Allete Accounts Payable vs Interest Expense Analysis

ALE Stock  USD 58.82  1.24  2.15%   
Allete financial indicator trend analysis is way more than just evaluating Allete Inc prevailing accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Allete Inc is a good investment. Please check the relationship between Allete Accounts Payable and its Interest Expense accounts. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Allete Inc. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Accounts Payable vs Interest Expense

Accounts Payable vs Interest Expense Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Allete Inc Accounts Payable account and Interest Expense. At this time, the significance of the direction appears to have fragmental relationship.
The correlation between Allete's Accounts Payable and Interest Expense is 0.51. Overlapping area represents the amount of variation of Accounts Payable that can explain the historical movement of Interest Expense in the same time period over historical financial statements of Allete Inc, assuming nothing else is changed. The correlation between historical values of Allete's Accounts Payable and Interest Expense is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Accounts Payable of Allete Inc are associated (or correlated) with its Interest Expense. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Interest Expense has no effect on the direction of Accounts Payable i.e., Allete's Accounts Payable and Interest Expense go up and down completely randomly.

Correlation Coefficient

0.51
Relationship DirectionPositive 
Relationship StrengthWeak

Accounts Payable

An accounting item on the balance sheet that represents Allete obligation to pay off a short-term debt to its creditors. The accounts payable entry is usually reported under current liabilities. If accounts payable of Allete Inc are not paid within the agreed terms, the payables are considered to be in default, which may trigger a penalty or interest payment, or the revocation of additional credit from the supplier. Accounts payable may also be considered a source of cash, since they represent funds being borrowed from suppliers. Given these cash flow considerations, suppliers have a natural inclination to push for shorter payment terms, while creditors want to lengthen the payment terms. The amount a company owes to suppliers or vendors for products or services received but not yet paid for. It represents the company's short-term liabilities.

Interest Expense

The cost incurred by an entity for borrowed funds, including loans, bonds, or lines of credit.
Most indicators from Allete's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Allete Inc current financial condition. On the other hand, looking into the entire matrix of fundamental ratios indicators, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Allete Inc. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in bureau of economic analysis.
At present, Allete's Tax Provision is projected to decrease significantly based on the last few years of reporting.
 2021 2022 2023 2024 (projected)
Gross Profit453.5M446.8M238.1M453.3M
Total Revenue1.4B1.6B1.9B1.1B

Allete fundamental ratios Correlations

0.920.910.460.650.940.920.890.890.660.00.680.320.00.510.660.970.34-0.020.070.960.530.370.470.950.9
0.920.970.570.780.990.980.960.980.52-0.190.810.57-0.190.620.770.950.530.050.070.980.710.520.650.990.87
0.910.970.570.830.960.991.00.930.53-0.220.790.51-0.220.590.720.920.480.070.110.970.670.450.710.960.89
0.460.570.570.550.570.530.580.520.12-0.280.530.37-0.280.790.540.510.560.23-0.240.560.540.560.320.580.48
0.650.780.830.550.790.810.830.780.5-0.340.710.52-0.340.490.660.610.69-0.12-0.010.730.590.580.890.780.62
0.940.990.960.570.790.980.950.980.58-0.190.810.54-0.190.640.780.940.530.020.030.980.680.520.631.00.89
0.920.980.990.530.810.980.990.970.56-0.240.780.54-0.240.590.720.930.450.020.130.970.670.430.70.970.89
0.890.961.00.580.830.950.990.930.49-0.30.770.51-0.30.60.710.910.480.070.110.950.660.440.740.950.89
0.890.980.930.520.780.980.970.930.54-0.260.820.65-0.260.580.770.90.5-0.060.130.940.730.450.670.960.84
0.660.520.530.120.50.580.560.490.540.350.40.160.350.210.40.550.02-0.28-0.060.560.260.120.240.590.52
0.0-0.19-0.22-0.28-0.34-0.19-0.24-0.3-0.260.35-0.19-0.311.0-0.34-0.120.0-0.250.0-0.06-0.1-0.20.01-0.58-0.15-0.24
0.680.810.790.530.710.810.780.770.820.4-0.190.75-0.190.570.980.750.540.070.00.790.950.380.60.790.72
0.320.570.510.370.520.540.540.510.650.16-0.310.75-0.310.430.690.390.38-0.170.280.460.820.220.480.480.33
0.0-0.19-0.22-0.28-0.34-0.19-0.24-0.3-0.260.351.0-0.19-0.31-0.34-0.120.0-0.250.0-0.06-0.1-0.20.01-0.58-0.15-0.24
0.510.620.590.790.490.640.590.60.580.21-0.340.570.43-0.340.610.570.480.27-0.370.620.510.520.280.660.66
0.660.770.720.540.660.780.720.710.770.4-0.120.980.69-0.120.610.720.590.1-0.120.760.920.450.510.770.7
0.970.950.920.510.610.940.930.910.90.550.00.750.390.00.570.720.360.110.030.990.630.40.460.950.9
0.340.530.480.560.690.530.450.480.50.02-0.250.540.38-0.250.480.590.360.22-0.210.450.430.90.530.540.32
-0.020.050.070.23-0.120.020.020.07-0.06-0.280.00.07-0.170.00.270.10.110.22-0.240.090.040.25-0.180.050.2
0.070.070.11-0.24-0.010.030.130.110.13-0.06-0.060.00.28-0.06-0.37-0.120.03-0.21-0.240.020.07-0.340.11-0.010.03
0.960.980.970.560.730.980.970.950.940.56-0.10.790.46-0.10.620.760.990.450.090.020.670.470.580.980.91
0.530.710.670.540.590.680.670.660.730.26-0.20.950.82-0.20.510.920.630.430.040.070.670.260.520.650.58
0.370.520.450.560.580.520.430.440.450.120.010.380.220.010.520.450.40.90.25-0.340.470.260.340.550.28
0.470.650.710.320.890.630.70.740.670.24-0.580.60.48-0.580.280.510.460.53-0.180.110.580.520.340.610.52
0.950.990.960.580.781.00.970.950.960.59-0.150.790.48-0.150.660.770.950.540.05-0.010.980.650.550.610.9
0.90.870.890.480.620.890.890.890.840.52-0.240.720.33-0.240.660.70.90.320.20.030.910.580.280.520.9
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Allete Account Relationship Matchups

Allete fundamental ratios Accounts

201920202021202220232024 (projected)
Common Stock Shares Outstanding51.5M51.7M51.9M52.5M57.4M34.6M
Total Assets5.5B6.1B6.4B6.8B7.4B3.8B
Short Long Term Debt Total1.6B1.8B2.0B1.9B1.8B1.2B
Other Current Liab53.3M60.8M186.2M186.7M153.6M119.0M
Total Current Liabilities507.4M459.6M543.4M716.2M377.6M388.7M
Total Stockholder Equity2.2B2.3B2.4B2.7B2.8B1.5B
Property Plant And Equipment Net4.4B4.9B5.1B5.0B5.0B2.7B
Net Debt1.6B1.8B1.9B1.9B1.7B1.1B
Retained Earnings818.8M864.8M900.2M934.8M1.0B556.9M
Accounts Payable165.2M110M111M103M102.2M88.5M
Cash69.3M44.3M45.1M36.4M77M72.1M
Non Current Assets Total5.2B5.8B6.1B6.1B6.9B7.2B
Non Currrent Assets Other101.2M665.3M709.1M474.5M637.2M669.1M
Cash And Short Term Investments69.3M44.3M45.1M36.4M77M72.3M
Net Receivables96.4M111.9M123.7M137.9M137.2M117.3M
Common Stock Total Equity1.4B1.5B1.5B1.8B2.0B2.2B
Liabilities And Stockholders Equity5.5B6.1B6.4B6.8B7.4B3.8B
Non Current Liabilities Total2.6B2.8B2.9B2.8B3.6B1.8B
Inventory72.8M74.2M97.7M455.9M175.4M184.2M
Other Current Assets31M24.5M24.8M87.8M78.5M71.2M
Other Stockholder Equity104.1M505.5M533M(24.4M)(22.0M)(20.9M)
Total Liab3.1B3.3B3.5B3.5B4.0B2.3B
Property Plant And Equipment Gross4.4B4.9B7.2B5.0B7.4B7.7B
Total Current Assets269.5M254.9M291.3M718M468.1M316.6M
Accumulated Other Comprehensive Income(23.6M)(31.1M)(23.8M)(24.4M)(20.5M)(21.5M)
Short Term Debt219.8M209.6M219M275.8M114.4M123.6M
Common Stock1.4B1.5B1.5B1.8B1.8B949.7M
Other Liab1.2B1.2B1.2B1.1B1.3B675.9M
Other Assets609.1M990M725.5M592.5M681.4M421.1M
Long Term Debt1.4B1.6B1.8B1.6B1.7B1.2B
Intangible Assets223.3M1M800K155.6M140.0M133.9M
Property Plant Equipment4.4B4.8B5.1B5.0B5.8B6.0B
Current Deferred Revenue69.1M79.2M27.2M150.7M7.4M7.0M
Net Tangible Assets2.2B2.3B2.4B2.7B3.1B1.9B
Good Will148.3M223.3M1M(186.5M)(214.5M)(203.8M)
Retained Earnings Total Equity818.8M864.8M900.2M934.8M1.1B716.9M
Long Term Debt Total1.4B1.6B1.8B1.6B1.9B1.4B

Allete Investors Sentiment

The influence of Allete's investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in Allete. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock market does not have solid backing from leading economists and market statisticians.
Investor biases related to Allete's public news can be used to forecast risks associated with an investment in Allete. The trend in average sentiment can be used to explain how an investor holding Allete can time the market purely based on public headlines and social activities around Allete Inc. Please note that most equities that are difficult to arbitrage are affected by market sentiment the most.
Allete's market sentiment shows the aggregated news analyzed to detect positive and negative mentions from the text and comments. The data is normalized to provide daily scores for Allete's and other traded tickers. The bigger the bubble, the more accurate is the estimated score. Higher bars for a given day show more participation in the average Allete's news discussions. The higher the estimated score, the more favorable is the investor's outlook on Allete.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Allete in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Allete's short interest history, or implied volatility extrapolated from Allete options trading.

Pair Trading with Allete

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Allete position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Allete will appreciate offsetting losses from the drop in the long position's value.

Moving together with Allete Stock

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Moving against Allete Stock

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The ability to find closely correlated positions to Allete could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Allete when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Allete - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Allete Inc to buy it.
The correlation of Allete is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Allete moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Allete Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Allete can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.
Pair CorrelationCorrelation Matching
When determining whether Allete Inc is a strong investment it is important to analyze Allete's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Allete's future performance. For an informed investment choice regarding Allete Stock, refer to the following important reports:
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Allete Inc. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in bureau of economic analysis.
You can also try the Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.

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Is Allete's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Allete. If investors know Allete will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Allete listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth
(0.01)
Dividend Share
2.71
Earnings Share
4.3
Revenue Per Share
32.806
Quarterly Revenue Growth
(0.05)
The market value of Allete Inc is measured differently than its book value, which is the value of Allete that is recorded on the company's balance sheet. Investors also form their own opinion of Allete's value that differs from its market value or its book value, called intrinsic value, which is Allete's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Allete's market value can be influenced by many factors that don't directly affect Allete's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Allete's value and its price as these two are different measures arrived at by different means. Investors typically determine if Allete is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Allete's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.