ALLETE (ALE) Set to Announce Quarterly Earnings on Wednesday

ALLETE (NYSE:ALE) will be posting its quarterly earnings results before the market opens on Wednesday, October 30th.

ALLETE (NYSE:ALE) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.57 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.30). The business had revenue of $354.50 million during the quarter, compared to analysts’ expectations of $547.24 million. ALLETE had a net margin of 14.36% and a return on equity of 7.07%. The business’s quarterly revenue was down 33.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.90 EPS.

ALLETE Stock Performance

NYSE:ALE opened at $64.13 on Wednesday. The company has a market cap of $3.70 billion, a price-to-earnings ratio of 15.42 and a beta of 0.80. The company has a quick ratio of 0.83, a current ratio of 1.45 and a debt-to-equity ratio of 0.51. ALLETE has a 52 week low of $52.14 and a 52 week high of $65.86. The company has a fifty day simple moving average of $63.88 and a two-hundred day simple moving average of $62.91.

ALLETE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were issued a dividend of $0.7005 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.80 annualized dividend and a yield of 4.37%. ALLETE’s dividend payout ratio (DPR) is 67.79%.

Analyst Ratings Changes

A number of equities analysts have recently commented on ALE shares. Sidoti raised ALLETE from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 30th. StockNews.com initiated coverage on shares of ALLETE in a research note on Tuesday. They issued a “hold” rating for the company. Four research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat, ALLETE presently has a consensus rating of “Hold” and an average target price of $62.00.

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.