OverviewSuggest Edit

ALLETE is a provider of competitively-priced energy in the upper Midwest, and has a strategic investment in the American Transmission Company. ALLETE's Minnesota Power electric utility serves 144,000 residents, 16 municipalities and some of the nation's largest industrial customers. Other businesses include BNI Coal in North Dakota, ALLETE Clean Energy, a developer of energy projects with limited environmental impact, and ALLETE Properties, which owns 10,000 acres of real estate in northeast Florida.
TypePublic
Founded1906
HQDuluth, US
Websiteallete.com
Employee Ratings4.5

Latest Updates

Employees (est.) (Dec 2019)1,316
Job Openings6
Revenue (FY, 2019)$1.2 B(-17%)
Share Price (Oct 2020)$52.4 (-4%)
Cybersecurity ratingBMore

Key People/Management at Allete

Alan R. Hodnik

Alan R. Hodnik

Director Hermantown, MN
Kathryn W. Dindo

Kathryn W. Dindo

Director Akron, OH
George G. Goldfarb

George G. Goldfarb

Director Duluth, MN
James J. Hoolihan

James J. Hoolihan

Director Grand Rapids, MN
Madeleine W. Ludlow

Madeleine W. Ludlow

Director Cincinnati, OH
Susan K. Nestegard

Susan K. Nestegard

Director Austin, TX
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Allete Office Locations

Allete has offices in Duluth, Bismarck and Salem
Duluth, US (HQ)
30 W Superior St
Bismarck, US
1637 Burnt Boat Dr
Salem, US
Salem, OR, USA
Show all (3)

Allete Financials and Metrics

Allete Revenue

Allete's revenue was reported to be $1.24 b in FY, 2019
USD

Revenue (Q2, 2020)

243.2m

Gross profit (Q2, 2020)

226.9m

Gross profit margin (Q2, 2020), %

93.3%

Net income (Q2, 2020)

16.9m

EBIT (Q2, 2020)

12.7m

Market capitalization (28-Oct-2020)

2.7b

Closing stock price (28-Oct-2020)

52.4

Cash (30-Jun-2020)

25.7m

EV

3.2b
Allete's current market capitalization is $2.7 b.
Annual
USDFY, 2010FY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018FY, 2019

Revenue

907.0m928.2m961.2m1.0b1.1b1.5b1.3b1.4b1.5b1.2b

Revenue growth, %

12%31%(10%)

Cost of goods sold

71.2m77.9m302.3m144.7m147.8m218.0m80.6m

Gross profit

947.2m1.1b1.2b1.2b1.3b1.3b1.2b
Quarterly
USDQ2, 2010Q3, 2010Q1, 2011Q2, 2011Q1, 2012Q2, 2012Q3, 2012Q1, 2013Q2, 2013Q3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020

Revenue

211.2m224.1m219.9m240.0m216.4m248.8m263.8m235.6m251.0m296.5m260.7m288.9m320.0m323.3m462.5m333.8m314.8m349.6m365.6m353.3m362.5m358.2m344.1m357.2m290.4m288.3m311.6m243.2m

Cost of goods sold

31.2m52.3m149.8m33.3m33.4m46.4m35.2m38.4m36.1m32.9m37.0m38.7m30.6m16.5m14.7m16.9m16.3m

Gross profit

288.8m271.0m312.7m300.5m281.4m303.2m330.4m314.9m326.4m325.3m307.1m326.6m273.9m273.6m294.7m226.9m

Gross profit Margin, %

90%84%68%90%89%87%90%89%90%91%89%91%94%95%95%93%
USDQ2, 2010

Financial Leverage

2.5 x
Show all financial metrics

Allete Cybersecurity Score

Cybersecurity ratingPremium dataset

B

84/100

SecurityScorecard logo

Allete Online and Social Media Presence

Embed Graph

Allete Blogs

ALLETE, Inc. Reports First Quarter Earnings of $1.28 Per Share

Temporarily suspending 2020 guidance due to uncertainties with COVID-19 DULUTH, Minn. --(BUSINESS WIRE)--May 6, 2020-- ALLETE, Inc. (NYSE: ALE) today reported first quarter 2020 earnings of $1.28 per share on net income of $66.3 million . Last year’s results were $1.37 per share on net income of

ALLETE Clean Energy Secures Tax Equity Funding for Its Newest Wind Site

DULUTH, Minn. --(BUSINESS WIRE)--May 5, 2020-- ALLETE Clean Energy, a wholly owned subsidiary of ALLETE (NYSE: ALE), sold Class A passive membership interests in Great American West Wind LLC to JPM Capital Corporation on April 29, 2020 , in support of the South Peak wind site in Montana .

Minnesota Power Proposes Plan to Resolve Rate Request in Response to Economic Challenges of COVID-19

Customers will receive refund on bills and lower rates under proposal to state regulators DULUTH, Minn. --(BUSINESS WIRE)--Apr. 23, 2020-- Minnesota Power , a utility division of ALLETE (NYSE: ALE), today proposed a resolution to its November 2019 rate review that would reduce customers’ monthly

ALLETE to Announce First Quarter Financial Results on May 6

DULUTH, Minn. --(BUSINESS WIRE)--Apr. 9, 2020-- ALLETE Inc. (NYSE:ALE) will announce its financial results for the first quarter before the stock markets open on Wednesday, May 6, 2020 . Following the release, ALLETE Chief Executive Officer and President Bethany M.

ALLETE Clean Energy Purchases 300-megawatt Caddo Wind Project in Oklahoma That Will Double Its Presence in the Corporate Energy Market

DULUTH, Minn. --(BUSINESS WIRE)-- ALLETE Clean Energy, a wholly owned subsidiary of ALLETE (NYSE: ALE), has acquired the Caddo wind project in Oklahoma from Apex Clean Energy , including plans to sell energy to three Fortune 500 corporate customers. The 300-megawatt Caddo site will double ALLETE

ALLETE, Inc. Reports 2019 Earnings of $3.59 Per Share; Initiates 2020 Earnings Guidance; Will Construct Significant New Clean Energy Projects In 2020

DULUTH, Minn. --(BUSINESS WIRE)--Feb. 13, 2020-- ALLETE, Inc. (NYSE: ALE) today reported 2019 earnings of $3.59 per share on net income of $185.6 million and operating revenue of $1.2 billion . Reported results from 2018 were $3.38 per share on net income of $174.1 million and operating revenue of
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Allete Frequently Asked Questions

  • When was Allete founded?

    Allete was founded in 1906.

  • Who are Allete key executives?

    Allete's key executives are Alan R. Hodnik, Kathryn W. Dindo and George G. Goldfarb.

  • How many employees does Allete have?

    Allete has 1,316 employees.

  • What is Allete revenue?

    Latest Allete annual revenue is $1.2 b.

  • What is Allete revenue per employee?

    Latest Allete revenue per employee is $942.6 k.

  • Who are Allete competitors?

    Competitors of Allete include Indianapolis Power & Light Company, Vistra and Frendy Energy.

  • Where is Allete headquarters?

    Allete headquarters is located at 30 W Superior St, Duluth.

  • Where are Allete offices?

    Allete has offices in Duluth, Bismarck and Salem.

  • How many offices does Allete have?

    Allete has 3 offices.