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.
The Minnesota Public Utilities Commission has approved Minnesota Power's 15-year Integrated Resource Plan (IRP), aiming for 100% carbon-free energy by 2050. Key objectives include reducing carbon emissions by 80% by 2035 and achieving over 70% renewable energy by 2030, alongside investments in wind and solar energy. The plan will phase out coal operations at Boswell Energy Center by 2030 and 2035. Minnesota Power’s collaborative approach involved stakeholders including labor groups and local communities, ensuring a just transition for employees and host communities during this energy transformation.
ALLETE, Inc. (NYSE: ALE) reported Q3 2022 earnings of 59 cents per share on net income of $33.7 million, a rise from 53 cents and $27.6 million in Q3 2021. The Regulated Operations segment benefited from interim rate revenue at Minnesota Power. However, ALLETE Clean Energy faced challenges, recording a net loss of $7.3 million due to inflation, supply chain issues, and lower wind resources. Despite these setbacks, ALLETE expects 2022 earnings in the range of $3.60 to $3.90 per share and anticipates a strong Q4 with increasing project momentum.
ALLETE (NYSE: ALE), through its utility division Minnesota Power, is advancing its EnergyForward plan aimed at significantly increasing renewable energy provision over the next 15 years. Following an agreement with stakeholders, Minnesota Power plans to seek up to 400 megawatts of wind energy and 300 megawatts of solar energy, nearly doubling its initial proposal. The Minnesota Public Utilities Commission will review this plan during IRP proceedings, expected to conclude with a vote on Nov. 22. The initiative aligns with Minnesota Power's goal of achieving 100% carbon-free energy by 2050.
New Energy Equity, a subsidiary of ALLETE (NYSE: ALE), has announced several promotions within its executive team, effective November 4, 2022. Josh Kunkel is elevated to President, while Lindsey Gillis becomes Chief Administrative Officer, and Dean Eastlake III takes on the role of Chief Operations Officer. Other promotions include Jamie Borell as Senior VP of Land and Business Development, Eric Pasi as Senior VP of New Market Development and Marketing, and Eric Hanson as VP of Engineering and Construction. Co-founder Matt Hankey remains as CEO, emphasizing the leadership team's extensive industry experience and commitment to growth in clean energy.
ALLETE, Inc. (NYSE: ALE) has declared a quarterly dividend of 65 cents per share, maintaining an annual total of $2.60 per share. This dividend will be payable on December 1 to shareholders on record as of November 15, 2022. The company's operations include electric utilities and renewable energy services, emphasizing its commitment to shareholder value through consistent dividend payments.
ALLETE Inc. (NYSE:ALE) will release its third-quarter financial results on November 9, 2022, before market opening. Following the results, CEO Bethany M. Owen and CFO Steven W. Morris will discuss performance factors in a conference call starting at 10 a.m. Eastern time. Interested parties can listen live via ALLETE's website. ALLETE is an energy company based in Duluth, Minnesota, and operates Minnesota Power and Superior Water, Light and Power, along with ALLETE Clean Energy and other subsidiaries.
ALLETE Inc. (NYSE: ALE) announced key leadership changes to enhance its sustainability strategy. Nicole Johnson has been appointed president of ALLETE Clean Energy, while Al Rudeck becomes the safety and external affairs officer. Josh Skelton expands his role as vice president. These appointments are part of a strategic alignment to position the company for growth and to lead in clean energy. Johnson, with over 25 years at ALLETE, brings experience from her previous roles, including overseeing Human Resources and Environmental Management.
ALLETE, Inc. (NYSE: ALE) reported a second quarter 2022 earnings of 67 cents per share on a net income of $37.6 million, up from 53 cents per share and $27.9 million in 2021. Key factors included $1.6 million in transaction fees and $4 million from purchase price accounting. The regulated operations segment saw increased income largely due to interim rate implementations. The company affirmed its 2022 earnings guidance of $3.60 - $3.90 per share amidst positive performance from New Energy Equity. A conference call to discuss these results is scheduled for August 3, 2022.
The board of directors of ALLETE, Inc. (NYSE:ALE) has announced a quarterly dividend of 65 cents per share, maintaining an annual payout of $2.60 per share. This dividend will be paid on September 1 to shareholders of record as of August 15, 2022. ALLETE operates electric utilities in Minnesota and Wisconsin and owns several subsidiaries, including ALLETE Clean Energy and BNI Energy. Investors are advised to review the associated risks discussed in official filings with the Securities and Exchange Commission.
Minnesota Power (NYSE: ALE) and Great River Energy announced plans to construct a 150-mile, double-circuit 345-kV transmission line in Minnesota, enhancing grid reliability in the Upper Midwest. The project, approved by the Midcontinent Independent System Operator on July 25, is part of a broader initiative to support increased renewable energy and grid resilience. Estimated at $970 million, the transmission line will connect northern and central Minnesota, replacing existing infrastructure. The companies expect to submit necessary construction notices in August, with completion anticipated by 2030.
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