Welcome to our dedicated page for Allete news (Ticker: ALE), a resource for investors and traders seeking the latest updates and insights on Allete stock.
This page provides historical news coverage for ALLETE, Inc. (formerly NYSE: ALE), an energy company headquartered in Duluth, Minnesota. ALLETE’s public communications describe a business built around regulated utilities and energy subsidiaries, including Minnesota Power, Superior Water, Light and Power of Wisconsin, ALLETE Clean Energy, BNI Energy, New Energy Equity and an equity interest in American Transmission Co.
News about ALLETE has covered several key themes: its acquisition by an entity jointly owned by Canada Pension Plan Investment Board and Global Infrastructure Partners, regulatory approvals from the Minnesota Public Utilities Commission and the Public Service Commission of Wisconsin, and the resulting transition from a publicly traded company to a privately held subsidiary of Alloy Parent LLC. Articles also document commitments made to Minnesota Power customers and communities, such as a one‑year base rate freeze, rate credits, customer assistance funds and a Clean Firm Technology Fund.
Investors and researchers can review past earnings announcements, dividend declarations, financing activities and regulatory milestones that shaped ALLETE’s trajectory prior to and through the closing of the merger on December 15, 2025. Coverage includes quarterly earnings releases, segment performance for Regulated Operations, ALLETE Clean Energy and New Energy Equity, as well as updates on transaction‑related expenses and settlement agreements with the Minnesota Department of Commerce.
Because ALLETE’s common stock has been delisted from the New York Stock Exchange and deregistered with the SEC, the ALE symbol now represents a historical record rather than an active listing. This news archive helps contextualize the company’s evolution, ownership change and long‑term commitments to regulated utility service and clean‑energy investments.
ALLETE, Inc. (NYSE:ALE) has announced a definitive agreement to acquire New Energy Equity LLC, a leading solar developer, for approximately $165.5 million. Based in Annapolis, Maryland, New Energy Equity has completed over 250 solar projects and offers extensive solar operations and maintenance services. This acquisition aims to enhance ALLETE's solar capabilities and align with its sustainability strategy, targeting an annual growth objective of 5-7%. The deal is anticipated to close mid-April 2022 and is expected to be accretive to earnings in 2023, providing long-term growth and cash flow.
ALLETE, Inc. (NYSE: ALE) reported 2021 earnings of $3.23 per share, down from $3.35 in 2020, with a net income of $169.2 million on operating revenue of $1.4 billion. The results included a 16 cent gain from the sale of part of the Nemadji Trail Energy Center, offset by 10 cents in losses from the Diamond Spring wind facility due to winter storms, and a 7 cent charge linked to refunds ordered by the Minnesota Public Utilities Commission. ALLETE’s strategic emphasis on clean energy positions it strongly for 2022 and beyond.
ALLETE, Inc. (NYSE: ALE) has appointed Steve Morris as the new Senior Vice President and Chief Financial Officer, succeeding Robert Adams, who plans to retire in June. Morris has been with the company for 21 years, serving as Vice President and Chief Accounting Officer since 2016. He is expected to leverage his extensive experience to enhance ALLETE's strategic vision, especially in clean energy initiatives. Morris’s promotion marks a significant leadership transition as the company aims to drive forward its sustainability goals in the energy sector.
ALLETE, Inc. (NYSE: ALE) has announced a 3% increase in its quarterly dividend, now set at 65 cents per share. This move reflects the board's confidence in the company's growth outlook. The annualized dividend now totals $2.60 per share, payable on March 1 to shareholders of record by February 15, 2022. With over 72 consecutive years of dividends paid, ALLETE continues to demonstrate its commitment to returning value to shareholders.
ALLETE, Inc. (NYSE:ALE) has appointed Susan K. Nestegard as lead director, following the retirement of board members Heidi E. Jimmerson and Kathryn W. Dindo. Nestegard, a board member since 2018, brings extensive leadership experience, having previously held senior roles at Ecolab and 3M, and is committed to sustainability. Jimmerson has served since 2004 and contributed significantly during her tenure, while Dindo has served since 2009. The changes aim to enhance governance and support ALLETE's strategic growth in the energy sector.
ALLETE Inc. (NYSE:ALE) will announce its 2021 financial results on February 16, 2022, before market opening. Following the announcement, company leaders including CEO Bethany M. Owen and CFO Robert J. Adams will host a conference call at 10 a.m. ET to discuss the results and 2022 earnings guidance. The call can be accessed by phone or through a live webcast on ALLETE’s website. A replay will be available until February 23, 2022.
ALLETE (NYSE: ALE) announces the retirement of Robert Adams, Senior VP and CFO, planned for June 2022. Adams has been with the company for over 35 years, contributing significantly to ALLETE's diversification and clean-energy initiatives. His leadership saw the strategic acquisition and sale of U.S. Water Services, and positioned ALLETE as a leading investor in renewable energy among North American utilities. The company is now seeking a new CFO, expected to be appointed by February 2022.
ALLETE, Inc. (NYSE: ALE) reported Q3 2021 earnings of 53 cents per share with a net income of $27.6 million, down from 78 cents per share and $40.7 million in the same quarter last year. The decline is attributed to increased operating expenses and higher property taxes, despite higher kilowatt-hour sales and industrial margins. ALLETE Clean Energy experienced a net loss of $800,000 due to lower wind resource availability. For 2021, full year results are expected between $3.00 to $3.30 per share, with improved earnings projected for 2022.
Minnesota Power, a utility division of ALLETE (NYSE: ALE), is requesting an annual revenue increase of $108 million from the Minnesota Public Utilities Commission (MPUC), representing an 18% hike for retail electric customers. This adjustment aims to address rising expenses and evolving customer energy demands amid its EnergyForward clean energy transition. If approved, a typical residential bill will rise by $15 monthly. Minnesota Power is committed to achieving a 100% carbon-free energy goal by 2050 while maintaining competitively priced rates.
ALLETE, Inc. (NYSE: ALE) has declared a quarterly dividend of
FAQ
What is the current stock price of Allete (ALE)?
What is the market cap of Allete (ALE)?
