Allete Appoints Colin Anderson as Chief Accounting Officer

The latest announcement is out from Allete ( (ALE) ).

On April 16, 2025, Colin B. Anderson was appointed as ALLETE’s Vice President, Chief Accounting Officer, and Controller. Anderson, who has been with the company since 2021, previously served as Controller and Vice President – ALLETE Tax and Rates. His compensation includes a base salary of $311,725 and a long-term incentive plan opportunity of $125,000, with a mix of restricted stock units and performance share awards. Anderson’s appointment follows the retirement announcement of Steven W. Morris, who remains a Senior Vice President until his planned retirement on July 18, 2025.

Spark’s Take on ALE Stock

According to Spark, TipRanks’ AI Analyst, ALE is a Outperform.

Allete’s overall score is primarily driven by its strong financial performance and positive technical indicators, which reflect solid profitability and market momentum. The approval of a significant merger adds a positive outlook, although the company must address revenue growth and cash flow challenges for sustained success.

To see Spark’s full report on ALE stock, click here.

More about Allete

YTD Price Performance: 1.40%

Average Trading Volume: 363,827

Technical Sentiment Signal: Sell

Current Market Cap: $3.77B

See more insights into ALE stock on TipRanks’ Stock Analysis page.