ALLETE, Inc. (NYSE:ALE – Get Free Report) has received a consensus rating of “Reduce” from the five ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $58.60.
ALE has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price on ALLETE from $57.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 21st. Guggenheim raised ALLETE from a “sell” rating to a “neutral” rating and set a $58.00 price objective on the stock in a report on Monday, January 22nd. Finally, Sidoti lowered ALLETE from a “buy” rating to a “neutral” rating and set a $64.00 target price for the company. in a research note on Wednesday, January 10th.
Get Our Latest Analysis on ALE
Hedge Funds Weigh In On ALLETE
ALLETE Price Performance
NYSE ALE opened at $62.70 on Monday. The company has a market cap of $3.61 billion, a PE ratio of 14.58 and a beta of 0.75. The company has a quick ratio of 0.78, a current ratio of 1.24 and a debt-to-equity ratio of 0.49. The firm’s 50-day simple moving average is $59.07 and its two-hundred day simple moving average is $58.47. ALLETE has a 52 week low of $49.29 and a 52 week high of $65.86.
ALLETE (NYSE:ALE – Get Free Report) last issued its earnings results on Tuesday, February 20th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.08). The business had revenue of $402.70 million for the quarter, compared to the consensus estimate of $425.21 million. ALLETE had a net margin of 13.15% and a return on equity of 7.31%. The company’s revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.90 EPS. Research analysts predict that ALLETE will post 3.75 earnings per share for the current year.
ALLETE Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 15th will be issued a dividend of $0.705 per share. This represents a $2.82 annualized dividend and a yield of 4.50%. The ex-dividend date is Tuesday, May 14th. ALLETE’s dividend payout ratio is presently 65.58%.
ALLETE Company Profile
ALLETE, Inc operates as an energy company. The company operates through Regulated Operations, ALLETE Clean Energy, and Corporate and Other segments. It generates electricity from coal-fired, biomass co-fired / natural gas, hydroelectric, wind, and solar. In addition, the company provides regulated utility electric services in northwestern Wisconsin to approximately 15,000 electric customers, 13,000 natural gas customers, and 10,000 water customers, as well as regulated utility electric services in northeastern Minnesota to approximately 150,000 retail customers and 14 non-affiliated municipal customers.
See Also
- Five stocks we like better than ALLETE
- What Are Dividend Challengers?
- Lucid’s Stock Price is Still in Reverse: New Lows Are Coming
- Energy and Oil Stocks Explained
- Generac Powers Ahead on the Electrification Mega-Trend
- Profitably Trade Stocks at 52-Week Highs
- PulteGroup Wins and Wins More on Interest Rate Cuts
Receive News & Ratings for ALLETE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ALLETE and related companies with MarketBeat.com's FREE daily email newsletter.