Shares of ALLETE, Inc. (NYSE:ALE – Get Free Report) have been given a consensus rating of “Hold” by the four research firms that are covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $62.00.
Several analysts recently commented on the company. Mizuho lifted their price objective on ALLETE from $57.00 to $67.00 and gave the stock a “neutral” rating in a report on Thursday, May 16th. StockNews.com assumed coverage on ALLETE in a report on Tuesday. They issued a “hold” rating for the company.
Read Our Latest Stock Analysis on ALLETE
Institutional Trading of ALLETE
ALLETE Stock Down 0.3 %
ALE stock opened at $62.14 on Tuesday. ALLETE has a 1-year low of $49.29 and a 1-year high of $65.86. The business has a fifty day moving average price of $62.43 and a 200-day moving average price of $60.31. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.66 and a quick ratio of 0.96. The stock has a market capitalization of $3.58 billion, a P/E ratio of 14.94 and a beta of 0.80.
ALLETE (NYSE:ALE – Get Free Report) last issued its quarterly earnings data on Thursday, May 9th. The utilities provider reported $0.97 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.12). ALLETE had a return on equity of 7.21% and a net margin of 13.94%. The firm had revenue of $403.30 million during the quarter, compared to the consensus estimate of $581.26 million. Equities analysts forecast that ALLETE will post 3.75 earnings per share for the current fiscal year.
ALLETE Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th were issued a dividend of $0.705 per share. This represents a $2.82 annualized dividend and a yield of 4.54%. The ex-dividend date of this dividend was Tuesday, May 14th. ALLETE’s dividend payout ratio is presently 67.79%.
About ALLETE
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.
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