Allete Inc Stock Price, News & Analysis

ALLETE (NYSE:ALE) will announce its third-quarter 2025 financial results before markets open on Friday, October 31, 2025.

ALLETE is an energy company headquartered in Duluth, Minnesota, operating electric utilities Minnesota Power and Superior Water, Light and Power; ALLETE Clean Energy; BNI Energy; New Energy Equity; and holding an 8% equity interest in American Transmission Co. More information and investor resources are available at www.allete.com. For investor inquiries call 218-723-3952 or email shareholder@allete.com.

ALLETE (NYSE: ALE) announced the Minnesota Public Utilities Commission unanimously approved its acquisition by CPP Investments and Global Infrastructure Partners. With regulatory approvals complete, the transaction is expected to close in late 2025 following the MPUC written order.

The agreement delivers approximately $200 million in Minnesota Power customer benefits, including a one-year base rate freeze, $50 million in additional rate credits, a $10 million Long-term Residential Energy Bill Mitigation Fund, up to $3.5 million arrearage forgiveness, and an immediate ROE reduction from 9.78% to 9.65% with a cap of 9.78% through Dec 31, 2030. The deal preserves ALLETE headquarters in Duluth and current leadership; ALLETE shares will cease trading on the NYSE upon closing.

ALLETE (NYSE: ALE) reported Q2 2025 earnings of $0.55 per share on net income of $31.9 million, compared to $0.57 per share on net income of $33.0 million in Q2 2024. The quarter included $3.4 million in after-tax transaction expenses related to the announced merger with CPP Investments and GIP.

The company's Regulated Operations segment recorded net income of $23.0 million, down from $33.7 million year-over-year, primarily due to lower industrial customer margins and higher expenses. ALLETE Clean Energy's net income decreased to $0.9 million from $2.4 million, while New Energy Equity's net income declined to $4.7 million from $7.7 million.

The company expects the proposed merger transaction to close in 2025, subject to Minnesota Public Utilities Commission approval. Total operating revenue increased to $360.3 million from $354.5 million in Q2 2024.

ALLETE (NYSE:ALE) has announced its quarterly dividend declaration of $0.73 per share of common stock. The dividend will be payable on September 1, 2025, to shareholders of record as of August 15, 2025. On an annual basis, this dividend amounts to $2.92 per share, remaining unchanged from the previous quarter.

ALLETE is an energy company headquartered in Duluth, Minnesota, operating through multiple subsidiaries including Minnesota Power, Superior Water, Light and Power of Wisconsin, ALLETE Clean Energy, BNI Energy, and New Energy Equity. The company also maintains an 8% equity stake in American Transmission Co.

ALLETE (NYSE: ALE) has reached a significant settlement agreement with the Minnesota Department of Commerce regarding its proposed acquisition by CPP Investments and Global Infrastructure Partners (GIP). The Department has determined the acquisition is "consistent with the public interest" and recommends approval by the Minnesota Public Utilities Commission.

The agreement includes several key benefits: a one-year customer base rate freeze, ROE reduction from 9.78% to 9.65%, establishment of a $50 million Clean Firm Technology Fund, and guaranteed funding for the company's five-year capital plan. The deal ensures ALLETE's headquarters will remain in Duluth, with current CEO Bethany Owen and management team staying in place. The transaction, expected to close in 2025, has already received approvals from ALLETE shareholders, FERC, and Wisconsin PSC.

ALLETE Inc. (NYSE:ALE), an energy company headquartered in Duluth, Minnesota, has scheduled its second quarter 2025 financial results announcement for Thursday, August 07, 2025, before market open.

The company operates through multiple subsidiaries including Minnesota Power, Superior Water, Light and Power of Wisconsin, ALLETE Clean Energy, BNI Energy, and New Energy Equity. Additionally, ALLETE holds an 8% equity stake in the American Transmission Co.

ALLETE (NYSE: ALE) reported Q1 2025 earnings of $0.97 per share on net income of $56.1 million, up from $0.88 per share on $50.7 million in Q1 2024. The quarter included $2.1 million in merger-related transaction expenses. Minnesota Power experienced lower margins from industrial customers, particularly in taconite sales, while ALLETE Clean Energy's net income increased to $7.4 million from $3.8 million. New Energy Equity showed strong growth with net income rising to $9.2 million from $4.0 million. The company's planned partnership with Canada Pension Plan Investment Board and Global Infrastructure Partners is progressing, with key approvals received and final Minnesota Public Utilities Commission approval expected in 2025. Minnesota Power aims to achieve 90% renewable energy by 2035.

ALLETE (NYSE: ALE) has announced its board of directors has declared a quarterly dividend of $0.73 per share of common stock. The dividend, which amounts to $2.92 per share on an annual basis, remains unchanged from the previous quarter. The payment is scheduled for June 1, 2025, with a record date of May 15, 2025.

ALLETE is an energy company based in Duluth, Minnesota, operating through several subsidiaries including Minnesota Power, Superior Water, Light and Power of Wisconsin, ALLETE Clean Energy, BNI Energy, and New Energy Equity. The company also maintains an 8% equity stake in American Transmission Co.

ALLETE (NYSE: ALE) has scheduled its first quarter 2025 financial results announcement for Thursday, May 08, 2025, before market open. The company, headquartered in Duluth, Minnesota, operates as an energy with diverse holdings including electric utilities Minnesota Power and Superior Water, Light and Power of Wisconsin. ALLETE's portfolio also encompasses ALLETE Clean Energy, BNI Energy, New Energy Equity, and an 8% stake in the American Transmission Co.