FKnol.com

Financial Knowledge & Information Portal

Allete (ALE) Company Profile

Updated Aug 8, 2019
Allete has the following business profile:
Company's Full Name:Allete, Inc.
Short Name:Allete
Trading Ticker Symbol:ALE
Primary Exchange:NYSE
Headquarter City/Country:Minnesota, MN
Primary Industry Sector:Public Utilities
Seconday Sub-sector:Power Generation
Main Business Areas: Public Utilities, Power Generation, Utilities, Electric Utilities
Dividend Payments:Dividend History

Market and Trading Information for Allete

The following details were available for trading and market data about the stock of Allete as of writing:
Current Share Price:$86.51
Previous Year's Closing Price:$76.22
Percentage Price Change (YTD):13.5%
Market Cap:$4.48 billion
52-week Price Range:$72.42 - $88.58
Dividend Per Share:$2.29
EPS (TTM):3.8
Price-Earnings (Trailing):22.77
Price-Earnings (Forward):22.53

Company Profile and Business Description for Allete

ALLETE, Inc., incorporated on January 25, 1906, is an energy company. The Company's segments include Regulated Operations, ALLETE Clean Energy, Inc. (ALLETE Clean Energy), U.S. Water Services Holding Company (U.S. Water Services), and Corporate and Other. The Regulated Operations segment includes its regulated utilities, Minnesota Power, and Superior Water, Light and Power Company (SWL&P), as well as its investment in American Transmission Company LLC (ATC), a regulated utility that owns and maintains electric transmission assets in parts of Wisconsin, Michigan, Minnesota and Illinois. The ALLETE Clean Energy segment focuses on developing, acquiring and operating clean and renewable energy projects. The U.S. Water Services provides integrated water management for industry by combining chemical, equipment, engineering and service for customized solutions. As of December 31, 2016, its Corporate and Other consisted of BNI Energy, Inc. (BNI Energy), its coal mining operations in North Dakota, ALLETE Properties, LLC (ALLETE Properties), its Florida real estate investment and approximately 5,000 acres of land in Minnesota.

Regulated Operations

The Company's regulated utility operations include retail and wholesale activities under the jurisdiction of state and federal regulatory authorities. As of December 31, 2016, Minnesota Power provided regulated utility electric service in northeastern Minnesota to approximately 145,000 retail customers. SWL&P is a Wisconsin utility and a wholesale customer of Minnesota Power. As of December 31, 2016, Minnesota Power provided electric service to over six taconite customers capable of producing approximately 40 million tons of taconite pellets annually. Taconite pellets produced in Minnesota are shipped to North American steel making facilities that are part of the integrated steel industry. Steel produced from these North American facilities is used in the manufacture of automobiles, appliances, pipe and tube products for the gas and oil industry, and in the construction industry. As of December 31, 2016, Minnesota Power provided electric service to over three iron concentrate facilities capable of producing approximately four million tons of iron concentrate per year. In addition to serving the taconite industry, Minnesota Power serves a range of customers in the paper, pulp and secondary wood products industry.

As of December 31, 2016, Minnesota Power had nine power customer contracts, each serving requirements of 10 megawatts (MW) of customer load. As of December 31, 2016, SWL&P provided regulated electric, natural gas and water service in northwestern Wisconsin to approximately 15,000 electric customers, 13,000 natural gas customers and 10,000 water customers. As of December 31, 2016, Minnesota Power had 16 non-affiliated municipal customers in Minnesota. As of December 31, 2016, Minnesota Power's generating capability was primarily coal-fired, but also included approximately 172 MW of natural gas-fired and biomass co-fired generation, 120 MW of hydroelectric generation, 522 MW of nameplate capacity wind energy generation and 10 MW of solar generation. As of December 31, 2016, it had electric transmission and distribution lines of 500 kilovolts, 345 kilovolts, 250 kilovolts, 230 kilovolts, 161 kilovolts, 138 kilovolts and 115 kilovolts. As of December 31, 2016, it owned and operated 165 substations with a total capacity of 8,396 megavolt amperes.

ALLETE Clean Energy

As of December 31, 2016, ALLETE Clean Energy segment owned and operated in four states, approximately 535 megawatts of nameplate capacity wind energy generation that is from power purchase agreements (PSAs) under various durations. ALLETE Clean Energy generally acquires facilities in liquid power markets and focuses on the exploration of PSA extensions upon expiration of existing contracts. ALLETE Clean Energy is targeting acquisitions of existing facilities up to 200 MW each, which have long-term PSAs in place for the facilities' output. ALLETE Clean Energy is also targeting the development of new facilities up to 200 MW each, which will have long-term PSAs in place for the output or may be sold upon completion.

U.S. Water Services

As of December 31, 2016, U.S. Water Services was located in 49 states and Canada and had a base of approximately 4,800 customers. U.S. Water Services develops synergies between solutions in engineering, equipment and chemical water treatment, and helping customers. U.S. Water Services is a provider to the biofuels industry, and also serves the food and beverage, industrial, power generation, and midstream oil and gas industries.

Corporate and Other

As of December 31, 2016, BNI Energy was a supplier of lignite in North Dakota, producing approximately four million tons annually and had lignite reserves of an estimated 650 million tons. ALLETE Properties' projects in Florida are Town Center at Palm Coast and Palm Coast Park. In addition to the two projects, ALLETE Properties had approximately 1,100 acres of other land available-for-sale, as of December 31, 2016.

30 W SUPERIOR ST

Peer / Competitor Companies of Power Generation Sector

Along with Allete, Inc., the following other peer (competitor) companies also exist within the same Power Generation - Public Utilities sector whose company profile and dividend history is as follows:

▶ Alliant Energy (LNT): Alliant Energy Corporation (Alliant Energy), incorporated on April 22, 1981, operates as a utility holding company. The Companys segments include Utility and Non-regulated, Parent and Other. The Utility segment includes ....See Detailed Company Profile  and Dividend History.

▶ Ameren (AEE): Ameren Corporation (Ameren), incorporated on August 7, 1995, is a utility holding company. The Companys primary assets are its equity interests in its subsidiaries, including Ameren Missouri, Ameren Illinois and ....See Detailed Company Profile  and Dividend History.

▶ American DG Energy (ADGE): American DG Energy Inc., incorporated on June 13, 2003, distributes, owns and operates clean, onsite energy systems that produce electricity, hot water, heat and cooling. The Company offers natural gas-powered ....See Detailed Company Profile  and Dividend History.

▶ Avista (AVA): Avista Corporation, incorporated on March 15, 1889, is an electric and natural gas utility company. The Company operates through two segments: Avista Utilities, and Alaska Electric Light and Power Company ....See Detailed Company Profile  and Dividend History.

▶ CMS Energy (CMS): CMS Energy Corporation (CMS Energy), incorporated on February 26, 1987, is an energy company operating primarily in Michigan. The Company operates through three segments: electric utility, which consists of regulated ....See Detailed Company Profile  and Dividend History.

▶ CMS Energy (CMS^B): ....See

▶ Consolidated Edison (ED): Consolidated Edison, Inc. (Con Edison), incorporated on September 3, 1997, is a holding company. The Company operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc. (CECONY), ....See Detailed Company Profile  and Dividend History.

▶ Duke Energy (DUK): Duke Energy Corporation (Duke Energy), incorporated on May 3, 2005, is an energy company. The Company operates through three segments: Electric Utilities and Infrastructure; Gas Utilities and Infrastructure, and Commercial ....See Detailed Company Profile  and Dividend History.

▶ Duke Energy (DUKH): Duke Energy Corporation (Duke Energy), incorporated on May 3, 2005, is an energy company. The Company operates through three segments: Electric Utilities and Infrastructure; Gas Utilities and Infrastructure, and Commercial ....See Detailed Company Profile  and Dividend History.

▶ Entergy New Orleans (ENJ): Entergy New Orleans, Inc., incorporated on January 11, 1926, is an electric and gas utility company. The Company provides electric and gas service in the City of New Orleans. The ....See Detailed Company Profile  and Dividend History.

▶ Entergy New Orleans (ENO): Entergy New Orleans, Inc., incorporated on January 11, 1926, is an electric and gas utility company. The Company provides electric and gas service in the City of New Orleans. The ....See Detailed Company Profile  and Dividend History.

▶ Exelon (EXC): Exelon Corporation, incorporated on February 4, 1999, is a utility services holding company. The Company, through its subsidiary, Exelon Generation Company, LLC (Generation), is engaged in the energy generation business. ....See Detailed Company Profile  and Dividend History.

▶ Exelon (EXCU): Exelon Corporation, incorporated on February 4, 1999, is a utility services holding company. The Company, through its subsidiary, Exelon Generation Company, LLC (Generation), is engaged in the energy generation business. ....See Detailed Company Profile  and Dividend History.

▶ Genie Energy (GNE): Genie Energy Ltd. (Genie), incorporated on January 10, 2011, owns interest in its subsidiary, Genie Energy International Corporation (GEIC), which owns Genie Retail Energy (GRE) and Genie Oil and Gas, ....See Detailed Company Profile  and Dividend History.

▶ Niagara Mohawk (NMK^B): ....See

▶ Niagara Mohawk (NMK^C): ....See

▶ NiSource (NI): NiSource Inc., an energy holding company, operates as a regulated natural gas and electric utility company in the United States. The company operates in two segments, Gas Distribution Operations and E....See Detailed Company Profile  and Dividend History.

▶ NorthWestern (NWE): NorthWestern Corporation, doing business as North-Western Energy, incorporated on November 27, 1923, provides electricity and natural gas. The Companys segments are Electric operations, Natural gas operations and All other. As ....See Detailed Company Profile  and Dividend History.

▶ PG&E (PCG): PG&E Corporation, incorporated on November 17, 1995, is a holding company. The Companys primary operating subsidiary is Pacific Gas and Electric Company (the Utility), which operates in northern and central ....See Detailed Company Profile  and Dividend History.

▶ Public Serv. (PEG): Public Service Enterprise Group Incorporated (PSEG), incorporated on July 25, 1985, is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid- ....See Detailed Company Profile  and Dividend History.

... See Full List of All Stocks of Power Generation Sector.

Stock List of Other Public Utilities Sub-sectors

▶ Stocks of Sector

▶ Stocks of Electric Utilities Sector

▶ Stocks of Environmental Services Sector

▶ Stocks of Industrial Machinery and Components Sector

▶ Stocks of Natural Gas Distribution Sector

▶ Stocks of Oil and Gas Production Sector

▶ Stocks of Oil and Gas Transmission Sector

▶ Stocks of Power Generation Sector

▶ Stocks of Telecommunications Equipment Sector

▶ Stocks of Water Supply Sector


Stock List of Other Top-level Sectors

▶ Stocks of Sector

▶ Stocks of Basic Industries Sector

▶ Stocks of Basic Materials Sector

▶ Stocks of Capital Goods Sector

▶ Stocks of Communication Services Sector

▶ Stocks of Consumer Cyclical Sector

▶ Stocks of Consumer Defensive Sector

▶ Stocks of Consumer Durables Sector

▶ Stocks of Consumer Non-Durables Sector

▶ Stocks of Consumer Services Sector

▶ Stocks of Energy Sector

▶ Stocks of Finance Sector

▶ Stocks of Financial Services Sector

▶ Stocks of Health Care Sector

▶ Stocks of Industrials Sector

▶ Stocks of Miscellaneous Sector

▶ Stocks of Public Utilities Sector

▶ Stocks of Real Estate Sector

▶ Stocks of Services Sector

▶ Stocks of Technology Sector

▶ Stocks of Transportation Sector

▶ Stocks of Utilities Sector