ALLETE (ALE) Stock Forecast, Price Target & Predictions
ALE Stock Forecast
ALLETE stock forecast is as follows: an average price target of $58.00 (represents a -9.49% downside from ALE’s last price of $64.08) 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 -9.49% downside from ALE's last price of $64.08.
ALE Analyst Ratings
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% | -9.49% |
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 -9.49% decrease from ALE last price ($64.08).
ALLETE Price Target by Period
| 1M | 3M | 12M | |
|---|---|---|---|
| # Anlaysts | - | - | 1 |
| Avg Price Target | - | - | $58.00 |
| Last Closing Price | $64.08 | $64.08 | $64.08 |
| Upside/Downside | -100.00% | -100.00% | -9.49% |
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 $64.08. 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 |
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 | Jul 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 | Dec 18 | Sep 18 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | - | $378.80M | $533.40M | $564.90M | $425.80M | $388.30M | - | $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 | $448.30M | $348.00M |
| 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 | $473.44M | $399.94M |
| 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 | $377.85M | $350.47M | $321.11M | $302.60M | $340.15M | $321.59M | $313.30M | $311.00M | $353.79M | $381.44M | $327.05M | $373.31M | $389.35M | $568.13M | $479.93M |
| 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 | $328.65M | $304.83M | $279.29M | $263.20M | $295.85M | $279.71M | $272.50M | $270.50M | $307.71M | $331.76M | $284.45M | $324.69M | $338.65M | $378.75M | $319.95M |
| # Analysts | - | - | - | - | - | 1 | 1 | - | 1 | 2 | 1 | 1 | - | - | - | - | 1 | 1 | 1 | 3 | 3 | 3 | 3 | 3 | 2 | 3 | 4 | 5 | 7 | 19 |
| Surprise % | - | - | - | - | - | - | - | - | - | 0.95% | 1.19% | 1.43% | 1.05% | 1.10% | - | 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% | 0.95% | 0.87% |
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 | Jul 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 | Dec 18 | Sep 18 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | - | - | - | - | - | 1 | 1 | - | 1 | 2 | 1 | 1 | - | - | - | - | 1 | 1 | 1 | 3 | 3 | 3 | 3 | 3 | 2 | 3 | 4 | 5 | 7 | 19 |
| EBITDA | - | - | - | - | - | - | - | - | - | $147.80M | $92.80M | $122.10M | $106.40M | $98.30M | - | $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 | $124.00M | $101.60M |
| Avg Forecast | $149.38M | $129.98M | $127.11M | $136.38M | $123.60M | $116.75M | $163.55M | $155.75M | $127.08M | $118.69M | $133.42M | $141.59M | $121.01M | $147.88M | $102.46M | $105.58M | $122.68M | $134.43M | $103.58M | $128.72M | $89.12M | $84.53M | $107.96M | $112.47M | $111.72M | $105.91M | $101.32M | $118.14M | $130.58M | $114.79M |
| High Forecast | $149.38M | $129.98M | $127.11M | $136.38M | $123.60M | $116.75M | $163.55M | $186.90M | $127.08M | $119.36M | $133.42M | $169.91M | $121.01M | $177.45M | $102.46M | $112.93M | $147.21M | $161.32M | $124.30M | $154.46M | $106.94M | $101.44M | $129.55M | $134.96M | $134.07M | $127.10M | $121.59M | $141.77M | $156.70M | $137.75M |
| Low Forecast | $149.38M | $129.98M | $127.11M | $136.38M | $123.60M | $116.75M | $163.55M | $124.60M | $127.08M | $118.01M | $133.42M | $113.27M | $121.01M | $118.30M | $102.46M | $98.22M | $98.14M | $107.55M | $82.87M | $102.97M | $71.30M | $67.63M | $86.37M | $89.97M | $89.38M | $84.73M | $81.06M | $94.51M | $104.47M | $91.84M |
| Surprise % | - | - | - | - | - | - | - | - | - | 1.25% | 0.70% | 0.86% | 0.88% | 0.66% | - | 1.17% | 1.08% | 0.74% | 0.98% | 0.92% | 1.25% | 1.28% | 0.78% | 1.13% | 1.05% | 0.95% | 0.96% | 1.21% | 0.95% | 0.89% |
1 analysts predict ALE's average Quarter EBITDA for Dec 23 to be $127.08M, with a high of $127.08M and a low of $127.08M. This is -14.02% 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 | Jul 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 | Dec 18 | Sep 18 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | - | - | - | - | - | 1 | 1 | - | 1 | 2 | 1 | 1 | - | - | - | - | 1 | 1 | 1 | 3 | 3 | 3 | 3 | 3 | 2 | 3 | 4 | 5 | 7 | 19 |
| Net Income | - | - | - | - | - | - | - | - | - | $85.90M | $51.50M | $37.60M | $37.20M | $26.80M | - | $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 | $61.10M | $30.70M |
| Avg Forecast | $71.67M | $41.62M | $43.35M | $81.50M | $59.53M | $58.96M | $51.44M | $68.43M | $55.95M | $37.56M | $45.76M | $62.21M | $67.22M | $40.85M | $36.25M | $82.94M | $57.40M | $37.14M | $28.42M | $56.55M | $37.68M | $31.80M | $25.65M | $58.81M | $47.54M | $32.69M | $35.69M | $58.45M | $64.34M | $34.69M |
| High Forecast | $71.67M | $41.62M | $43.35M | $81.50M | $59.53M | $66.82M | $51.44M | $82.11M | $55.95M | $43.64M | $45.76M | $74.65M | $67.22M | $49.03M | $36.25M | $90.45M | $68.88M | $44.57M | $34.10M | $67.86M | $45.22M | $38.16M | $30.78M | $70.57M | $57.05M | $39.22M | $42.82M | $70.14M | $77.21M | $41.62M |
| Low Forecast | $71.67M | $41.62M | $43.35M | $81.50M | $59.53M | $51.75M | $51.44M | $54.74M | $55.95M | $33.70M | $45.76M | $49.77M | $67.22M | $32.68M | $36.25M | $75.43M | $45.92M | $29.71M | $22.73M | $45.24M | $30.14M | $25.44M | $20.52M | $47.04M | $38.03M | $26.15M | $28.55M | $46.76M | $51.48M | $27.75M |
| Surprise % | - | - | - | - | - | - | - | - | - | 2.29% | 1.13% | 0.60% | 0.55% | 0.66% | - | 0.56% | 0.85% | 0.74% | 0.98% | 0.92% | 1.25% | 1.28% | 0.78% | 1.13% | 1.05% | 0.95% | 0.96% | 1.21% | 0.95% | 0.89% |
ALLETE's average Quarter net income forecast for Dec 23 is $55.95M, with a range of $55.95M to $55.95M. ALE's average Quarter net income forecast represents a -34.86% 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 | Jul 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 | Dec 18 | Sep 18 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | - | - | - | - | - | 1 | 1 | - | 1 | 2 | 1 | 1 | - | - | - | - | 1 | 1 | 1 | 3 | 3 | 3 | 3 | 3 | 2 | 3 | 4 | 5 | 7 | 19 |
| 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 | $1.70M | $1.58M | $1.45M | $1.36M | $1.53M | $1.45M | $1.41M | $1.40M | $1.59M | $1.72M | $1.47M | $1.68M | $1.75M | $2.28M | $1.93M |
| 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 | $1.82M | $1.69M | $1.55M | $1.46M | $1.64M | $1.55M | $1.51M | $1.50M | $1.71M | $1.84M | $1.58M | $1.80M | $1.88M | $2.74M | $2.31M |
| 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 | $1.58M | $1.47M | $1.35M | $1.27M | $1.43M | $1.35M | $1.31M | $1.30M | $1.48M | $1.60M | $1.37M | $1.57M | $1.63M | $1.83M | $1.54M |
| 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 | Jul 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 | Dec 18 | Sep 18 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | - | - | - | - | - | 1 | 1 | - | 1 | 2 | 1 | 1 | - | - | - | - | 1 | 1 | 1 | 3 | 3 | 3 | 3 | 3 | 2 | 3 | 4 | 5 | 7 | 19 |
| EPS | - | - | - | - | - | - | - | - | - | $1.50 | $0.90 | $0.66 | $0.66 | $0.47 | - | $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 | $1.18 | $0.59 |
| Avg Forecast | $1.24 | $0.72 | $0.75 | $1.41 | $1.03 | $1.02 | $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 | $1.19 | $0.87 |
| High Forecast | $1.24 | $0.72 | $0.75 | $1.41 | $1.03 | $1.16 | $0.89 | $0.98 | $0.97 | $0.76 | $0.79 | $1.18 | $1.16 | $0.70 | $0.63 | $1.57 | $1.20 | $0.77 | $0.57 | $1.18 | $0.81 | $0.70 | $0.67 | $1.25 | $1.01 | $0.69 | $0.74 | $1.27 | $1.43 | $1.04 |
| Low Forecast | $1.24 | $0.72 | $0.75 | $1.41 | $1.03 | $0.90 | $0.89 | $0.98 | $0.97 | $0.58 | $0.79 | $1.18 | $1.16 | $0.70 | $0.63 | $1.31 | $1.00 | $0.64 | $0.47 | $0.99 | $0.68 | $0.58 | $0.56 | $1.04 | $0.84 | $0.58 | $0.62 | $1.06 | $0.95 | $0.70 |
| Surprise % | - | - | - | - | - | - | - | - | - | 2.31% | 1.14% | 0.56% | 0.57% | 0.67% | - | 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% | 0.99% | 0.68% |
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 | $18.54 | $26.71 | 44.07% | Buy |
| MNTK | Montauk Renewables | $4.48 | $6.25 | 39.51% | Hold |
| BIP | Brookfield Infrastructure Finance ULC | $33.19 | $43.89 | 32.24% | Buy |
| CIG | Companhia Energética de Minas Gerais | $2.11 | $2.10 | -0.47% | Buy |
| AVA | Avista | $38.54 | $37.75 | -2.05% | Buy |
| BKH | Black Hills | $60.55 | $57.00 | -5.86% | Hold |
| ALE | ALLETE | $64.08 | $58.00 | -9.49% | Buy |
| NWE | NorthWestern | $55.94 | $50.40 | -9.90% | 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 -9.49% from its last price of $64.08. 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 -9.49% (from the last price of $64.08 to the average price target of $58), down by -9.49% based on the highest stock price target, and down by -9.49% 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 $559.65M (high $590.8M, low $528.5M), average net income is $238.36M (high $259.91M, low $217.47M), average SG&A $11.15M (high $11.15M, low $11.15M), and average EPS is $3.92 (high $4.06, low $3.8). 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 $542.84M (high $542.84M, low $542.84M), average net income is $238.14M (high $238.14M, low $238.14M), average SG&A $10.47M (high $10.47M, low $10.47M), and average EPS is $4.12 (high $4.12, low $4.12).
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 $476.92M by -11.33%. The company's net income was $131.3M, missing the average estimation of $227.27M by -42.23%. Apple's SG&A was $0, missing the average forecast of $8.05M 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 $118.69M by 24.53%. ALLETE's net income was $85.9M, beating the average estimation of $37.56M by 128.67%. 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%