ALLETE (NYSE:ALE) announced its quarterly earnings results on Thursday. The utilities provider reported $0.62 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.13), Morningstar.com reports. The company had revenue of $337.90 million during the quarter, compared to analyst estimates of $348.00 million. ALLETE had a net margin of 12.13% and a return on equity of 8.40%. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.70 EPS. ALLETE updated its FY18 guidance to $3.10-3.40 EPS.
ALLETE (NYSE:ALE) opened at $69.34 on Friday. The company has a current ratio of 1.05, a quick ratio of 0.98 and a debt-to-equity ratio of 0.70. The firm has a market cap of $3,540.00, a price-to-earnings ratio of 22.22, a P/E/G ratio of 2.75 and a beta of 0.33. ALLETE has a 1-year low of $64.56 and a 1-year high of $81.24.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be issued a dividend of $0.56 per share. This is a positive change from ALLETE’s previous quarterly dividend of $0.54. The ex-dividend date is Wednesday, February 14th. This represents a $2.24 annualized dividend and a dividend yield of 3.23%. ALLETE’s payout ratio is presently 71.79%.
A number of brokerages have weighed in on ALE. JPMorgan Chase & Co. decreased their price target on shares of ALLETE from $76.00 to $73.00 and set an “underweight” rating on the stock in a report on Thursday, January 25th. Ladenburg Thalmann Financial Services lowered shares of ALLETE from a “buy” rating to a “neutral” rating and set a $78.00 price target on the stock. in a report on Friday, October 20th. Wells Fargo & Co set a $71.00 price target on shares of ALLETE and gave the company a “hold” rating in a report on Tuesday. Williams Capital upgraded shares of ALLETE from a “hold” rating to a “buy” rating and set a $76.00 price target on the stock in a report on Friday, February 2nd. Finally, Zacks Investment Research upgraded shares of ALLETE from a “sell” rating to a “hold” rating in a report on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $77.20.
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ALLETE, Inc is an energy company. The Company’s segments include Regulated Operations, ALLETE Clean Energy, Inc (ALLETE Clean Energy), U.S. Water Services Holding Company (U.S. Water Services), and Corporate and Other. The Regulated Operations segment includes its regulated utilities, Minnesota Power, and Superior Water, Light and Power Company, and its investment in American Transmission Company LLC.
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