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Hot Stocks
Allete increases dividend 4.2% to 67.75c » 06:31
02/03/23
02/03
06:31
02/03/23
06:31
ALE

Allete

$63.30 /

+0.87 (+1.39%)

ALLETE announced that its…

ALLETE announced that its Board of Directors has increased the quarterly dividend on the company's common stock to 67.75c per share, a 4.2% increase. On an annual basis the increased dividend is equivalent to $2.71 per share. The regular quarterly dividend is payable Mar. 1 to common shareholders of record at the close of business Feb. 15.

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ALE Allete
$63.30 /

+0.87 (+1.39%)

ALE Allete
$63.30 /

+0.87 (+1.39%)

01/24/23 Mizuho
Allete price target lowered to $64 from $66 at Mizuho
01/23/23 Guggenheim
Guggenheim lays out 2023 utilities outlook, upgrades two, downgrades six stocks
01/23/23 Guggenheim
Allete downgraded to Sell from Neutral at Guggenheim
12/14/22 Wells Fargo
Allete price target raised to $67 from $60 at Wells Fargo
ALE Allete
$63.30 /

+0.87 (+1.39%)

  • 01
    Apr
Over a week ago
Hot Stocks
MPUC sets new rates for Allete's Minnesota Power » 16:08
01/24/23
01/24
16:08
01/24/23
16:08
ALE

Allete

$62.19 /

-0.95 (-1.50%)

The Minnesota Public…

The Minnesota Public Utilities Commission approved a rate increase of approximately $59M, or approximately 9%, that Minnesota Power, a utility division of ALLETE Inc., is allowed to recover through the base rates that it charges to residential and business electric customers. The commission also authorized a return on equity of 9.65% for the company. The decision is subject to a final written order and reconsideration. Under the MPUC decision, rates will increase by approximately 9% for all customer classes. The average residential customer's monthly bill will increase by approximately 2% above the interim rate they currently pay. The 9% increase will also apply to business and industrial customers, whose interim rate was 14%. The applicable difference between final and interim rates will be refunded to business and industrial customers. Final rates are expected to go into effect this summer. As a regulated utility, Minnesota Power must receive approval from the MPUC whenever changes in revenue or expenses require adjusting its rates. In the past 25 years, Minnesota Power has completed only three full rate reviews, and its residential customers' monthly bills are below the national average while they receive the highest percentage of renewable energy in the state. The company's last rate review filed in 2019 was withdrawn in response to the COVID-19 pandemic and its impacts on customers and the region's economy.

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ALE Allete
$62.19 /

-0.95 (-1.50%)

01/24/23 Mizuho
Allete price target lowered to $64 from $66 at Mizuho
01/23/23 Guggenheim
Guggenheim lays out 2023 utilities outlook, upgrades two, downgrades six stocks
01/23/23 Guggenheim
Allete downgraded to Sell from Neutral at Guggenheim
12/14/22 Wells Fargo
Allete price target raised to $67 from $60 at Wells Fargo
ALE Allete
$62.19 /

-0.95 (-1.50%)

  • 01
    Apr
Recommendations
Allete price target lowered to $64 from $66 at Mizuho » 06:48
01/24/23
01/24
06:48
01/24/23
06:48
ALE

Allete

$63.13 /

-0.89 (-1.39%)

Mizuho analyst Anthony…

Mizuho analyst Anthony Crowdell lowered the firm's price target on Allete to $64 from $66 and keeps a Neutral rating on the shares after the Minnesota Public Utilities Commission ruled on the Minnesota Power rate case. The decision underscores the ongoing regulatory trend around the country as regulators prioritize customer affordability and push back against bill increases, the analyst tells investors in a research note.

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ALE Allete
$63.13 /

-0.89 (-1.39%)

01/23/23 Guggenheim
Guggenheim lays out 2023 utilities outlook, upgrades two, downgrades six stocks
01/23/23 Guggenheim
Allete downgraded to Sell from Neutral at Guggenheim
12/14/22 Wells Fargo
Allete price target raised to $67 from $60 at Wells Fargo
12/09/22 Mizuho
Allete price target raised to $65 from $50 at Mizuho
ALE Allete
$63.13 /

-0.89 (-1.39%)

  • 01
    Apr
Recommendations
Guggenheim lays out 2023 utilities outlook, upgrades two, downgrades six stocks » 09:19
01/23/23
01/23
09:19
01/23/23
09:19
FE

FirstEnergy

$42.20 /

+0.295 (+0.70%)

, PCG

PG&E

$15.64 /

+0.2 (+1.30%)

, OGS

One Gas

$76.73 /

-0.095 (-0.12%)

, AEE

Ameren

$86.71 /

+0.66 (+0.77%)

, CNP

CenterPoint Energy

$30.10 /

-0.18 (-0.59%)

, OGE

OGE Energy

$38.37 /

+0.38 (+1.00%)

, ALE

Allete

$64.17 /

+0.665 (+1.05%)

, LNT

Alliant Energy

$53.93 /

+0.675 (+1.27%)

, NWE

NorthWestern Energy

$55.65 /

-0.09 (-0.16%)

Guggenheim analyst…

Guggenheim analyst Shahriar Pourreza is downgrading and upgrading some names in the utilities and power sector in conjunction with the firm's 2023 outlook, stating that it the "turbulent end to 2022 has shifted our stance on the sector and investment allocation for 2023." If an investor "had to own 1 utility in 2023," the firm contends that should be FirstEnergy (FE), which was upgraded to Buy from Neutral with a price target of $46, up from $34, and moved to the firm's Best Idea list, replacing PG&E (PCG). The firm is taking a "value" bend, as it argues that valuation dispersions "can be an opportunity for both upsides and downsides" if investors are nervous about next year's EPS numbers, long-term growth revisions, regulatory risks, and headwinds to company guidance. In that context, Guggenheim also upgraded One Gas (OGS) to Neutral from Sell with a price target of $77, up from $64. The firm downgraded three stocks to Neutral: Ameren (AEE), CenterPoint Energy (CNP), and OGE Energy (OGE). It also downgraded three to Sell: Allete (ALE), Alliant Energy (LNT), and NorthWestern Energy (NWE).

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PCG PG&E
$15.64 /

+0.2 (+1.30%)

OGS One Gas
$76.73 /

-0.095 (-0.12%)

NWE NorthWestern Energy
$55.65 /

-0.09 (-0.16%)

LNT Alliant Energy
$53.93 /

+0.675 (+1.27%)

FE FirstEnergy
$42.20 /

+0.295 (+0.70%)

CNP CenterPoint Energy
$30.10 /

-0.18 (-0.59%)

AEE Ameren
$86.71 /

+0.66 (+0.77%)

FE FirstEnergy
$42.20 /

+0.295 (+0.70%)

01/23/23 Guggenheim
FirstEnergy upgraded to Buy from Neutral at Guggenheim
01/23/23 BofA
FirstEnergy downgraded to Underperform at BofA with another EPS reset expected
01/23/23 BofA
FirstEnergy downgraded to Underperform from Neutral at BofA
10/24/22 Guggenheim
FirstEnergy price target lowered to $34 from $43 at Guggenheim
PCG PG&E
$15.64 /

+0.2 (+1.30%)

01/03/23 UBS
PG&E downgraded to Neutral from Buy at UBS
10/28/22 Citi
PG&E price target raised to $19 from $14 at Citi
10/25/22 JPMorgan
JPMorgan recommends long Edison, short PG&E pair trade into earnings
10/07/22 RBC Capital
PG&E price target raised to $19 from $16 at RBC Capital
OGS One Gas
$76.73 /

-0.095 (-0.12%)

01/23/23 Guggenheim
One Gas upgraded to Neutral from Sell at Guggenheim
01/11/23 Stifel
One Gas downgraded to Hold from Buy at Stifel
12/16/22 BofA
One Gas downgraded to Neutral at BofA after 'surprisingly sharp' reset
12/16/22 BofA
One Gas downgraded to Neutral from Buy at BofA
AEE Ameren
$86.71 /

+0.66 (+0.77%)

01/23/23 Guggenheim
Ameren downgraded to Neutral from Buy at Guggenheim
12/14/22 Wells Fargo
Ameren price target raised to $101 from $93 at Wells Fargo
10/24/22 Guggenheim
Ameren price target lowered to $84 from $99 at Guggenheim
09/09/22 BMO Capital
Ameren price target raised to $103 from $98 at BMO Capital
CNP CenterPoint Energy
$30.10 /

-0.18 (-0.59%)

01/23/23 Guggenheim
CenterPoint Energy downgraded to Neutral from Buy at Guggenheim
01/17/23 KeyBanc
CenterPoint Energy downgraded to Sector Weight from Overweight at KeyBanc
10/24/22 Guggenheim
CenterPoint Energy price target lowered to $30 from $35 at Guggenheim
OGE OGE Energy
$38.37 /

+0.38 (+1.00%)

01/23/23 Guggenheim
OGE Energy downgraded to Neutral from Buy at Guggenheim
10/24/22 Guggenheim
OGE Energy price target lowered to $38 from $43 at Guggenheim
10/13/22 Mizuho
OGE Energy price target lowered to $34 from $42 at Mizuho
09/09/22 Mizuho
OGE Energy price target raised to $42 from $39 at Mizuho
ALE Allete
$64.17 /

+0.665 (+1.05%)

01/23/23 Guggenheim
Allete downgraded to Sell from Neutral at Guggenheim
12/14/22 Wells Fargo
Allete price target raised to $67 from $60 at Wells Fargo
12/09/22 Mizuho
Allete price target raised to $65 from $50 at Mizuho
11/17/22 JPMorgan
Allete upgraded to Neutral from Underweight at JPMorgan
LNT Alliant Energy
$53.93 /

+0.675 (+1.27%)

01/23/23 Guggenheim
Alliant Energy downgraded to Sell from Neutral at Guggenheim
01/09/23 Mizuho
Alliant Energy downgraded to Neutral from Buy at Mizuho
12/14/22 Wells Fargo
Alliant Energy price target raised to $63 from $57 at Wells Fargo
12/07/22 BofA
Alliant Energy downgraded to Neutral from Buy at BofA
NWE NorthWestern Energy
$55.65 /

-0.09 (-0.16%)

01/23/23 Guggenheim
NorthWestern Energy downgraded to Sell from Neutral at Guggenheim
12/19/22 Mizuho
NorthWestern Energy price target raised to $57 from $56 at Mizuho
11/01/22 JPMorgan
NorthWestern initiated with a Neutral at JPMorgan
10/24/22 Guggenheim
NorthWestern price target lowered to $48 from $58 at Guggenheim
PCG PG&E
$15.64 /

+0.2 (+1.30%)

OGS One Gas
$76.73 /

-0.095 (-0.12%)

OGE OGE Energy
$38.37 /

+0.38 (+1.00%)

NWE NorthWestern Energy
$55.65 /

-0.09 (-0.16%)

LNT Alliant Energy
$53.93 /

+0.675 (+1.27%)

FE FirstEnergy
$42.20 /

+0.295 (+0.70%)

CNP CenterPoint Energy
$30.10 /

-0.18 (-0.59%)

ALE Allete
$64.17 /

+0.665 (+1.05%)

AEE Ameren
$86.71 /

+0.66 (+0.77%)

  • 10
    Jan
  • 13
    Dec
  • 28
    Oct
  • 05
    Oct
  • 01
    Apr
  • 01
    Feb
PCG PG&E
$15.64 /

+0.2 (+1.30%)

PCG PG&E
$15.64 /

+0.2 (+1.30%)

LNT Alliant Energy
$53.93 /

+0.675 (+1.27%)

FE FirstEnergy
$42.20 /

+0.295 (+0.70%)

PCG PG&E
$15.64 /

+0.2 (+1.30%)

FE FirstEnergy
$42.20 /

+0.295 (+0.70%)

Downgrade
Allete downgraded to Sell from Neutral at Guggenheim » 08:17
01/23/23
01/23
08:17
01/23/23
08:17
ALE

Allete

$64.17 /

+0.665 (+1.05%)

Guggenheim analyst…

Guggenheim analyst Shahriar Pourreza downgraded Allete to Sell from Neutral with a price target of $54, up from $53.

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ALE Allete
$64.17 /

+0.665 (+1.05%)

12/14/22 Wells Fargo
Allete price target raised to $67 from $60 at Wells Fargo
12/09/22 Mizuho
Allete price target raised to $65 from $50 at Mizuho
11/17/22 JPMorgan
Allete upgraded to Neutral from Underweight at JPMorgan
11/14/22 BofA
Allete upgraded to Buy at BofA on capital plan update, Minnesota decision
ALE Allete
$64.17 /

+0.665 (+1.05%)

  • 01
    Apr
Over a month ago
Recommendations
Allete price target raised to $67 from $60 at Wells Fargo » 06:43
12/14/22
12/14
06:43
12/14/22
06:43
ALE

Allete

$65.50 /

+0.145 (+0.22%)

Wells Fargo analyst Neil…

Wells Fargo analyst Neil Kalton raised the firm's price target on Allete to $67 from $60 to reflect higher peer group multiples since his last update, while keeping an Equal Weight rating on the shares. His outlook for the sector is not as bullish heading into 2023, nor is he outright bearish.

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ALE Allete
$65.50 /

+0.145 (+0.22%)

12/09/22 Mizuho
Allete price target raised to $65 from $50 at Mizuho
11/17/22 JPMorgan
Allete upgraded to Neutral from Underweight at JPMorgan
11/14/22 BofA
Allete upgraded to Buy at BofA on capital plan update, Minnesota decision
11/14/22 BofA
Allete upgraded to Buy from Neutral at BofA
ALE Allete
$65.50 /

+0.145 (+0.22%)

  • 01
    Apr
Recommendations
Allete price target raised to $65 from $50 at Mizuho » 06:35
12/09/22
12/09
06:35
12/09/22
06:35
ALE

Allete

$64.70 /

-0.05 (-0.08%)

Mizuho analyst Anthony…

Mizuho analyst Anthony Crowdell raised the firm's price target on Allete to $65 from $50 and keeps a Neutral rating on the shares after hosting meetings with management. Management highlighted opportunity for greater transmission spending due to the large buildout of renewable generation in their service territory, Crowdell tells investors in a research note. The analyst upped the target to reflect current market multiples.

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ALE Allete
$64.70 /

-0.05 (-0.08%)

11/17/22 JPMorgan
Allete upgraded to Neutral from Underweight at JPMorgan
11/14/22 BofA
Allete upgraded to Buy at BofA on capital plan update, Minnesota decision
11/14/22 BofA
Allete upgraded to Buy from Neutral at BofA
10/24/22 Guggenheim
Allete price target lowered to $53 from $66 at Guggenheim
ALE Allete
$64.70 /

-0.05 (-0.08%)

  • 01
    Apr
Upgrade
Allete upgraded to Neutral from Underweight at JPMorgan » 05:49
11/17/22
11/17
05:49
11/17/22
05:49
ALE

Allete

$64.01 /

+0.59 (+0.93%)

JPMorgan analyst Richard…

JPMorgan analyst Richard Sunderland upgraded Allete to Neutral from Underweight with an unchanged price target of $65 post the Q3 results. The analyst sees "growing tailwinds" to the company's regulated outlook. He anticipates greater utility competitiveness from the Inflation Reduction Act will improve MN Power's probability of success.

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ALE Allete
$64.01 /

+0.59 (+0.93%)

11/14/22 BofA
Allete upgraded to Buy at BofA on capital plan update, Minnesota decision
11/14/22 BofA
Allete upgraded to Buy from Neutral at BofA
10/24/22 Guggenheim
Allete price target lowered to $53 from $66 at Guggenheim
10/03/22 Mizuho
Allete price target lowered to $50 from $58 at Mizuho
ALE Allete
$64.01 /

+0.59 (+0.93%)

  • 01
    Apr
Upgrade
Allete upgraded to Buy at BofA on capital plan update, Minnesota decision » 06:22
11/14/22
11/14
06:22
11/14/22
06:22
ALE

Allete

$60.03 /

-0.405 (-0.67%)

BofA analyst Julien…

BofA analyst Julien Dumoulin-Smith upgraded Allete to Buy from Neutral with a price target of $66, up from $53. The analyst cites the company having rolled forward its long-run capital plan now targeting $2.7B in aggregate investment over 2023-2027, an increase from $1.8B in the previous iteration, which should drive inflection for its shares. Dumoulin-Smith further cites the Minnesota commission having approved Allete's enhanced Integrated Resource Plan with a "constructive settlement" reached with interveners that should add 400 MW wind and 300 MW solar within the forecast period.

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ALE Allete
$60.03 /

-0.405 (-0.67%)

11/14/22 BofA
Allete upgraded to Buy from Neutral at BofA
10/24/22 Guggenheim
Allete price target lowered to $53 from $66 at Guggenheim
10/03/22 Mizuho
Allete price target lowered to $50 from $58 at Mizuho
09/16/22 Mizuho
Allete price target lowered to $58 from $60 at Mizuho
ALE Allete
$60.03 /

-0.405 (-0.67%)

  • 01
    Apr
Upgrade
Allete upgraded to Buy from Neutral at BofA » 06:08
11/14/22
11/14
06:08
11/14/22
06:08
ALE

Allete

$60.03 /

-0.405 (-0.67%)

BofA analyst Julien…

BofA analyst Julien Dumoulin-Smith upgraded Allete to Buy from Neutral with a price target of $66, up from $53.

ShowHide Related Items >><<
ALE Allete
$60.03 /

-0.405 (-0.67%)

10/24/22 Guggenheim
Allete price target lowered to $53 from $66 at Guggenheim
10/03/22 Mizuho
Allete price target lowered to $50 from $58 at Mizuho
09/16/22 Mizuho
Allete price target lowered to $58 from $60 at Mizuho
05/25/22 BofA
BofA starts Allete at Neutral, sees balanced risk-reward
ALE Allete
$60.03 /

-0.405 (-0.67%)

  • 01
    Apr

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