Allete (ALE) Receives Media Impact Rating of 0.19
Media stories about Allete (NYSE:ALE) have been trending somewhat positive recently, Accern reports. Accern ranks the sentiment of media coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Allete earned a media sentiment score of 0.19 on Accern’s scale. Accern also assigned news articles about the utilities provider an impact score of 46.5027824281904 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
Several research firms have weighed in on ALE. Ladenburg Thalmann Financial Services increased their price target on shares of Allete from $71.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, June 9th. Williams Capital increased their price objective on shares of Allete from $75.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, June 19th. Zacks Investment Research cut shares of Allete from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, BidaskClub cut shares of Allete from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Allete presently has a consensus rating of “Buy” and a consensus price target of $75.38.
Shares of Allete (ALE) opened at 74.49 on Friday. The stock has a market capitalization of $3.80 billion, a PE ratio of 21.92 and a beta of 0.48. Allete has a 52 week low of $56.48 and a 52 week high of $75.17. The stock has a 50 day moving average of $72.52 and a 200-day moving average of $69.92.
Allete (NYSE:ALE) last released its earnings results on Wednesday, August 2nd. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.17. Allete had a net margin of 12.09% and a return on equity of 9.21%. The business had revenue of $353.30 million during the quarter, compared to analyst estimates of $342.50 million. During the same quarter in the prior year, the firm earned $0.50 earnings per share. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. On average, equities research analysts expect that Allete will post $3.38 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be issued a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Friday, August 11th. Allete’s payout ratio is 63.13%.
In other news, Director Madeleine W. Ludlow sold 2,500 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $74.83, for a total transaction of $187,075.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.42% of the stock is owned by corporate insiders.
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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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