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MarketScreener Homepage  >  Equities  >  Nyse  >  ALLETE Inc    ALE

ALLETE INC (ALE)
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ALLETE : Clean Energy Earns Yellow Ribbon Designation

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11/10/2017 | 03:30pm CEST

Company recognized for supporting veterans, service members and their families

As Veterans Day approaches, ALLETE Clean Energy, an ALLETE Inc. (NYSE: ALE) company, is proud to announce it has earned a Yellow Ribbon designation from the state of Minnesota.

Overseen by the Minnesota Department of Military Affairs, the Beyond the Yellow Ribbon program supports service members, veterans and their families by connecting them with career counseling, professional development and employment resources. The Yellow Ribbon program is a sister program to Employer Support of the Guard and Reserve, a Department of Defense program established to promote cooperation between service members and their civilian employees.

To earn a Yellow Ribbon designation from the Department of Military Affairs, companies must build relationships with local military leaders, identify which employees have military connections and commit to hiring, supporting and retaining veterans. The designation recognizes companies that honor military-connected employees and their families, and streamline their access to resources.

“Becoming the first clean energy independent power producer and developer to be recognized as a Yellow Ribbon company illustrates ALLETE Clean Energy’s commitment to our military-connected employees, their families and the communities in which we operate,” said ALLETE Clean Energy President Al Rudeck. “Military employees exemplify hard work, dedication and a commitment to excellence that we all benefit from. I thank all of our employees for their dedication to fulfilling their dual role of military and civilian missions.”

ALLETE and its subsidiaries have long supported military-connected employees. Minnesota Power/ALLETE was named a Yellow Ribbon company in 2016, and ALLETE Clean Energy used Minnesota Power’s experience as a guide to quickly earn its certification. In September, the North Dakota National Guard honored BNI Energy, an ALLETE company, in a Statement of Support for the Guard and Reserve for encouraging employment of National Guard members, Reservists and veterans.

ALLETE Clean Energy was established in 2011 to acquire or develop capital projects to create energy solutions by way of wind, solar, biomass, hydro, natural gas, shale resources, clean coal technology and other emerging innovations.

ALLETE, Inc. is an energy company headquartered in Duluth, Minnesota. In addition to its electric utilities, Minnesota Power and Superior Water, Light and Power of Wisconsin, ALLETE owns ALLETE Clean Energy, based in Duluth; BNI Energy in Bismarck, North Dakota; and U.S. Water Services in St. Michael, Minnesota, and has an 8 percent equity interest in the American Transmission Co. More information about ALLETE is available at www.allete.com. ALE-CORP

The statements contained in this release and statements that ALLETE may make orally in connection with this release that are not historical facts, are forward-looking statements. These forward-looking statements involve risks and uncertainties and investors are directed to the risks discussed in documents filed by ALLETE with the Securities and Exchange Commission.


© Business Wire 2017
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Financials ($)
Sales 2018 1 460 M
EBIT 2018 231 M
Net income 2018 170 M
Debt 2018 1 317 M
Yield 2018 3,00%
P/E ratio 2018 22,37
P/E ratio 2019 20,33
EV / Sales 2018 3,54x
EV / Sales 2019 3,56x
Capitalization 3 855 M
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Mean consensus HOLD
Number of Analysts 6
Average target price 74,6 $
Spread / Average Target -0,21%
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Managers
NameTitle
Alan R. Hodnik Chairman, President & Chief Executive Officer
Robert J. Adams Chief Financial Officer & Senior Vice President
Heidi E. Jimmerson Lead Independent Director
Madeleine W. Ludlow Independent Director
James J. Hoolihan Independent Director
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