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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 $56.09, down 1.01% from the previous day, and has decreased 8.33% in one year. It has underperformed other stocks in the Utilities - Diversified industry by 0 percentage points. Allete stock is currently +13.8% from its 52-week low of $49.29, and -15.89% from its 52-week high of $66.69.

There are currently 57.58M shares of ALE outstanding. The market capitalization of ALE is $3.23B. In the past 24 hours, 189,204 ALE shares were traded.

How to Buy Allete Stock

Not sure how to invest in Allete stock? Here's how.
  1. 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.
  2. Open a brokerage account: Sign up for 0% commission trading with the highest-rated brokerage we've found.
  3. Fund your brokerage account: Select your payment method and add your information.
  4. 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).
  5. 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.
  6. 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.

A brokerage account is an investment account that enables you to buy and sell a number of financial instruments, such as stocks, bonds, mutual funds, and ETFs.

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Step 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.

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  1. Click here to get started.
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  2. Provide your personal data to start a new brokerage account.
  1. Submit your information by clicking the "Create Account" button.
  2. Get started with eToro today
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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.

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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 Price
$56.09
1w %
-1.85%
1y %
-8.33%
5y %
-30.8%
P/E
13.01x
P/B
1.15x
P/S
1.71x
PEG
N/A
Revenue
$1.88B
Earnings
$247.10M
Fore. Rev. Growth
3.55%
Fore. Earn. Growth
-3.06%
Market Cap
$3.23B
Next Earnings
N/A
Next Dividend
Mar 1, 2024

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 13.01x, relative to Utilities - Diversified industry P/E ratio of 27.46x
  • ALE may be undervalued based on its P/B ratio of 1.15x, relative to Utilities - Diversified industry P/B ratio of 1.54x

You can do additional valuation research on ALE's stock here.

ALE Financial Health Summary

Positive Financial Indicators:

  • ALE's operating cash flow of $585.30M allows it to safely service it's debt of $1.79B.
  • There are more short-term assets than short-term liabilities on the ALE balance sheet.
  • ALE profit margin has gone up from 12.1% to 13.1% in the past year.
  • Total ALE debt is lower than 5 years ago, relative to shareholder equity.

Negative Financial Indicators:

  • ALE earnings of $355.80M is not enough to cover its interest payments.
  • There are more long-term liabilities than short-term assets on the ALE balance sheet.
  • ALE has a relatively high debt to equity ratio of 1.16.

Is it a good time to buy ALE stock, according to analysts?

Out of 3 sell side analysts who monitor ALE, the consensus analyst rating on ALE is a Hold

Please keep in mind that analyst forecasts are not stock recommendations, nor are they investment advice.

You can dive deeper into what analysts are saying on the Allete stock forecast page.

ALE Technicals

SMA10
57.26
SMA20
57.89
SMA50
59.54
SMA100
57.52
SMA200
57.51
MACD
-0.79
MACD Signal
-0.64
MACD Histogram
-0.15
RSI
37.82
Stochastic %K
10.43
Stochastic %D
17.07
StochRSI %K
10.2
StochRSI %D
12.4

How are ALE Revenues/Earnings doing?

Last year, ALE earnings were $247.10M. In the past 5 year, ALE's earnings have gone up by 4.92% per year. This was slower than the Utilities - Diversified industry average of 9.07%.

Last year, ALE revenue was $1.88B. Over the past five year, ALE's revenue has grown by 4.64% per year. This was slower than the Utilities - Diversified industry average of 11.29%.

Dig into ALE's earnings and revenue performance here.

What are ALE insiders up to?

Over the past 12 months, insiders 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 stock here.

Can I rely on ALE as an income stream?

Allete pays a dividend of 4.88%, compared to the Utilities - Diversified industry's average dividend yield of 4.91%. If you owned $1,000 worth of ALE stock, you would have received $48.81 last year.

Allete dividend payments have consistently grown over the past decade and have remained stable.

Get more info about Allete dividend yield and history here.

What do other traders have to say about ALE?

One of the biggest reasons eToro is our top-rated brokerage is because of its social trading community.

Click below to find out what other investors have to say.

Step 5: Place your ALE buy order

There are two main types of orders:

  • Market order: A market order is an order to buy or sell a security at the best price on the market.
    Market orders are mostly sufficient.
  • Limit order: A limit order is an order to buy or sell a stock at a specific price (or better).
    If you want to be certain you're buying or selling at a particular dollar amount limit, use a limit order.

Hit the Open button and eToro will place your order.

If you need additional help with investing in stocks on eToro, watch the helpful video below:

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Step 6: Get updates on your ALE position

Now that you own some shares in ALE, you'll want to stay up-to-date on your new stock purchase.

Start a watchlist to get alerted to the latest events about your ALE stock.

ALE Feed

How to Buy Stock in Allete

To reiterate, here are the 6 steps you need to take to buy Allete stock right now:

  1. Figure out where to buy Allete stock
  2. Open a brokerage account
  3. Fund your brokerage account
  4. Evaluate Allete stock
  5. Place your ALE buy order
  6. Get updates on your ALE position

If you are looking for a brokerage, eToro is our recommended venue.

Get Started with eToro Today
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

If you want to get the latest news on your new investment in Allete, create your watchlist below.

NYSE: ALE
$56.09-0.57 (-1.01%)
Updated Feb 28, 2024
Open eToro Account
NYSE: ALE
$56.09-0.57 (-1.01%)
Updated Feb 28, 2024
Open eToro Account

FAQ

How much does it cost to buy one Allete share?

As of Feb 28, 2024, it costs $56.09 to buy one share of Allete stock.

Remember, eToro's fractional share buying allows you to buy partial shares of stocks and ETFs. Even if you only have $10, you can buy 0.178 shares of ALE.

Get Started with eToro Today
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

Is now a good time to buy Allete stock?

According to 3 Wall Street analysts who monitor Allete, their consensus recommendation is to hold Allete stock.

What is the best way to buy Allete stock?

One way to place an order for Allete stock is with a brokerage account.
WallStreetZen does not provide financial advice and does not issue recommendations or offers to buy stock or sell any security.

Information is provided 'as-is' and solely for informational purposes and is not advice. WallStreetZen does not bear any responsibility for any losses or damage that may occur as a result of reliance on this data.