How to Buy Allete Stock
Allete Inc
Allete is a diversified utility company located in Minnesota, United States, which is part of the Utilities sector, and is traded under the ticker ALE on the NYSE exchange.
Allete stock last closed at $63.48, up 0.13% from the previous day, and has increased 16.31% in one year. It has overperformed other stocks in the Utilities - Diversified industry by 0.08 percentage points. Allete stock is currently +28.79% from its 52-week low of $49.29, and -3.61% from its 52-week high of $65.86.
There are currently 57.75M shares of ALE outstanding. The market capitalization of ALE is $3.67B. In the past 24 hours, 210,072 ALE shares were traded.
How to Buy Allete Stock
Not sure how to invest in Allete stock? Here's how.
- Figure out where to buy Allete stock: You need to decide on an online brokerage, but don't worry - we've tried dozens of online stock brokerages and apps to help you figure out where to buy Allete stock.
- Open a brokerage account: Sign up for 0% commission trading with the highest-rated brokerage we've found.
- Fund your brokerage account: Select your payment method and add your information.
- Evaluate Allete stock: The Allete ticker symbol is ALE. Is Allete stock a good investment? Should you buy shares of ALE? How do ALE's underlying business fundamentals look? Do top analysts think Allete is a good buy? Why has ALE's stock price moved recently? (Hint: Our stock market research tools can help you evaluate if ALE is a good stock to buy).
- Place your ALE buy order: Decide if you will purchase ALE shares at the current market price or use a limit order to purchase ALE shares at a specific price.
- Get updates on your ALE position: Create a watchlist to get live updates on your investment in Allete stock.
Step 1: Figure out where to buy Allete stock
You will need an online brokerage account to access the NYSE market and buy ALE shares.
Our preferred brokerage: eToro
Based on our experience, eToro is the best online stock brokerage. eToro gives you:
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- Social investing: eToro has a community with more than 20 million users globally. Talk to, learn from, and copy the unique crypto portfolios of top investors.
- Security: eToro is a regulated and licensed brokerage platform.
- Buy other assets: Such as ETFs and cryptocurrencies.
Get $10 towards your purchase of shares by signing up for an account with eToro today.
Open eToro AccountStep 2: Open a brokerage account
Now that you've picked the best brokerage, you need to fill out some personal information so you are able to buy ALE today.
How to Create a New Brokerage Account on eToro
- Click here to get started.eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
- Provide your personal data to start a new brokerage account.
- Submit your information by clicking the "Create Account" button. Get started with eToro today
Step 3: Fund your brokerage account
Now that you've opened your account on app for investing, your next step is to transfer the money for your investment:
Check out the video below to see the process of depositing funds into your brokerage account.
Step 4: Evaluate Allete stock
After you have selected the best place to buy Allete stock, it's absolutely critical to analyze their stock before you buy, so you truly wrap your head around the risk as well as the opportunity.
Allete stock data
ALE Zen Score
WallStreetZen was designed to help average investors do better fundamental analysis quickly.
You can see all of the due diligence checks on ALE's stock page.
Is ALE stock undervalued?
Analysts use a variety of different financial metrics, analyses, models, and charts to gauge ALE's true value.
Using relative valuations measures:
- ALE may be undervalued based on its P/E ratio of 16.49x, relative to Utilities - Diversified industry P/E ratio of -10.9x
- ALE may be undervalued based on its P/B ratio of 1.3x, relative to Utilities - Diversified industry P/B ratio of 1.7x
- ALE may be overvalued based on its PEG ratio of 8.91x
You can access more valuation analysis on ALE's stock here.
ALE Financial Health Summary
Positive Financial Indicators:
- Total ALE debt is lower than 5 years ago, relative to shareholder equity.
- ALE's operating cash flow of $430.20M allows it to safely service it's debt of $1.79B.
- ALE profit margin has gone up from 10.2% to 14.4% in the past year.
- There are more short-term assets than short-term liabilities on the ALE balance sheet.
Negative Financial Indicators:
- ALE has a relatively high debt to equity ratio of 1.16.
- There are more long-term liabilities than short-term assets on the ALE balance sheet.
- ALE earnings of $334.20M is not enough to cover its interest payments.
Do Wall Street analysts think it's a good time to buy Allete stock
Out of 1 Wall Street analysts who track ALE, the consensus analyst rating on ALE is a Hold
It's important to note that analyst forecasts are not stock recommendations, nor are they financial advice.
You can dive deeper into what analysts are projecting on the Allete stock forecast page.
ALE Technical Indicators
Is ALE Making Money?
Last year, ALE earnings were $221.10M. Over the past five year, ALE's earnings have gone up by 0.21% per year. This was slower than the Utilities - Diversified industry average of 6.16%.
Last year, ALE revenue was $1.54B. In the last 5 year, ALE's revenue has grown by 1.29% per year. This was slower than the Utilities - Diversified industry average of 8.18%.
You can analyze ALE's earnings and revenue performance here.
Who is buying/selling ALE?
In the past 12 months, executives and large shareholders at ALE have sold more shares than they have bought.
Patrick L. Cutshall, VP Treasurer of ALE, was the latest ALE insider to sell. They sold $106,797.00 worth of ALE shares on Feb 7, 2024.
Dig into more about who owns ALE shares here.
Does ALE provide a stable income stream?
Allete pays a dividend of 4.4%, compared to the Utilities - Diversified industry's average dividend yield of 4.55%. If you owned $1,000 of ALE stock, you would have received $43.99 last year.
Allete dividend payments have consistently grown over the past decade and have remained stable.
Get more analysis about Allete dividend yield and history here.
What do other traders have to say about ALE?
One of the primary reasons eToro is our favorite brokerage is because of its social trading community.
Click below to see what other community members have to say.
Step 5: Place your ALE buy order
You have two primary order types:
- Market order: A market order is an order to buy or sell a stock at the best possible price.
Market orders are usually sufficient. - Limit order: A limit order lets you buy or sell a security at a specific price (or better).
If you want to be certain you're buying or selling at a given price, use a limit order.
Press the Open button and eToro will execute your order.
If you want additional help with investing in stocks on eToro, watch the how to video below:
Step 6: Get updates on your ALE position
Now that you own some ALE shares, you'll want to stay up-to-date on your new investment.
Add ALE to a watchlist to track your ALE stock.
ALE Feed
How to Buy Stock in Allete
To reiterate, here are the 6 steps to buy Allete stock:
- Figure out where to buy Allete stock
- Open a brokerage account
- Fund your brokerage account
- Evaluate Allete stock
- Place your ALE buy order
- Get updates on your ALE position
If you are looking for a place to buy stocks, eToro is our recommended option.
Get Started with eToro TodayIf you would like to keep track of your new investment in Allete, add ALE to your watchlist by clicking the button below.
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