ALE has been the topic of a number of other reports. Zacks Investment Research lowered shares of ALLETE from a buy rating to a hold rating in a report on Friday, November 3rd. JPMorgan Chase & Co. reduced their target price on shares of ALLETE from $76.00 to $73.00 and set an underweight rating on the stock in a report on Thursday, January 25th. Wells Fargo & Co set a $71.00 target price on shares of ALLETE and gave the stock a hold rating in a report on Tuesday, February 13th. Finally, Williams Capital upgraded shares of ALLETE from a hold rating to a buy rating and set a $76.00 target price on the stock in a report on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $74.83.
Shares of ALLETE (NYSE ALE) traded up $1.79 during mid-day trading on Friday, hitting $69.98. 223,362 shares of the stock traded hands, compared to its average volume of 336,940. The firm has a market cap of $3,580.00, a price-to-earnings ratio of 22.43, a P/E/G ratio of 3.33 and a beta of 0.33. ALLETE has a 52-week low of $64.56 and a 52-week high of $81.24. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.77 and a current ratio of 1.05.
ALLETE (NYSE:ALE) last released its earnings results on Thursday, February 15th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.13). The business had revenue of $337.90 million for the quarter, compared to analyst estimates of $348.00 million. ALLETE had a return on equity of 8.40% and a net margin of 12.13%. ALLETE’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.70 earnings per share. analysts forecast that ALLETE will post 3.36 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be given a $0.56 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This is an increase from ALLETE’s previous quarterly dividend of $0.54. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.20%. ALLETE’s dividend payout ratio is currently 71.79%.
Several large investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio increased its position in shares of ALLETE by 4.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,768 shares of the utilities provider’s stock valued at $198,000 after purchasing an additional 115 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in shares of ALLETE by 4.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,493 shares of the utilities provider’s stock valued at $322,000 after purchasing an additional 204 shares during the last quarter. Chicago Equity Partners LLC increased its position in shares of ALLETE by 13.6% in the 3rd quarter. Chicago Equity Partners LLC now owns 6,105 shares of the utilities provider’s stock valued at $472,000 after purchasing an additional 730 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of ALLETE by 30.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 3,182 shares of the utilities provider’s stock valued at $247,000 after purchasing an additional 743 shares during the last quarter. Finally, Flinton Capital Management LLC increased its position in shares of ALLETE by 13.8% in the 4th quarter. Flinton Capital Management LLC now owns 6,692 shares of the utilities provider’s stock valued at $498,000 after purchasing an additional 812 shares during the last quarter. 73.01% of the stock is currently owned by institutional investors.
ALLETE Company Profile
ALLETE, Inc is an energy company. The Company’s segments include Regulated Operations, ALLETE Clean Energy, Inc (ALLETE Clean Energy), U.S. Water Services Holding Company (U.S. Water Services), and Corporate and Other. The Regulated Operations segment includes its regulated utilities, Minnesota Power, and Superior Water, Light and Power Company, and its investment in American Transmission Company LLC.
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