Media stories about ALLETE (NYSE:ALE) have been trending somewhat positive this week, according to Accern Sentiment. Accern scores the sentiment of media coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. ALLETE earned a news impact score of 0.01 on Accern’s scale. Accern also assigned news coverage about the utilities provider an impact score of 46.4225400519065 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
Several analysts have issued reports on ALE shares. Zacks Investment Research lowered shares of ALLETE from a “hold” rating to a “sell” rating in a research report on Wednesday, February 21st. Williams Capital upgraded shares of ALLETE from a “hold” rating to a “buy” rating and set a $76.00 price target for the company in a research report on Friday, February 2nd. Wells Fargo & Co set a $71.00 price target on shares of ALLETE and gave the company a “hold” rating in a research report on Tuesday, February 13th. Guggenheim restated a “hold” rating and set a $63.00 price target on shares of ALLETE in a research report on Friday, February 23rd. Finally, Mizuho started coverage on shares of ALLETE in a report on Wednesday, February 28th. They set a “buy” rating and a $71.50 target price for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $72.93.
ALLETE opened at $75.23 on Thursday, Marketbeat.com reports. The company has a quick ratio of 0.65, a current ratio of 1.01 and a debt-to-equity ratio of 0.67. The stock has a market cap of $3.84 billion, a PE ratio of 23.58, a PEG ratio of 3.37 and a beta of 0.30. ALLETE has a 1-year low of $66.64 and a 1-year high of $81.24.
ALLETE (NYSE:ALE) last posted its earnings results on Wednesday, May 2nd. The utilities provider reported $0.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.01. The company had revenue of $358.20 million during the quarter, compared to analyst estimates of $355.00 million. ALLETE had a net margin of 12.34% and a return on equity of 8.40%. ALLETE’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.97 earnings per share. sell-side analysts predict that ALLETE will post 3.36 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Tuesday, May 15th will be issued a dividend of $0.56 per share. The ex-dividend date is Monday, May 14th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.98%. ALLETE’s dividend payout ratio is currently 70.22%.
In other news, Director James J. Hoolihan sold 800 shares of the stock in a transaction dated Thursday, April 26th. The shares were sold at an average price of $75.16, for a total transaction of $60,128.00. Following the completion of the sale, the director now directly owns 15,684 shares in the company, valued at $1,178,809.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.41% of the company’s stock.
ALLETE, Inc operates as an energy company. The company operates through three segments: Regulated Operations, ALLETE Clean Energy, and U.S. Water Services. It generates electricity from coal-fired, natural gas-fired, biomass co-fired, hydroelectric, wind, solar, and other sources. The company provides regulated electric, natural gas, and water 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 145,000 retail customers and 16 non-affiliated municipal customers.
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