ALLETE (NYSE:ALE) Stock, Quote.Headers.trade-ideas

ALLETE

ALLETE Inc provides competitively-priced energy in America's Upper Midwest region and invests in transmission infrastructure and other energy-centric businesses. The company has two reportable segments. The first segment is Regulated Operations, which includes the company's regulated utilities, Minnesota Power and SWL&P, as well as its investment in ATC. ATC is a regulated utility based in Wisconsin that owns and maintains electric transmission assets in parts of Wisconsin, Michigan, Minnesota, and Illinois. The second segment is ALLETE Clean Energy, which focuses on developing, acquiring, and operating clean and renewable energy projects.

Dividends,Text,On,Documents,With,Graphs,,Charts,,Calculator,,Pen,,Financial

News

Dividends

Price Target

Markets

Analyst Ratings

Trading Ideas

CWEN

Wall Street&#39;s Most Accurate Analysts Spotlight On 3 Utilities Stocks Delivering High-Dividend Yields

Small Cap

ETFs

AVUV

WisdomTree Trust WisdomTree SmallCap Dividend

TFSL

Designed to provide broad exposure to the Style Box - Small Cap Value category of the market, the WisdomTree U.S. SmallCap Dividend ETF (ARCA:DES) is a smart beta exchange traded fund launched on 06/16/2006.

Is WisdomTree U.S. SmallCap Dividend ETF a Strong ETF Right Now?

Business,Partnership,Meeting,Concept.,Image,Businessmans,Handshake.,Successful,Businessmen,Handshaking

Equities

Mid Cap

WCEO

ALLETE to be acquired by CPP Investments and GIP for $6.2 billion. Deal expected to close mid-2025.

Electric Services Company ALLETE Going Green And Private: Details

ALLETE Inc

ALEAFIA HEALTH INC ORD by Aleafia Health Inc.

Alector Inc

ALLIED GROUP LTD UNSP/ADR by Allied Group Ltd.

Allied Group Ltd

Alerio Gold Corp

Aleph Group, Inc

Allegro.EU SA

Aleph.im

Alexander & Baldwin, Inc. Common Stock REIT Holding Company

Alexander & Baldwin Inc

ALLETE  Shareholders Vote To Approve Proposed Transaction With CPP Investments And GIP; Company Continues To Expect Transaction To Close In Mid-2025

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a <a href="https://www.benzinga.com/yield-investments">high dividend payout</a>.
Benzinga readers can review the latest analyst takes on their favorite stocks by visiting our <a href="https://www.benzinga.com/analyst-stock-ratings">Analyst Stock Ratings</a> page. Traders can sort through Benzinga's extensive database of analyst ratings, including <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">by analyst accuracy</a>.
Below are the ratings of the most accurate analysts for three high-yielding stocks in the utilities sector.
<h3 class="wp-block-heading">Portland General Electric Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/POR#NYSE">POR</a>)</h3>
<ul>
<li>Dividend Yield: 4.33%</li>
<li>Barclays analyst Nicholas Campanella maintained an Overweight rating and raised the price target from $44 to $48 on July 22. This analyst has an accuracy rate of 65%.</li>
<li>Mizuho analyst Anthony Crowdell maintained a Neutral rating and boosted the price target from $42 to $45 on May 16. This analyst has an accuracy rate of 63%.</li>
<li>Recent News: On July 26, Portland General Electric posted better-than-expected quarterly results.</li>
<li>Benzinga Pro&#8217;s real-time newsfeed alerted to<a href="https://pro.benzinga.com/dashboard"> latest POR news</a></li>
</ul>
<h3 class="wp-block-heading">ALLETE, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALE#NYSE">ALE</a>)</h3>
<ul>
<li>Dividend Yield: 4.39%</li>
<li>Mizuho analyst Anthony Crowdellmaintained a Neutral rating and increased the price target from $57 to $67 on May 16. This analyst has an accuracy rate of 63%.</li>
<li>Wells Fargo analyst Sarah Akers maintained an Equal-Weight rating and raised the price target from $57 to $59 on Feb. 21. This analyst has an accuracy rate of 70%.</li>
<li>Recent News: On Aug. 1, ALLETE posted downbeat quarterly results.</li>
<li>Benzinga Pro&#8217;s charting tool helped identify the <a href="https://pro.benzinga.com/dashboard">trend in ALE's stock</a>.</li>
</ul>
<h3 class="wp-block-heading">Clearway Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CWEN#NYSE">CWEN</a>)</h3>
<ul>
<li>Dividend Yield: 6.05%</li>
<li>Morgan Stanley analyst Robert Kadupgraded the stock from Equal-Weight to Overweight and boosted the price target from $25 to $36 on July 31. This analyst has an accuracy rate of 80%.</li>
<li>Oppenheimer analyst Noah Kaye maintained an Outperform rating and raised the price target from $33 to $37 on Jan. 19. This analyst has an accuracy rate of 70%.</li>
<li>Recent News: On Aug. 1, Clearway Energy posted a decline in second-quarter sales.</li>
<li><a href="https://pro.benzinga.com/dashboard">Benzinga Pro&#8217;s signals feature</a> notified of a potential breakout in CWEN's shares.</li>
</ul>
Read More: 
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40161976/home-depot-to-rally-more-than-14-here-are-10-top-analyst-forecasts-for-monday">Home Depot To Rally More Than 14%? Here Are 10 Top Analyst Forecasts For Monday</a></li>
</ul>

<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="How to Find Dividend Stocks: Scan, Analyze, and Capture with Benzinga Pro" width="500" height="281" src="https://www.youtube.com/embed/pVF0O2lsEH4?start=1&#038;feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>

Wall Street's Most Accurate Analysts Spotlight On 3 Utilities Stocks Delivering High-Dividend Yields

ALLETE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALE#NYSE">ALE</a>) reported quarterly earnings of $0.57 per share which missed the analyst consensus estimate of $0.83 by 31.33 percent. This is a 36.67 percent decrease over earnings of $0.90 per share from the same period last year. The company reported quarterly sales of $354.500 million which missed the analyst consensus estimate of $547.000 million by 35.19 percent. This is a 33.54 percent decrease over sales of $533.400 million the same period last year.

Earnings

Earnings Misses

ALLETE Q2 2024 GAAP EPS $0.57 Misses $0.83 Estimate, Sales $354.500M Miss $547.000M Estimate

Designed to provide broad exposure to the Style Box - Small Cap Value category of the market, the WisdomTree U.S. SmallCap Dividend ETF (ARCA:DES) is a smart beta exchange traded fund launched on 06/16/2006.
<h2>What Are Smart Beta ETFs?</h2>
The ETF industry has long been dominated by products based on market cap weighted indexes, a strategy created to reflect the market or a particular market segment.
Investors who believe in market efficiency should consider market cap indexes, as they replicate market returns in a low-cost, convenient, and transparent way.
There are some investors, though, who think it&#39;s possible to beat the market with great stock selection; this group likely invests in another class of funds known as smart beta, which track non-cap weighted strategies.
By attempting to pick stocks that have a better chance of risk-return performance, non-cap weighted indexes are based on certain fundamental characteristics, or a combination of such.
While this space offers a number of choices to investors, including simplest equal-weighting, fundamental weighting and volatility/momentum based weighting methodologies, not all these strategies have been able to deliver superior results.
<h2>Fund Sponsor &amp; Index</h2>
The fund is managed by Wisdomtree, and has been able to amass over $2.06 billion, which makes it one of the larger ETFs in the Style Box - Small Cap Value. Before fees and expenses, DES seeks to match the performance of the WisdomTree U.S. SmallCap Dividend Index.
The WisdomTree U.S. SmallCap Dividend Index is a fundamentally weighted index measuring the performance of the small-capitalization segment of the US dividend-paying market.
<h2>Cost &amp; Other Expenses</h2>
Cost is an important factor in selecting the right ETF, and cheaper funds can significantly outperform their more expensive cousins if all other fundamentals are the same.
Operating expenses on an annual basis are 0.38% for DES, making it on par with most peer products in the space.
It&#39;s 12-month trailing dividend yield comes in at 2.58%.
<h2>Sector Exposure and Top Holdings</h2>
It is important to delve into an ETF&#39;s holdings before investing despite the many upsides to these kinds of funds like diversified exposure, which minimizes single stock risk. And, most ETFs are very transparent products that disclose their holdings on a daily basis.
Representing 27.60% of the portfolio, the fund has heaviest allocation to the Financials sector; Industrials and Consumer Discretionary round out the top three.
Looking at individual holdings, Organon &amp; Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ogn#NYSE">OGN</a>) accounts for about 1.57% of total assets, followed by TFS&nbsp;Financial Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tfsl#NASDAQ">TFSL</a>) and Allete Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ale#NYSE">ALE</a>).
The top 10 holdings account for about 8.19% of total assets under management.
<h2>Performance and Risk</h2>
The ETF return is roughly 9.65% and it&#39;s up approximately 17.30% so far this year and in the past one year (as of 07/31/2024), respectively. DES has traded between $26.55 and $34.83 during this last 52-week period.
The fund has a beta of 1.09 and standard deviation of 19.51% for the trailing three-year period, which makes DES a medium risk choice in this particular space. With about 595 holdings, it effectively diversifies company-specific risk.
<h2>Alternatives</h2>
WisdomTree U.S. SmallCap Dividend ETF is a reasonable option for investors seeking to outperform the Style Box - Small Cap Value segment of the market. However, there are other ETFs in the space which investors could consider.
Avantis U.S. Small Cap Value ETF (ARCA:AVUV) tracks ---------------------------------------- and the Vanguard Small-Cap Value ETF (ARCA:VBR) tracks CRSP U.S. Small Cap Value Index. Avantis U.S. Small Cap Value ETF has $13.13 billion in assets, Vanguard Small-Cap Value ETF has $29.85 billion. AVUV has an expense ratio of 0.25% and VBR charges 0.07%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Style Box - Small Cap Value.
<a href="https://www.zacks.com/stock/news/2312604/is-wisdomtree-u-s-smallcap-dividend-etf-des-a-strong-etf-right-now?cid=CS-BENZ-FT-smart_beta_etf-2312604">To read this article on Zacks.com click here.</a>

Mizuho analyst Anthony Crowdell maintains ALLETE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALE#NYSE">ALE</a>) with a Neutral and raises the price target from $57 to $67.

Mizuho Maintains Neutral on ALLETE, Raises Price Target to $67

ALLETE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALE#NYSE">ALE</a>) reported quarterly earnings of $0.88 per share which missed the analyst consensus estimate of $1.02 by 13.73 percent. This is a 13.73 percent decrease over earnings of $1.02 per share from the same period last year. The company reported quarterly sales of $403.30 million which missed the analyst consensus estimate of $504.75 million by 20.10 percent. This is a 28.61 percent decrease over sales of $564.90 million the same period last year.

ALLETE Q1 EPS $0.88 Misses $1.02 Estimate, Sales $403.30M Miss $504.75M Estimate

ALLETE, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALE#NYSE">ALE</a>) inked a deal to be acquired by a partnership led by Canada Pension Plan Investment Board and Global Infrastructure Partners for $6.2 billion,&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/b38637687/allete-enters-agreement-to-be-acquired-by-a-partnership-led-by-canada-pension-plan-investment-boar" rel="noreferrer noopener">including the assumption of debt</a>.
As per the terms, CPP Investments and GIP will acquire ALLETE for $67.00 per share in cash, representing&nbsp;an premium&nbsp;of around 19.1% to ALLETE&#8217;s closing share price on December 4, 2023, the date&nbsp;prior to&nbsp;a media article reporting that ALLETE was exploring a sale. The consideration also represents a&nbsp;22.1%&nbsp;premium to the 30-day volume weighted average share price&nbsp;prior to&nbsp;that date.
The acquisition,&nbsp;which was&nbsp;unanimously approved by the Board of Directors, is expected to close in mid-2025, subject to customary closing conditions.&nbsp;
Post&nbsp;deal-completion, ALLETE&#8217;s shares will no longer trade on the New York Stock&nbsp;Exchange,&nbsp;and&nbsp;will&nbsp;become a private company.
&#8220;Our &#8216;Sustainability-in-Action&#8217; strategy has secured ALLETE&#8217;s place as a clean-energy leader. Through this transaction with CPP Investments and GIP, we will have access to the capital we need while keeping our customers, communities and co-workers at the forefront of all that we do, with continuity of our day-to-day operations, strategy and shared purpose and values,&#8221; said ALLETE Chair, President, and Chief Executive Officer Bethany Owen.
Bayo Ogunlesi, GIP&#8217;s Chairman and Chief Executive&nbsp;Officer&nbsp;said, &#8220;GIP, alongside CPP Investments, look forward to partnering to provide ALLETE with additional capital so they can continue to decarbonize their business to benefit the customers and communities they serve. Bringing together ALLETE, with its demonstrated commitment to clean energy, with GIP, one of the world&#8217;s premier developers of renewable power, furthers our commitment to serve growing market needs for affordable, carbon-free and more secure sources of energy.&#8221;
In&nbsp;Februrary, ALLETE&nbsp;reported fourth-quarter FY23 EPS&nbsp;of $0.89&nbsp;missing&nbsp;the consensus of&nbsp;$0.97&nbsp;and&nbsp;sales of&nbsp;$402.70&nbsp;million&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/02/b37207600/allete-inc-reports-2023-earnings-of-4-30-per-share-clean-energy-transition-drives-4-3-billion-capi" rel="noreferrer noopener">missed the estimate of $425.30 million</a>.
Investors can gain exposure to the stock via&nbsp;VictoryShares US Small Cap High Div Volatility Wtd ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSB#NASDAQ">CSB</a>) and&nbsp;Affinity World Leaders Equity ETF Hypatia Women CEO ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WCEO#NYSE">WCEO</a>).
Price Action: ALE shares are down 1.27% at $63.46 at the last check Monday.
Image sourced from Shutterstock

ALLETE Enters Agreement To Be Acquired By A Partnership Led By Canada Pension Plan Investment Board And Global Infrastructure Partners For $67/Share In Cash; Acquisition Expected To Close In Mid 2025

<a href="https://www.ft.com/content/f5bcc266-8ee4-4b21-842c-6cc0d2c678e0">https://www.ft.com/content/f5bcc266-8ee4-4b21-842c-6cc0d2c678e0</a>
&nbsp;

Financial Times Yesterday Reported 'GIP And CPP Near $5bn Deal For Utility Group Allete'

ABCL

ADEA

ALLE

AMPL

ANDE

AROC

AVNS

AXSM

BTCY

BYON

CAMT

CMTG

CRNT

CSGP

DBRG

DFIN

ENLC

ENVX

ESRT

ETRN

EXPD

FANG

GATO

GMED

HALO

HCKT

ILPT

INST

JBGS

KEYS

LAND

LGIH

MATX

MFIN

MIDD

MTDR

MTTR

NXRT

PANW

QUAD

SEDG

SEVN

SKWD

SMMT

SPNS

SPNT

TCMD

TDOC

Earnings Scheduled For February 20, 2024

ALLETE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALE#NYSE">ALE</a>) reported quarterly earnings of $0.89 per share which missed the analyst consensus estimate of $0.97 by 8.25 percent. This is a 1.11 percent decrease over earnings of $0.90 per share from the same period last year. The company reported quarterly sales of $402.70 million which missed the analyst consensus estimate of $425.30 million by 5.31 percent. This is a 5.43 percent decrease over sales of $425.80 million the same period last year.

ALLETE Q4 EPS $0.89 Misses $0.97 Estimate, Sales $402.70M Miss $425.30M Estimate

ALLETE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALE#NYSE">ALE</a>) reported its Q4 earnings results on Tuesday, February 20, 2024 at 06:15 AM.
Here's what investors need to know about the announcement.
<h3>Earnings</h3>
ALLETE missed estimated earnings by 8.25%, reporting an EPS of $0.89 versus an estimate of $0.97.
Revenue was down $23.10 million from the same period last year.
<h3>Past Earnings Performance</h3>
Last quarter the company beat on EPS by $0.81 which was followed by a 0.82% drop in the share price the next day.
Here's a look at ALLETE's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.68</td>
<td>0.78</td>
<td>1.18</td>
<td>1.15</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.49</td>
<td>0.90</td>
<td>1.02</td>
<td>0.90</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>397.25M</td>
<td>378.53M</td>
<td>394.75M</td>
<td>404.81M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>378.80M</td>
<td>533.40M</td>
<td>564.90M</td>
<td>425.80M</td>
</tr>
</tbody>
</table>

New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Guidance</h3>
ALLETE management provided guidance for FY 2024, expecting earnings between $3.6 and $3.9 per share.
To track all earnings releases for ALLETE <a href="https://www.benzinga.com/quote/ALE/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ALLETE: Q4 Earnings Insights

ALLETE, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALE#NYSE">ALE</a>) today initiated its 2024 earnings&nbsp;guidance&nbsp;range of&nbsp;$3.60&nbsp;to&nbsp;$3.90&nbsp;per share on net income of&nbsp;$210&nbsp;million&nbsp;to&nbsp;$225 million. This&nbsp;guidance&nbsp;range is comprised of our Regulated Operations segment earnings within a range of&nbsp;$2.65&nbsp;to&nbsp;$2.85&nbsp;per share, and ALLETE Clean Energy and Corporate and Other operations earnings within a range of&nbsp;$0.95&nbsp;to&nbsp;$1.05&nbsp;per share.
&nbsp;
The Company also updated its five-year capital expenditure plan to&nbsp;$4.3 billion, which is a&nbsp;$1 billion&nbsp;increase from its previous five-year plan. The plan includes increased capital investments in renewable and transmission projects, and the Company expects this capital expenditure plan to drive multi-year earnings growth beginning in 2025, in line with its stated financial objectives.

Guidance

Allete, Inc Initiated 2024 Earnings Guidance of $3.60-$3.90 Vs $4.08 Est

ALLETE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALE#NYSE">ALE</a>) is set to give its latest quarterly earnings report on Tuesday, 2024-02-20. Here's what investors need to know before the announcement.
Analysts estimate that ALLETE will report an earnings per share (EPS) of $0.97. 
ALLETE bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Past Earnings Performance</h3>
Last quarter the company beat EPS by $0.81, which was followed by a 0.82% drop in the share price the next day.
Here's a look at ALLETE's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.68</td>
<td>0.78</td>
<td>1.18</td>
<td>1.15</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.49</td>
<td>0.90</td>
<td>1.02</td>
<td>0.90</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-0.82%</td>
<td>-0.56%</td>
<td>0.47%</td>
<td>2.99%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1708358509_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of ALLETE were trading at $58.71 as of February 15. Over the last 52-week period, shares are down 5.18%. Given that these returns are generally negative, long-term shareholders are likely a little upset going into this earnings release. 
<a href="https://www.benzinga.com/quote/ALE/earnings">To track all earnings releases for ALLETE visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Outlook For ALLETE

Allete Raises Quarterly Dividend On Company's Common Stock To $0.705 Per Share Depicting 4.1% Increase; On An Annual Basis Increased Dividend Is Equivalent To $2.82 Per Share; Company Says Regular Quarterly Dividend Is Payable Mar. 1

Guggenheim analyst Shahriar Pourreza upgrades ALLETE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALE#NYSE">ALE</a>) from Sell to Neutral and announces $58 price target.

Upgrades

Guggenheim Upgrades ALLETE to Neutral, Announces $58 Price Target

Sidoti &amp; Co. analyst Brian Russo downgrades ALLETE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALE#NYSE">ALE</a>) from Buy to Neutral and announces $64 price target.

Downgrades

Sidoti & Co. Downgrades ALLETE to Neutral, Announces $64 Price Target

Contracts

ALLETE Inked Development Agreements For The North Plains Connector Project For Advancing New HVDC transmission Line In North Dakota And Montana

As of Dec. 12, 2023, five stocks in the utilities sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#39;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#39;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi"> RSI is above 70</a>, according to <a href="https://pro.benzinga.com/"> Benzinga Pro</a>.
Here&rsquo;s the latest list of major overbought players in this sector.
<h3>Genie Energy Ltd. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gne#NYSE">GNE</a>)</h3>
<ul>
<li>On Nov. 6, Genie Energy reported a year-over-year increase in third-quarter revenue results and raised FY23 adjusted EBITDA guidance. Michael Stein, chief executive officer of Genie Energy, commented, &quot;Our third quarter results were highlighted by record quarterly revenue and the strong bottom-line performance of our domestic energy supply business.&quot; The company&rsquo;s stock jumped around 14% over the past month and has a <a href="https://www.benzinga.com/quote/GNE">52-week high of $27.33 </a>.</li>
<li>RSI Value: 74.02</li>
<li>GNE Price Action: Shares of Genie Energy gained 3.1% to close at $27.32 on Monday.</li>
</ul>
<h3>DTE Energy Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dte#NYSE">DTE</a>)</h3>
<ul>
<li>On Nov. 1, DTE Energy reported worse-than-expected Q3 earnings results and lowered FY23 operating EPS guidance below estimates. &ldquo;This year we were faced with unprecedented headwinds which impacted our 2023 operating EPS guidance, but through the incredible work of our highly engaged team, DTE continues to be in a good position to offset the majority of the challenges and continue to deliver for our customers, our community and our investors,&rdquo; Jerry Norcia, DTE Energy Chairman and CEO, said. The company&rsquo;s stock gained around 13% over the past month and <a href="https://www.benzinga.com/quote/DTE"> has a 52-week high </a> of $122.41.</li>
<li>RSI Value: 75.23</li>
<li>DTE Price Action: Shares of DTE Energy gained 1.4% to close at $110.09 on Monday.</li>
</ul>
<h3>ALLETE, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ale#NYSE">ALE</a>)</h3>
<ul>
<li>Allete is reportedly exploring selling the company after registering a 2% year-over-year decline in sales in the last reported quarter. The company&rsquo;s stock jumped around 9% over the past five days and has a <a href="https://www.benzinga.com/quote/ALE"> 52-week high </a> of $66.93.</li>
<li>RSI Value: 73.46</li>
<li>ALE Price Action: Shares of ALLETE fell 0.2% to close at $61.20 on Monday.</li>
</ul>
<h3>National Grid plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ngg#NYSE">NGG</a>)</h3>
<ul>
<li>On Nov. 9, National Grid posted a decline in H1 EPS. The company&rsquo;s stock gained around 11% over the past month and has a 52-week high is $74.48.</li>
<li>RSI Value: 72.24</li>
<li>NGG Price Action: Shares of National Grid gained 0.4% to close at $67.77 on Monday.</li>
</ul>
<h3>Duke Energy Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/duk#NYSE">DUK</a>)</h3>
<ul>
<li>On Nov. 2, Duke Energy posted upbeat third-quarter earnings. The company&rsquo;s stock jumped around 10% over the past month and <a href="https://www.benzinga.com/quote/DUK"> has a 52-week high </a> of $106.43.</li>
<li>RSI Value: 76.18</li>
<li>DUK Price Action: Shares of Duke Energy gained 1% to close at $95.36 on Monday.</li>
</ul>
&nbsp;
Read More: <a href="https://www.benzinga.com/news/earnings/23/12/36171134/how-to-earn-500-a-month-from-vail-resorts-stock-after-q1-earnings-report"> How To Earn $500 A Month From Vail Resorts Stock After Q1 Earnings Report </a>

Short Ideas

Pre-Market Outlook

Top 5 Utilities Stocks That Should Keep You Up At Night

Allete, Inc.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ale#NYSE">ALE</a>) is reportedly exploring selling the company after registering a 2% year-over-year decline in sales in&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/23/11/b35558037/allete-inc-reports-third-quarter-earnings-of-1-49-per-share-raises-full-year-2023-earnings-guidanc" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">the last reported quarter.</a>
The company is working with&nbsp;JP Morgan Chase &amp; Co.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jpm#NYSE">JPM</a>) on the sale process, which has attracted suitors that include infrastructure funds and buyout firms, according to a news report by Reuters, citing unnamed people familiar with the matter.
However, the report added that no deal is sure as of now.
Headquartered in Duluth, Minnesota, Allete has 150,000 electricity customers in northern Minnesota, 15,000 electricity customers, 13,000 natural gas customers, and 10,000 water customers in northwestern Wisconsin.
As at the end of Q3, the company had a long-term debt of $1.686 billion.
Read Next:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/12/36107946/why-ev-giant-nio-stock-is-gaining-today" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Why EV Giant NIO Stock Is Gaining Today</a>
Price Action:&nbsp;ALE shares closed higher by 8.02% to $60.76 on Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Media

General

Allete Mulls Sale After Recent Q3 Revenue Dip, Attracts Infrastructure Funds: Report

ALLETE Non-GAAP EPS of $0.86 misses by $0.06, revenue of $354.5M misses by $192.5M

Allete wins $700M federal grant for North Plains Connector transmission project

Dividend Champion, Contender, And Challenger Highlights: Week Of August 11

Catalyst Watch: Eyes on Jackson Hole, Target earnings, and Canadian rails disruption

RSPU: Utilities Sector Dashboard For August

Allete (ALE) has provided an update. ALLETE, Inc. shareholders showed strong support during a special meeting, with 76% representation, approving a...

Get Our Top Trade Ideas Delivered Daily - 65% Off Now

Get Our Top Trade Ideas Delivered Daily - 65% Off Now

Comments

ALLETE

ALLETE (ALE) Forecast

ALLETE (NYSE:ALE) Stock, Quote.Headers.trade-ideas