Allete stock hits 52-week high at 66.42 USD

Published 14/07/2025, 15:26
Allete stock hits 52-week high at 66.42 USD

Allete Inc (NYSE:ALE)’s stock reached a 52-week high, hitting 66.42 USD, marking a significant milestone for the company. With a market capitalization of $3.85 billion and an attractive 4.42% dividend yield, the utility company has demonstrated remarkable stability with a beta of 0.77. This peak comes amidst a 1-year total return of 8.73%, reflecting the company’s steady performance over the past year. The Minnesota-based energy company has been navigating the evolving energy landscape, and this recent stock performance highlights investor confidence in its strategic direction. According to InvestingPro, the company has maintained dividend payments for 55 consecutive years, demonstrating exceptional financial stability. As Allete continues to adapt and innovate, the stock’s recent high underscores its resilience and potential for future growth in the energy sector. InvestingPro analysis indicates the stock is currently trading near its Fair Value.

In other recent news, ALLETE, Inc. has announced that its board of directors declared a quarterly dividend of 73 cents per share on its common stock, maintaining consistency with the previous quarter. This dividend, scheduled to be paid on June 1, 2025, demonstrates the company’s ongoing commitment to providing returns to its shareholders. In another significant development, the Minnesota Department of Commerce has expressed support for the proposed acquisition of ALLETE by Canada Pension Plan Investment Board and Global Infrastructure Partners. The transaction includes customer benefits such as a one-year base rate freeze for Minnesota Power customers and a slight reduction in the company’s Return on Equity. Additionally, the agreement establishes a $50 million Clean Firm Technology Fund to support local energy transition projects. The acquisition has already received approvals from various regulatory bodies and remains subject to approval by the Minnesota Public Utilities Commission. ALLETE has also committed to retaining its workforce and maintaining its headquarters in Duluth, Minnesota.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.