ALLETE (ALE) Issues FY18 Earnings Guidance

ALLETE (NYSE:ALE) updated its FY18 earnings guidance on Thursday. The company provided EPS guidance of $3.10-3.40 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.52.

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of ALLETE from $76.00 to $73.00 and set an underweight rating on the stock in a research note on Thursday, January 25th. Ladenburg Thalmann Financial Services cut shares of ALLETE from a buy rating to a neutral rating and set a $78.00 target price on the stock. in a research note on Friday, October 20th. Wells Fargo & Co set a $71.00 target price on shares of ALLETE and gave the stock a hold rating in a research note on Tuesday. Williams Capital raised shares of ALLETE from a hold rating to a buy rating and set a $76.00 target price on the stock in a research note on Friday, February 2nd. Finally, Zacks Investment Research raised shares of ALLETE from a sell rating to a hold rating in a research note on Tuesday, January 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. ALLETE currently has an average rating of Hold and an average price target of $77.20.

ALLETE (ALE) opened at $68.05 on Thursday. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.71. The firm has a market cap of $3,544.70, a PE ratio of 19.67, a PEG ratio of 2.75 and a beta of 0.33. ALLETE has a 1 year low of $64.56 and a 1 year high of $81.24.

ALLETE (NYSE:ALE) last announced its quarterly earnings results on Thursday, February 15th. The utilities provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.06. The firm had revenue of $337.90 million for the quarter, compared to analysts’ expectations of $348.00 million. ALLETE had a net margin of 12.31% and a return on equity of 9.21%. The company’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 EPS. analysts expect that ALLETE will post 3.16 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be given a dividend of $0.56 per share. This is a boost from ALLETE’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $2.24 annualized dividend and a dividend yield of 3.29%. ALLETE’s payout ratio is presently 61.85%.

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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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