ALLETE (ALE) Stock Forecast, Price Target & Predictions

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ALE Stock Forecast

ALLETE stock forecast is as follows: an average price target of $58.00 (represents a -10.08% downside from ALE’s last price of $64.50) and a rating consensus of 'Buy', based on 12 wall street analysts offering a 1-year stock forecast.

ALE Price Target

The average price target for ALLETE (ALE) is $58.00 based on 1-year price targets from 12 Wall Street analysts in the past 3 months, with a price target range of $58.00 to $58.00. This represents a potential -10.08% downside from ALE's last price of $64.50.

ALE Analyst Ratings

Buy

According to 12 Wall Street analysts, ALLETE's rating consensus is 'Buy'. The analyst rating breakdown for ALE stock is 0 'Strong Buy' (0.00%), 8 'Buy' (66.67%), 4 'Hold' (33.33%), 0 'Sell' (0.00%), and 0 'Strong Sell' (0.00%).

ALLETE Price Target by Analyst

Date	Analyst	Company	Price Target	Price when Published	Price Target/Price when Published	Price Target/Last Closing Price
Jan 22, 2024	Shahriar Pourreza	Guggenheim	$58.00	$59.34	-2.26%	-10.08%

The latest ALLETE stock forecast, released on Jan 22, 2024 by Shahriar Pourreza from Guggenheim, set a price target of $58.00, which represents a -2.26% decrease from the stock price at the time of the forecast ($59.34), and a -10.08% decrease from ALE last price ($64.50).

ALLETE Price Target by Period

	1M	3M	12M
# Anlaysts	-	-	1
Avg Price Target	-	-	$58.00
Last Closing Price	$64.50	$64.50	$64.50
Upside/Downside	-100.00%	-100.00%	-10.08%

In the current month, the average price target of ALLETE stock is -, according to 0 Wall Street analyst offering twelve months forecast. The average price target represents a -100.00% decrease as opposed to ALLETE's last price of $64.50. This month's average price target is down NaN% compared to last quarter, and down -100.00% compared to last year.

Analyst Ratings Upgrades/Downgrades

Date	Company	Previous Rating	New Rating	Rating Change
Jan 22, 2024	Guggenheim		Neutral	Upgrade
Oct 04, 2023	Wells Fargo	Equal-Weight	Equal-Weight	Hold
Apr 06, 2023	Keefe, Bruyette & Woods		Underperform	Downgrade
Apr 06, 2023	Argus Research		Buy	Upgrade
Apr 06, 2023	Imperial Capital		Outperform	Upgrade
Apr 06, 2023	Wedbush		Outperform	Upgrade
Apr 06, 2023	Piper Sandler		Overweight	Upgrade
Apr 06, 2023	Citigroup		Buy	Upgrade
Apr 06, 2023	Exane BNP Paribas		Neutral	Downgrade
Apr 06, 2023	Raymond James		Market Perform	Downgrade
Apr 06, 2023	Wolfe Research		Outperform	Upgrade
Apr 06, 2023	Sidoti & Co.		Buy	Upgrade
Nov 14, 2022	Bank of America Securities		Buy	Upgrade

ALLETE's last stock rating was published by Guggenheim on Jan 22, 2024. The company Upgrade its ALE rating from "null" to "Neutral".

ALLETE Financial Forecast

ALLETE Revenue Forecast

	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23	Dec 22	Sep 22	Jun 22	Mar 22	Dec 21	Sep 21	Jun 21	Mar 21	Dec 20	Sep 20	Jun 20	Mar 20	Dec 19	Sep 19	Jun 19	Mar 19	Mar 18	Mar 17
Revenue	-	-	-	-	-	-	-	-	-	$378.80M	$533.40M	$564.90M	$425.80M	$388.30M	$373.10M	$383.50M	$399.00M	$345.40M	$335.60M	$339.20M	$320.40M	$293.90M	$243.20M	$311.60M	$304.60M	$288.30M	$290.40M	$357.20M	$358.20M	$365.60M
Avg Forecast	$499.80M	$434.90M	$425.30M	$456.30M	$413.54M	$390.64M	$547.24M	$581.26M	$425.21M	$397.11M	$446.41M	$394.57M	$404.89M	$353.18M	$342.82M	$353.25M	$327.65M	$300.20M	$282.90M	$318.00M	$300.65M	$292.90M	$290.75M	$330.75M	$356.60M	$305.75M	$349.00M	$364.00M	$354.58M	$354.29M
High Forecast	$499.80M	$434.90M	$425.30M	$456.30M	$413.54M	$390.64M	$547.24M	$581.26M	$425.21M	$399.36M	$446.41M	$394.57M	$404.89M	$353.18M	$342.82M	$353.25M	$327.65M	$300.20M	$282.90M	$318.00M	$300.65M	$292.90M	$290.75M	$330.75M	$356.60M	$305.75M	$349.00M	$364.00M	$425.50M	$425.15M
Low Forecast	$499.80M	$434.90M	$425.30M	$456.30M	$413.54M	$390.64M	$547.24M	$581.26M	$425.21M	$394.86M	$446.41M	$394.57M	$404.89M	$353.18M	$342.82M	$353.25M	$327.65M	$300.20M	$282.90M	$318.00M	$300.65M	$292.90M	$290.75M	$330.75M	$356.60M	$305.75M	$349.00M	$364.00M	$283.67M	$283.43M
# Analysts	1	1	1	1	1	1	1	1	1	2	1	1	1	1	1	1	1	1	1	1	1	15	9	9	16	8	10	16	18	20
Surprise %	-	-	-	-	-	-	-	-	-	0.95%	1.19%	1.43%	1.05%	1.10%	1.09%	1.09%	1.22%	1.15%	1.19%	1.07%	1.07%	1.00%	0.84%	0.94%	0.85%	0.94%	0.83%	0.98%	1.01%	1.03%

ALLETE's average Quarter revenue forecast for Dec 23 based on 1 analysts is $425.21M, with a low forecast of $425.21M, and a high forecast of $425.21M. ALE's average Quarter revenue forecast represents a 12.25% increase compared to the company's last Quarter revenue of $378.80M (Sep 23).

ALLETE EBITDA Forecast

	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23	Dec 22	Sep 22	Jun 22	Mar 22	Dec 21	Sep 21	Jun 21	Mar 21	Dec 20	Sep 20	Jun 20	Mar 20	Dec 19	Sep 19	Jun 19	Mar 19	Mar 18	Mar 17
# Analysts	1	1	1	1	1	1	1	1	1	2	1	1	1	1	1	1	1	1	1	1	1	15	9	9	16	8	10	16	18	20
EBITDA	-	-	-	-	-	-	-	-	-	$147.80M	$92.80M	$122.10M	$106.40M	$98.30M	$94.30M	$123.80M	$132.30M	$99.90M	$101.70M	$117.90M	$111.40M	$108.20M	$84.60M	$126.80M	$116.80M	$101.10M	$97.10M	$142.50M	$111.50M	$131.40M
Avg Forecast	$154.84M	$134.74M	$131.76M	$141.37M	$128.12M	$121.02M	$169.54M	$155.75M	$131.73M	$123.03M	$138.30M	$141.59M	$134.95M	$105.56M	$86.41M	$105.58M	$97.93M	$89.72M	$84.55M	$128.72M	$89.86M	$87.54M	$86.90M	$112.47M	$106.58M	$91.38M	$104.31M	$118.14M	$110.36M	$127.21M
High Forecast	$154.84M	$134.74M	$131.76M	$141.37M	$128.12M	$121.02M	$169.54M	$186.90M	$131.73M	$123.73M	$138.30M	$169.91M	$161.94M	$105.56M	$103.69M	$105.58M	$97.93M	$89.72M	$84.55M	$154.46M	$89.86M	$87.54M	$86.90M	$134.96M	$106.58M	$91.38M	$104.31M	$141.77M	$132.43M	$152.65M
Low Forecast	$154.84M	$134.74M	$131.76M	$141.37M	$128.12M	$121.02M	$169.54M	$124.60M	$131.73M	$122.33M	$138.30M	$113.27M	$107.96M	$105.56M	$69.13M	$105.58M	$97.93M	$89.72M	$84.55M	$102.97M	$89.86M	$87.54M	$86.90M	$89.97M	$106.58M	$91.38M	$104.31M	$94.51M	$88.29M	$101.77M
Surprise %	-	-	-	-	-	-	-	-	-	1.20%	0.67%	0.86%	0.79%	0.93%	1.09%	1.17%	1.35%	1.11%	1.20%	0.92%	1.24%	1.24%	0.97%	1.13%	1.10%	1.11%	0.93%	1.21%	1.01%	1.03%

1 analysts predict ALE's average Quarter EBITDA for Dec 23 to be $131.73M, with a high of $131.73M and a low of $131.73M. This is -10.87% lower than ALLETE's previous annual EBITDA (Sep 23) of $147.80M.

ALLETE Net Income Forecast

	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23	Dec 22	Sep 22	Jun 22	Mar 22	Dec 21	Sep 21	Jun 21	Mar 21	Dec 20	Sep 20	Jun 20	Mar 20	Dec 19	Sep 19	Jun 19	Mar 19	Mar 18	Mar 17
# Analysts	1	1	1	1	1	1	1	1	1	2	1	1	1	1	1	1	1	1	1	1	1	15	9	9	16	8	10	16	18	20
Net Income	-	-	-	-	-	-	-	-	-	$85.90M	$51.50M	$37.60M	$37.20M	$26.80M	$20.80M	$46.50M	$48.60M	$27.60M	$27.90M	$51.80M	$47.10M	$40.70M	$20.10M	$66.30M	$49.70M	$31.20M	$34.20M	$70.50M	$51.00M	$49.00M
Avg Forecast	$62.53M	$46.32M	$48.06M	$57.32M	$64.56M	$57.61M	$51.53M	$68.43M	$56.05M	$37.63M	$45.84M	$62.21M	$63.14M	$40.58M	$29.24M	$83.23M	$63.58M	$40.81M	$30.06M	$56.55M	$43.12M	$37.11M	$35.72M	$58.81M	$53.32M	$36.65M	$39.30M	$58.45M	$50.48M	$47.44M
High Forecast	$62.53M	$46.32M	$48.06M	$57.32M	$69.48M	$58.33M	$51.53M	$82.11M	$56.05M	$43.72M	$45.84M	$74.65M	$75.77M	$40.58M	$35.09M	$83.56M	$63.58M	$40.81M	$30.06M	$67.86M	$43.12M	$37.11M	$35.72M	$70.57M	$53.32M	$36.65M	$39.30M	$70.14M	$60.58M	$56.92M
Low Forecast	$62.53M	$46.32M	$48.06M	$57.32M	$59.64M	$56.89M	$51.53M	$54.74M	$56.05M	$33.76M	$45.84M	$49.77M	$50.51M	$40.58M	$23.40M	$82.90M	$63.58M	$40.81M	$30.06M	$45.24M	$43.12M	$37.11M	$35.72M	$47.04M	$53.32M	$36.65M	$39.30M	$46.76M	$40.38M	$37.95M
Surprise %	-	-	-	-	-	-	-	-	-	2.28%	1.12%	0.60%	0.59%	0.66%	0.71%	0.56%	0.76%	0.68%	0.93%	0.92%	1.09%	1.10%	0.56%	1.13%	0.93%	0.85%	0.87%	1.21%	1.01%	1.03%

ALLETE's average Quarter net income forecast for Dec 23 is $56.05M, with a range of $56.05M to $56.05M. ALE's average Quarter net income forecast represents a -34.75% decrease compared to the company's last Quarter net income of $85.90M (Sep 23).

ALLETE SG&A Forecast

	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23	Dec 22	Sep 22	Jun 22	Mar 22	Dec 21	Sep 21	Jun 21	Mar 21	Dec 20	Sep 20	Jun 20	Mar 20	Dec 19	Sep 19	Jun 19	Mar 19	Mar 18	Mar 17
# Analysts	1	1	1	1	1	1	1	1	1	2	1	1	1	1	1	1	1	1	1	1	1	15	9	9	16	8	10	16	18	20
SG&A	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Avg Forecast	$2.88M	$2.51M	$2.45M	$2.63M	$2.38M	$2.25M	$3.16M	$3.35M	$2.45M	$2.29M	$2.57M	$2.28M	$2.34M	$2.04M	$1.98M	$2.04M	$1.89M	$1.73M	$1.63M	$1.83M	$1.73M	$1.69M	$1.68M	$1.91M	$2.06M	$1.76M	$2.01M	$2.10M	$2.04M	$2.04M
High Forecast	$2.88M	$2.51M	$2.45M	$2.63M	$2.38M	$2.25M	$3.16M	$3.35M	$2.45M	$2.30M	$2.57M	$2.28M	$2.34M	$2.04M	$1.98M	$2.04M	$1.89M	$1.73M	$1.63M	$1.83M	$1.73M	$1.69M	$1.68M	$1.91M	$2.06M	$1.76M	$2.01M	$2.10M	$2.45M	$2.45M
Low Forecast	$2.88M	$2.51M	$2.45M	$2.63M	$2.38M	$2.25M	$3.16M	$3.35M	$2.45M	$2.28M	$2.57M	$2.28M	$2.34M	$2.04M	$1.98M	$2.04M	$1.89M	$1.73M	$1.63M	$1.83M	$1.73M	$1.69M	$1.68M	$1.91M	$2.06M	$1.76M	$2.01M	$2.10M	$1.64M	$1.63M
Surprise %	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-

ALLETE's average Quarter SG&A projection for undefined is $NaN, based on undefined Wall Street analysts, with a range of $NaN to $NaN. The forecast indicates a NaN% fall compared to ALE last annual SG&A of $NaN (undefined).

ALLETE EPS Forecast

	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23	Dec 22	Sep 22	Jun 22	Mar 22	Dec 21	Sep 21	Jun 21	Mar 21	Dec 20	Sep 20	Jun 20	Mar 20	Dec 19	Sep 19	Jun 19	Mar 19	Mar 18	Mar 17
# Analysts	1	1	1	1	1	1	1	1	1	2	1	1	1	1	1	1	1	1	1	1	1	15	9	9	16	8	10	16	18	20
EPS	-	-	-	-	-	-	-	-	-	$1.50	$0.90	$0.66	$0.66	$0.47	$0.37	$0.87	$0.93	$0.53	$0.53	$0.99	$0.90	$0.78	$0.39	$1.28	$0.96	$0.60	$0.66	$1.37	$1.00	$0.97
Avg Forecast	$1.08	$0.80	$0.83	$0.99	$1.11	$0.99	$0.89	$0.98	$0.97	$0.65	$0.79	$1.18	$1.16	$0.70	$0.63	$1.44	$1.10	$0.71	$0.52	$1.09	$0.75	$0.64	$0.62	$1.15	$0.92	$0.63	$0.68	$1.17	$0.97	$0.91
High Forecast	$1.08	$0.80	$0.83	$0.99	$1.20	$1.01	$0.89	$0.98	$0.97	$0.76	$0.79	$1.18	$1.16	$0.70	$0.63	$1.45	$1.10	$0.71	$0.52	$1.09	$0.75	$0.64	$0.62	$1.15	$0.92	$0.63	$0.68	$1.17	$1.16	$1.09
Low Forecast	$1.08	$0.80	$0.83	$0.99	$1.03	$0.98	$0.89	$0.98	$0.97	$0.58	$0.79	$1.18	$1.16	$0.70	$0.63	$1.43	$1.10	$0.71	$0.52	$1.09	$0.75	$0.64	$0.62	$1.15	$0.92	$0.63	$0.68	$1.17	$0.78	$0.73
Surprise %	-	-	-	-	-	-	-	-	-	2.31%	1.14%	0.56%	0.57%	0.67%	0.59%	0.60%	0.85%	0.75%	1.02%	0.91%	1.21%	1.21%	0.63%	1.12%	1.04%	0.95%	0.97%	1.18%	1.03%	1.07%

According to 1 Wall Street analysts, ALLETE's projected average Quarter EPS for Dec 23 is $0.97, with a low estimate of $0.97 and a high estimate of $0.97. This represents a -35.46% decrease compared to ALE previous annual EPS of $1.50 (Sep 23).

ALLETE Peer Comparison by Price Target

Ticker	Company	Last Closing Price	Avg Price Target	Upside/Downside	Avg Rating
AES	AES	$12.87	$21.50	67.06%	Buy
MNTK	Montauk Renewables	$3.95	$6.25	58.23%	Hold
BIP	Brookfield Infrastructure Partners	$32.49	$40.00	23.11%	Buy
NWE	NorthWestern	$52.25	$60.50	15.79%	Buy
CIG	Companhia Energética de Minas Gerais	$1.90	$2.10	10.53%	Buy
AVA	Avista	$36.74	$40.00	8.87%	Hold
OTTR	Otter Tail	$76.36	$81.00	6.08%	Hold
BKH	Black Hills	$60.06	$57.00	-5.09%	Hold
UTL	Unitil	$55.94	$53.00	-5.26%	Buy
ALE	ALLETE	$64.68	$58.00	-10.33%	Buy

ALE Forecast FAQ

Is ALLETE a good buy?

Yes, according to 12 Wall Street analysts, ALLETE (ALE) is considered a 'Buy'. The rating consensus is based on 0 'Strong Buy' and 8 'Buy' recommendations, accounting for 66.67% of ALE's total ratings.

What is ALE's price target?

ALLETE (ALE) average price target is $58 with a range of $58 to $58, implying a -10.08% from its last price of $64.5. The data is based on 12 Wall Street analysts who provided a twelve-month price target estimate in the last three months.

Will ALLETE stock go up soon?

According to Wall Street analysts' prediction for ALE stock, the company can go down by -10.08% (from the last price of $64.5 to the average price target of $58), down by -10.08% based on the highest stock price target, and down by -10.08% based on the lowest stock price target.

Can ALLETE stock reach $100?

ALE's average twelve months analyst stock price target of $58 does not support the claim that ALLETE can reach $100 in the near future.

What are ALLETE's analysts' financial forecasts?

ALLETE's analysts financial forecasts for the fiscal year (Dec 2024) are as follows: average revenue is $1.93B (high $1.93B, low $1.93B), average EBITDA is $574.43M (high $605.58M, low $543.28M), average net income is $242.13M (high $261.46M, low $222.8M), average SG&A $11.15M (high $11.15M, low $11.15M), and average EPS is $3.98 (high $4.08, low $3.89). ALE's analysts financial forecasts for the fiscal year (Dec 2025) are as follows: average revenue is $1.82B (high $1.82B, low $1.82B), average EBITDA is $562.71M (high $562.71M, low $562.71M), average net income is $214.23M (high $214.23M, low $214.23M), average SG&A $10.47M (high $10.47M, low $10.47M), and average EPS is $3.7 (high $3.7, low $3.7).

Did the ALE's actual financial results beat the analysts' financial forecasts?

Based on ALLETE's last annual report (Dec 2022), the company's revenue was $1.57B, beating the average analysts forecast of $1.45B by 8.02%. Apple's EBITDA was $422.9M, missing the average prediction of $432.49M by -2.22%. The company's net income was $131.3M, missing the average estimation of $216.19M by -39.27%. Apple's SG&A was $0, missing the average forecast of $8.39M by -100.00%. Lastly, the company's EPS was $2.51, missing the average prediction of $3.93 by -36.18%. In terms of the last quarterly report (Sep 2023), ALLETE's revenue was $378.8M, missing the average analysts' forecast of $397.11M by -4.61%. The company's EBITDA was $147.8M, beating the average prediction of $123.03M by 20.13%. ALLETE's net income was $85.9M, beating the average estimation of $37.63M by 128.28%. The company's SG&A was $0, missing the average forecast of $2.29M by -100.00%. Lastly, the company's EPS was $1.5, beating the average prediction of $0.65 by 130.80%