ALLETENYSE: ALE

NEW YORK, June 26, 2024 (GLOBE NEWSWIRE) -- Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and is investigating ALLETE, Inc. (NYSE: ALE ) , relating to its proposed merger with a partnership led by Canada Pension Plan Investment Board and Global Infrastructure Partners. Under the terms of the agreement, ALLETE stockholders will receive $67.00 per share in cash for each share of common stock owned as of the closing of the transaction.

NEW YORK , June 24, 2024 /PRNewswire/ -- Monteverde & Associates PC (the "M&A Class Action Firm"), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and is investigating ALLETE, Inc. (NYSE: ALE) , relating to its proposed merger with a partnership led by Canada Pension Plan Investment Board and Global Infrastructure Partners.

The North Plains Connector transmission line will more than double the transfer capacity between the eastern and western U.S. electric grids, providing PGE access to new, diverse resources and bolstering reliability for customers. PORTLAND, Ore.

ASO, ALE, and AMR were included in the Zacks Rank #5 (Strong Sell) List on April 17, 2023.

ALLETE Inc. (NYSE:ALE) will report its first quarter financial results on Thursday, May 9, 2024, before the stock markets open. ALLETE Chair, President and CEO Bethany M. Owen, along with Senior VP and CFO Steven W. Morris, will discuss the results and other performance factors in a conference call at 10 a.m. Eastern time. Interested individuals may participate.

Allete (ALE) came out with quarterly earnings of $0.89 per share, missing the Zacks Consensus Estimate of $0.93 per share. This compares to earnings of $0.90 per share a year ago.

ALLETE is a utility company with a strong focus on sustainability and clean energy, making it an attractive investment in the utility sector. The company has shown robust growth in revenues and EPS over the past decade, driven by organic growth and strategic acquisitions. ALLETE's current valuation, with a P/E ratio of 14, is attractive considering its growth potential, thus making it a buy.

ALLETE Inc's stock has underperformed the broader market, but it still presents a good long-term investment opportunity. The company is focusing on clean and renewable energy projects, particularly in wind energy generation. ALLETE has identified investment opportunities, such as expanding into North Dakota, which could lead to increased revenues and shareholder returns.

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Inc. (NYSE:ALE) will announce its financial results for 2023 before the stock markets open on Tuesday, February 20, 2024. Following the release, ALLETE Chair, President and Chief Executive Officer Bethany M. Owen, and Senior Vice President and Chief Financial Officer Steven W. Morris will present an overview of results and other factors related to performance, and discuss 2024 earnings guidance during a conference call beginning at 10 a.m. Eastern time. In.