ALLETE (ALE) to Release Earnings on Wednesday

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

ALLETE (NYSE:ALE) last posted its 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 company had revenue of $354.50 million for the quarter, compared to the consensus estimate of $547.24 million. ALLETE had a return on equity of 7.07% and a net margin of 14.36%. ALLETE’s quarterly revenue was down 33.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.90 EPS.

ALLETE Price Performance

ALLETE stock opened at $64.30 on Monday. The business has a 50 day simple moving average of $63.90 and a 200 day simple moving average of $63.04. ALLETE has a one year low of $52.30 and a one year high of $65.86. The company has a market capitalization of $3.71 billion, a PE ratio of 15.46 and a beta of 0.80. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.45 and a quick ratio of 0.83.

ALLETE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be issued a dividend of $0.705 per share. This represents a $2.82 dividend on an annualized basis and a yield of 4.39%. This is a boost from ALLETE’s previous quarterly dividend of $0.70. ALLETE’s dividend payout ratio (DPR) is currently 67.79%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. StockNews.com initiated coverage on ALLETE in a report on Tuesday, October 22nd. They set a “hold” rating for the company. Sidoti raised ALLETE from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. Four equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $62.00.

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.