Intrinsic value of Allete - ALE

Previous Close

$76.99

  Intrinsic Value

$8.96

stock screener

  Rating & Target

str. sell

-88%

Previous close

$76.99

 
Intrinsic value

$8.96

 
Up/down potential

-88%

 
Rating

str. sell

We calculate the intrinsic value of ALE stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 4.0

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  1,448
  1,481
  1,519
  1,562
  1,609
  1,661
  1,718
  1,779
  1,845
  1,916
  1,991
  2,072
  2,158
  2,250
  2,347
  2,450
  2,558
  2,674
  2,795
  2,924
  3,059
  3,202
  3,353
  3,511
  3,679
  3,855
  4,040
  4,235
  4,440
  4,656
Variable operating expenses, $m
  1,205
  1,233
  1,264
  1,299
  1,337
  1,380
  1,426
  1,476
  1,530
  1,588
  1,627
  1,693
  1,763
  1,838
  1,918
  2,002
  2,090
  2,185
  2,284
  2,389
  2,500
  2,616
  2,739
  2,869
  3,006
  3,150
  3,301
  3,460
  3,628
  3,804
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  1,205
  1,233
  1,264
  1,299
  1,337
  1,380
  1,426
  1,476
  1,530
  1,588
  1,627
  1,693
  1,763
  1,838
  1,918
  2,002
  2,090
  2,185
  2,284
  2,389
  2,500
  2,616
  2,739
  2,869
  3,006
  3,150
  3,301
  3,460
  3,628
  3,804
Operating income, $m
  242
  248
  255
  263
  272
  281
  292
  303
  315
  328
  364
  379
  395
  412
  429
  448
  468
  489
  511
  535
  560
  586
  613
  642
  673
  705
  739
  775
  812
  852
EBITDA, $m
  435
  445
  457
  470
  484
  499
  516
  535
  555
  576
  599
  623
  649
  676
  706
  736
  769
  804
  840
  879
  920
  963
  1,008
  1,056
  1,106
  1,159
  1,215
  1,273
  1,335
  1,400
Interest expense (income), $m
  68
  81
  85
  89
  93
  98
  103
  109
  116
  123
  130
  138
  147
  156
  166
  177
  188
  200
  212
  225
  239
  254
  270
  286
  303
  322
  341
  361
  382
  405
  428
Earnings before tax, $m
  161
  164
  167
  170
  174
  178
  182
  187
  192
  198
  226
  232
  238
  245
  253
  260
  268
  277
  286
  295
  305
  316
  327
  339
  351
  364
  378
  392
  408
  423
Tax expense, $m
  43
  44
  45
  46
  47
  48
  49
  51
  52
  53
  61
  63
  64
  66
  68
  70
  72
  75
  77
  80
  82
  85
  88
  92
  95
  98
  102
  106
  110
  114
Net income, $m
  118
  119
  122
  124
  127
  130
  133
  137
  140
  144
  165
  169
  174
  179
  184
  190
  196
  202
  209
  216
  223
  231
  239
  247
  256
  266
  276
  286
  298
  309

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  5,189
  5,308
  5,445
  5,598
  5,767
  5,954
  6,156
  6,376
  6,612
  6,866
  7,138
  7,427
  7,736
  8,064
  8,411
  8,780
  9,170
  9,583
  10,019
  10,479
  10,965
  11,477
  12,017
  12,586
  13,185
  13,816
  14,480
  15,179
  15,914
  16,687
Adjusted assets (=assets-cash), $m
  5,189
  5,308
  5,445
  5,598
  5,767
  5,954
  6,156
  6,376
  6,612
  6,866
  7,138
  7,427
  7,736
  8,064
  8,411
  8,780
  9,170
  9,583
  10,019
  10,479
  10,965
  11,477
  12,017
  12,586
  13,185
  13,816
  14,480
  15,179
  15,914
  16,687
Revenue / Adjusted assets
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
Average production assets, $m
  3,971
  4,062
  4,167
  4,284
  4,414
  4,556
  4,711
  4,879
  5,060
  5,255
  5,462
  5,684
  5,920
  6,171
  6,437
  6,719
  7,018
  7,334
  7,667
  8,020
  8,391
  8,783
  9,197
  9,632
  10,091
  10,573
  11,082
  11,616
  12,179
  12,771
Working capital, $m
  -19
  -19
  -20
  -20
  -21
  -22
  -22
  -23
  -24
  -25
  -26
  -27
  -28
  -29
  -31
  -32
  -33
  -35
  -36
  -38
  -40
  -42
  -44
  -46
  -48
  -50
  -53
  -55
  -58
  -61
Total debt, $m
  1,568
  1,639
  1,720
  1,811
  1,912
  2,022
  2,142
  2,272
  2,413
  2,563
  2,724
  2,896
  3,079
  3,273
  3,479
  3,698
  3,929
  4,174
  4,433
  4,706
  4,994
  5,297
  5,618
  5,955
  6,310
  6,684
  7,078
  7,493
  7,928
  8,387
Total liabilities, $m
  3,077
  3,148
  3,229
  3,319
  3,420
  3,531
  3,651
  3,781
  3,921
  4,072
  4,233
  4,404
  4,587
  4,782
  4,988
  5,207
  5,438
  5,683
  5,941
  6,214
  6,502
  6,806
  7,126
  7,463
  7,819
  8,193
  8,587
  9,001
  9,437
  9,895
Total equity, $m
  2,112
  2,160
  2,216
  2,278
  2,347
  2,423
  2,506
  2,595
  2,691
  2,795
  2,905
  3,023
  3,148
  3,282
  3,423
  3,573
  3,732
  3,900
  4,078
  4,265
  4,463
  4,671
  4,891
  5,122
  5,366
  5,623
  5,893
  6,178
  6,477
  6,792
Total liabilities and equity, $m
  5,189
  5,308
  5,445
  5,597
  5,767
  5,954
  6,157
  6,376
  6,612
  6,867
  7,138
  7,427
  7,735
  8,064
  8,411
  8,780
  9,170
  9,583
  10,019
  10,479
  10,965
  11,477
  12,017
  12,585
  13,185
  13,816
  14,480
  15,179
  15,914
  16,687
Debt-to-equity ratio
  0.740
  0.760
  0.780
  0.790
  0.810
  0.830
  0.850
  0.880
  0.900
  0.920
  0.940
  0.960
  0.980
  1.000
  1.020
  1.030
  1.050
  1.070
  1.090
  1.100
  1.120
  1.130
  1.150
  1.160
  1.180
  1.190
  1.200
  1.210
  1.220
  1.230
Adjusted equity ratio
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  118
  119
  122
  124
  127
  130
  133
  137
  140
  144
  165
  169
  174
  179
  184
  190
  196
  202
  209
  216
  223
  231
  239
  247
  256
  266
  276
  286
  298
  309
Depreciation, amort., depletion, $m
  193
  197
  201
  206
  212
  218
  225
  232
  240
  248
  234
  244
  254
  265
  276
  288
  301
  315
  329
  344
  360
  377
  395
  413
  433
  454
  476
  499
  523
  548
Funds from operations, $m
  311
  316
  323
  331
  339
  348
  358
  369
  380
  392
  399
  413
  428
  444
  461
  478
  497
  517
  538
  560
  583
  608
  634
  661
  690
  720
  752
  785
  820
  857
Change in working capital, $m
  0
  0
  0
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -3
  -3
  -3
Cash from operations, $m
  311
  317
  324
  331
  340
  349
  359
  369
  381
  393
  400
  414
  429
  445
  462
  480
  498
  518
  539
  562
  585
  610
  636
  663
  692
  722
  754
  788
  823
  860
Maintenance CAPEX, $m
  -167
  -170
  -174
  -179
  -184
  -189
  -196
  -202
  -209
  -217
  -226
  -234
  -244
  -254
  -265
  -276
  -288
  -301
  -315
  -329
  -344
  -360
  -377
  -395
  -413
  -433
  -454
  -476
  -499
  -523
New CAPEX, $m
  -79
  -91
  -104
  -117
  -130
  -143
  -155
  -168
  -181
  -194
  -208
  -222
  -236
  -251
  -266
  -282
  -299
  -316
  -334
  -352
  -372
  -392
  -413
  -435
  -459
  -483
  -508
  -535
  -563
  -592
Cash from investing activities, $m
  -246
  -261
  -278
  -296
  -314
  -332
  -351
  -370
  -390
  -411
  -434
  -456
  -480
  -505
  -531
  -558
  -587
  -617
  -649
  -681
  -716
  -752
  -790
  -830
  -872
  -916
  -962
  -1,011
  -1,062
  -1,115
Free cash flow, $m
  65
  55
  45
  35
  26
  17
  8
  -1
  -9
  -18
  -33
  -42
  -51
  -60
  -69
  -79
  -89
  -99
  -109
  -120
  -131
  -143
  -155
  -167
  -180
  -194
  -208
  -223
  -238
  -254
Issuance/(repayment) of debt, $m
  65
  71
  81
  91
  101
  110
  120
  130
  140
  150
  161
  172
  183
  194
  206
  219
  231
  245
  259
  273
  288
  304
  320
  337
  355
  374
  394
  414
  436
  459
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  2
  6
Cash from financing (excl. dividends), $m  
  65
  71
  81
  91
  101
  110
  120
  130
  140
  150
  161
  172
  183
  194
  206
  219
  231
  245
  259
  273
  288
  304
  320
  337
  355
  374
  394
  414
  438
  465
Total cash flow (excl. dividends), $m
  130
  126
  126
  126
  127
  127
  128
  129
  131
  132
  128
  130
  132
  135
  137
  140
  143
  146
  149
  153
  157
  161
  166
  170
  175
  180
  186
  192
  199
  210
Retained Cash Flow (-), $m
  -44
  -49
  -56
  -62
  -69
  -76
  -83
  -89
  -96
  -103
  -110
  -118
  -126
  -133
  -142
  -150
  -159
  -168
  -177
  -187
  -198
  -208
  -220
  -232
  -244
  -257
  -270
  -284
  -299
  -315
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  86
  77
  70
  64
  57
  51
  46
  40
  35
  29
  18
  12
  7
  1
  -4
  -10
  -16
  -22
  -28
  -34
  -41
  -47
  -54
  -61
  -69
  -76
  -84
  -93
  -100
  -105
Discount rate, %
  6.20
  6.51
  6.84
  7.18
  7.54
  7.91
  8.31
  8.72
  9.16
  9.62
  10.10
  10.60
  11.13
  11.69
  12.28
  12.89
  13.53
  14.21
  14.92
  15.67
  16.45
  17.27
  18.14
  19.04
  20.00
  21.00
  22.05
  23.15
  24.30
  25.52
PV of cash for distribution, $m
  81
  68
  58
  48
  40
  33
  26
  21
  16
  12
  6
  4
  2
  0
  -1
  -1
  -2
  -2
  -2
  -2
  -2
  -1
  -1
  -1
  -1
  -1
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  99.9

ALLETE, Inc. is an energy company. The Company's segments include Regulated Operations, ALLETE Clean Energy, Inc. (ALLETE Clean Energy), U.S. Water Services Holding Company (U.S. Water Services), and Corporate and Other. The Regulated Operations segment includes its regulated utilities, Minnesota Power, and Superior Water, Light and Power Company, and its investment in American Transmission Company LLC. The ALLETE Clean Energy segment focuses on developing, acquiring and operating clean and renewable energy projects. The U.S. Water Services provides integrated water management for industry by combining chemical, equipment, engineering and service for customized solution. As of December 31, 2016, its Corporate and Other consisted of BNI Energy, Inc. (BNI Energy), its coal mining operations in North Dakota, ALLETE Properties, LLC (ALLETE Properties), its Florida real estate investment and approximately 5,000 acres of land in Minnesota.

FINANCIAL RATIOS  of  Allete (ALE)

Valuation Ratios
P/E Ratio 24.6
Price to Sales 2.8
Price to Book 2
Price to Tangible Book
Price to Cash Flow 11.5
Price to Free Cash Flow 57.9
Growth Rates
Sales Growth Rate -9.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -7.3%
Cap. Spend. - 3 Yr. Gr. Rate -4.2%
Financial Strength
Quick Ratio 0
Current Ratio 0.1
LT Debt to Equity 72.4%
Total Debt to Equity 82.3%
Interest Coverage 4
Management Effectiveness
Return On Assets 4.4%
Ret/ On Assets - 3 Yr. Avg. 4.2%
Return On Total Capital 4.5%
Ret/ On T. Cap. - 3 Yr. Avg. 4.5%
Return On Equity 8.3%
Return On Equity - 3 Yr. Avg. 8.3%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 33.2%
EBITDA Margin - 3 Yr. Avg. 30.3%
Operating Margin 16.7%
Oper. Margin - 3 Yr. Avg. 15.8%
Pre-Tax Margin 13.1%
Pre-Tax Margin - 3 Yr. Avg. 12.9%
Net Profit Margin 11.6%
Net Profit Margin - 3 Yr. Avg. 10.7%
Effective Tax Rate 11.4%
Eff/ Tax Rate - 3 Yr. Avg. 16.2%
Payout Ratio 66.5%

ALE stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ALE stock intrinsic value calculation we used $1419.3 million for the last fiscal year's total revenue generated by Allete. The default revenue input number comes from 0001 income statement of Allete. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our ALE stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 6.2%, whose default value for ALE is calculated based on our internal credit rating of Allete, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Allete.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of ALE stock the variable cost ratio is equal to 83.3%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for ALE stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Allete.

Corporate tax rate of 27% is the nominal tax rate for Allete. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the ALE stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for ALE are equal to 274.3%.

Life of production assets of 23.3 years is the average useful life of capital assets used in Allete operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for ALE is equal to -1.3%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $2068.2 million for Allete - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 51.4 million for Allete is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Allete at the current share price and the inputted number of shares is $4.0 billion.

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COMPANY NEWS

▶ ALLETE Inc (NYSE:ALE): Will The Growth Last?   [Sep-06-18 02:54PM  Simply Wall St.]
▶ These Minnesota companies have the highest and lowest median employee pay (slideshow)   [Aug-09-18 02:27PM  American City Business Journals]
▶ Allete (ALE) Q2 Earnings Lag Estimates   [Aug-02-18 10:30AM  Zacks]
▶ Allete: 2Q Earnings Snapshot   [09:25AM  Associated Press]
▶ ALLETE Board of Directors Declares Dividend on Common Stock   [Jul-27-18 06:30AM  Business Wire]
▶ Best Dividend Stocks In NYSE   [Jun-20-18 09:02AM  Simply Wall St.]
▶ Should You Sell ALLETE Inc (NYSE:ALE) At This PE Ratio?   [May-17-18 03:07PM  Simply Wall St.]
▶ ALLETE Honored for Advancing Women in Leadership Roles   [May-07-18 12:40PM  Business Wire]
▶ Allete: 1Q Earnings Snapshot   [06:56AM  Associated Press]
▶ ALLETE Board of Directors Declares Dividend on Common Stock   [Apr-25-18 06:30AM  Business Wire]
▶ Top Dividend Picks For The Day   [Apr-13-18 09:02AM  Simply Wall St.]
▶ ALLETE to Announce First Quarter Financial Results on May 2   [Apr-04-18 06:30AM  Business Wire]
▶ New Strong Sell Stocks for March 27th   [Mar-27-18 08:21AM  Zacks]
▶ Top NYSE Dividend Paying Companies   [Mar-13-18 09:02AM  Simply Wall St.]
▶ ALLETE, Inc. to Host Earnings Call   [Feb-15-18 07:30AM  ACCESSWIRE]
▶ Allete misses 4Q profit forecasts   [06:54AM  Associated Press]
▶ Susan K. Nestegard Named to ALLETE Board of Directors   [Jan-16-18 06:30AM  Business Wire]
▶ ALLETE to Announce 2017 Financial Results on February 15   [Jan-15-18 06:30AM  Business Wire]
▶ What You Must Know About ALLETE Incs (ALE) Financial Strength   [Dec-07-17 07:03PM  Simply Wall St.]
▶ Stocks With Rising Relative Strength: Allete   [03:00AM  Investor's Business Daily]
▶ ETFs with exposure to ALLETE, Inc. : November 27, 2017   [Nov-27-17 11:54AM  Capital Cube]
▶ Is It Too Late To Buy ALLETE Inc (ALE)?   [09:00AM  Simply Wall St.]
▶ ALLETE Clean Energy Earns Yellow Ribbon Designation   [Nov-10-17 09:30AM  Business Wire]
▶ ETFs with exposure to ALLETE, Inc. : November 9, 2017   [Nov-09-17 11:45AM  Capital Cube]
▶ ALLETE, Inc. Value Analysis (NYSE:ALE) : November 1, 2017   [Nov-01-17 01:05PM  Capital Cube]
▶ ALLETE, Inc. to Host Earnings Call   [07:50AM  ACCESSWIRE]
▶ Allete beats 3Q profit forecasts   [06:42AM  Associated Press]
▶ What You Must Know About ALLETE Incs (ALE) 8.81% ROE   [Oct-27-17 02:11PM  Simply Wall St.]
▶ Four Utility Buys In A High-Priced Sector   [Sep-18-17 03:53PM  Forbes]
▶ Is There Now An Opportunity In ALLETE Inc (ALE)?   [Sep-13-17 03:25PM  Simply Wall St.]
▶ ETFs with exposure to ALLETE, Inc. : September 12, 2017   [Sep-11-17 08:16PM  Capital Cube]
▶ ETFs with exposure to ALLETE, Inc. : August 31, 2017   [Aug-31-17 05:10PM  Capital Cube]
▶ Robert P. Powers Named to ALLETE Board of Directors   [Aug-23-17 04:50PM  Business Wire]

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