHOLDER INVESTIGATION: The M&A Class Action Firm Announces An Investigation of ALLETE, Inc. - ALE

Perficient

NEW YORK , May 6, 2024 /PRNewswire/ -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to: ALLETE, Inc. (NYSE: ALE)'s  sale to Canada Pension Plan Investment Board ("CPP") and Global Infrastructure Partners ("GIP") for $67.00 per share in cash. If you are an ALLETE shareholder, click here to learn more about your rights and opt ions.

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates ALE, PRFT

NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLC, an investor rights law firm, is investigating whether the sale of ALLETE, Inc. (NYSE: ALE) to Canada Pension Plan Investment Board (“CPP”) and Global Infrastructure Partners (“GIP”) for $67.00 per share in cash is fair to ALLETE shareholders. Halper Sadeh encourages ALLETE shareholders to click here to learn more about their legal rights and options or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or sadeh@halpersadeh.com or zhalper@halper.

ALE Stock Alert: Halper Sadeh LLC Is Investigating Whether the Sale of ALLETE, Inc. Is Fair to Shareholders

Allete said on Monday a partnership led by Canada Pension Plan Investment Board and Global Infrastructure Partners would acquire the U.S. utility for $6.2 billion, including debt.

US utility Allete goes private in $6.2 bln deal

Power producer Allete Inc. ALE, +5.64% said Monday it agreed to go private for $67 a share in a deal valued at about $6.2 billion including debt with buyers Canada Pension Plan Investment Board and Global Infrastructure Partners. Duluth, Minn.

Clean-energy producer Allete agrees to go private for $6.2 billion

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE: ALE) and a partnership led by Canada Pension Plan Investment Board (“CPP Investments”) and Global Infrastructure Partners (“GIP”), (the “partnership”), today jointly announced that they have entered into a definitive agreement under which the partnership will acquire ALLETE for $67.00 per share in cash, or $6.2 billion including the assumption of debt. ALLETE is a leading energy company and provider of safe, reliable, and competitively priced.

ALLETE Enters Agreement to be Acquired by a Partnership Led by Canada Pension Plan Investment Board and Global Infrastructure Partners to Advance ‘Sustainability-in-Action' Strategy

DULUTH, Minn.--(BUSINESS WIRE)--Minnesota Power, a utility division of ALLETE Inc. (NYSE: ALE), has reached a settlement agreement on its 2024 electric rate proposal with the Minnesota Department of Commerce, Minnesota Attorney General's Office and Large Power Intervenors. If approved by the Minnesota Public Utilities Commission (MPUC), the agreement would set final rate increases of about 4.9% for residential and small business customers and about 4.4% for industrial and large commercial custo.

Minnesota Power Reaches Electric Rate Settlement With State Agencies and Large Power Customers

WASHINGTON , April 25, 2024 /PRNewswire/ -- NT Solar, a national tax credit syndicator with a mission to provide affordable clean energy access through investments in renewables and battery projects with strong ESG attributes, is thrilled to announce a series of four strategic solar tax credit (ITC) investments across the country, establishing new partnerships, building upon successful ongoing relationships, and continuing the growth of our network of investment partners. These investments supported the development of 4 solar projects, including the largest solar installation to date in Rhode Island, as well as various community solar projects in New Jersey, New York, and California.

NT Solar Celebrates New Impact Investment Fund & Series of Successful Transactions

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ASO, ALE and AMR have been added to the Zacks Rank #5 (Strong Sell) List on April 17, 2023.

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DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE:ALE) has been named an Honor Roll company of Special Distinction in an annual report on gender diversity in the executive ranks and on the boards of directors of the largest publicly traded companies in Minnesota. St. Catherine University conducts the research each year and the resulting report, called “The Minnesota Census of Women in Corporate Leadership,” is published by Twin Cities Business. For 2023, ALLETE was among nine companies to qual.

ALLETE Recognized for Gender Diversity on Board and Among Executive Officers

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Inc. (NYSE:ALE) will announce its financial results for the first quarter before the stock markets open on Thursday, May 9, 2024. Following the release, ALLETE Chair, President and Chief Executive Officer Bethany M. Owen, and Senior Vice President and Chief Financial Officer Steven W. Morris will present an overview of results and discuss other factors related to performance during a conference call beginning at 10 a.m. Eastern time. Interested parties may.

ALLETE to Announce First Quarter Financial Results May 9

ANNAPOLIS, Md. , Feb. 27, 2024 /PRNewswire/ -- New Energy Equity, national developer and financier of community and commercial solar projects, has named Tim Ahrens as its Senior Vice President of Development.

New Energy Equity announces Tim Ahrens as Senior Vice President of Development

ALLETE, Inc. (ALE) Q4 2023 Earnings Call Transcript

Allete (ALE) came out with quarterly earnings of $0.89 per share, missing the Zacks Consensus Estimate of $0.93 per share. This compares to earnings of $0.90 per share a year ago.

Allete (ALE) Misses Q4 Earnings and Revenue Estimates

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE: ALE) today reported 2023 earnings of $4.30 per share on net income of $247.1 million and operating revenue of $1.9 billion. Reported results from 2022 were $3.38 per share on net income of $189.3 million and operating revenue of $1.6 billion. “We are very pleased with our solid financial results in 2023 and our team's execution of strategic initiatives that will drive strong earnings growth and investment in clean energy for years to come,” sa.

ALLETE, Inc. reports 2023 earnings of $4.30 per share; clean energy transition drives $4.3 billion capital investment plan over the next five years

DULUTH, Minn.--(BUSINESS WIRE)--Minnesota Power, a utility division of ALLETE Inc. (NYSE: ALE), has issued a Request for Proposals (RFP) for up to 400 megawatts of wind energy to come online by the end of 2027, an important milestone in advancing its EnergyForward vision for 100% carbon-free energy. The RFP follows Minnesota Power's 2021 Integrated Resource Plan approved by the Minnesota Public Utilities Commission, which calls for the company to acquire up to 300 megawatts of solar energy that.

Minnesota Power advances EnergyForward with request for proposals for up to 400 megawatts of wind energy

ALLETE is a utility company with a strong focus on sustainability and clean energy, making it an attractive investment in the utility sector. The company has shown robust growth in revenues and EPS over the past decade, driven by organic growth and strategic acquisitions. ALLETE's current valuation, with a P/E ratio of 14, is attractive considering its growth potential, thus making it a buy.

Unlocking Green Power: Allete Is A Gem In The Utility Sector

ALLETE Inc's stock has underperformed the broader market, but it still presents a good long-term investment opportunity. The company is focusing on clean and renewable energy projects, particularly in wind energy generation. ALLETE has identified investment opportunities, such as expanding into North Dakota, which could lead to increased revenues and shareholder returns.

Allete: I Continue To Be Bullish On This Quality Business

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19 Upcoming Dividend Increases Including 2 Kings

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Inc. (NYSE:ALE) will announce its financial results for 2023 before the stock markets open on Tuesday, February 20, 2024. Following the release, ALLETE Chair, President and Chief Executive Officer Bethany M. Owen, and Senior Vice President and Chief Financial Officer Steven W. Morris will present an overview of results and other factors related to performance, and discuss 2024 earnings guidance during a conference call beginning at 10 a.m. Eastern time. In.

ALLETE to announce 2023 financial results on February 20

ANNAPOLIS, Md. , Feb. 7, 2024 /PRNewswire/ -- New Energy Equity, national developer and financier of community and commercial solar projects, has welcomed Jackie Chambers to its leadership team as chief investment officer.

New Energy Equity names Jackie Chambers as chief investment officer

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE:ALE) today announced that its Board of Directors has increased the quarterly dividend on the company's common stock to $0.705 per share, a 4.1% percent increase. “This dividend increase reflects the ALLETE Board of Directors' confidence in our growth outlook for ALLETE,” said ALLETE Chair, President and CEO Bethany Owen. “We are pleased to deliver another dividend increase to our shareholders – adding to our track record of more than 74 consecu.

ALLETE Board of Directors raises quarterly common stock dividend

ANNAPOLIS, Md. , Jan. 16, 2024 /PRNewswire/ --  New Energy Equity  LLC, a national developer of community and commercial solar projects, has donated $200,000 to  Folds of Honor  through its Lift as We Climb Foundation.

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