ALLETE (NYSE:ALE - Get Free Report) announced its quarterly earnings data on Tuesday. The utilities provider reported $0.87 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.02 by ($0.15), Zacks reports. ALLETE had a net margin of 11.72% and a return on equity of 5.97%.
ALLETE Price Performance
Shares of ALE stock traded down $0.02 during mid-day trading on Friday, hitting $65.44. The company had a trading volume of 291,739 shares, compared to its average volume of 375,336. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.08 and a quick ratio of 0.69. The stock's 50 day moving average price is $65.25 and its 200-day moving average price is $64.55. ALLETE has a 52-week low of $55.86 and a 52-week high of $65.99. The company has a market capitalization of $3.79 billion, a P/E ratio of 21.11 and a beta of 0.80.
ALLETE Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be issued a dividend of $0.73 per share. This is a positive change from ALLETE's previous quarterly dividend of $0.71. This represents a $2.92 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date of this dividend is Friday, February 14th. ALLETE's dividend payout ratio (DPR) is 94.19%.
Analysts Set New Price Targets
Separately, StockNews.com initiated coverage on shares of ALLETE in a report on Friday, January 10th. They set a "hold" rating on the stock.
Get Our Latest Research Report on ALLETE
About ALLETE
(
Get Free Report)
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.
Featured Articles
Before you consider ALLETE, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ALLETE wasn't on the list.
While ALLETE currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
