ALLETE, Inc. (NYSE:ALE)
The Company provides fundamental products and services which includes its two core businesses, Energy and Real Estate, as well as former operations in the water, paper, telecommunication and automotive industries.
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Recs
Allete through MN Power provides power to the mining and steel industry of northern MN. Also well situated to capitalize on increased wind farms in the Dakotas and Canada. Also has significant hydroelectic resources. ALE is also increasingly investing in transmission capacity - a major limitation to wind power. Solid dividend.
Recs
Excellent, reliable dividend payer. Great future potential for solid earnings given the upswing in mining and steel production that is coming in the next 10 years, as well a spec players like Polymet possibly opening mines. ALE provides the power for these mines. In addition Northern Minnesota is a gateway for wind power from Canada and the Dakotas, plus I believe the 25 year population growth trend for this area is strong as well.
Recs
This is a solid, well-run company that will outperform the market over the next five years. Currently sporting a dividend yield of 6.9% and a P/E of 9.1, I think the uncertainty in the Florida real estate segment overshadows other core operations. I also like it when insiders like Emery Sidney add to their holdings.
Recs
ANOTHER GREAT COMPANY
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Well run, always holds its value in the long run
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I believe...
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ALLETE, Inc., together with its subsidiaries, engages in the generation, transmission, distribution, and marketing of electrical power for retail and wholesale customers in the upper midwest of the United States. Note: I love a company with subsidiaries that usually means they can chop off the arms that offend them easily.
Recs
Allete has spun off their non-core business. With Real estate in Florida and the Electricity in the North, Allete is set for the forseeable future.
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