Allete, Inc. (ALE) To Go Ex-Dividend on November 14th
Allete, Inc. (NYSE:ALE) declared a quarterly dividend on Wednesday, October 25th, RTT News reports. Shareholders of record on Wednesday, November 15th will be given a dividend of 0.535 per share by the utilities provider on Friday, December 1st. This represents a $2.14 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend is Tuesday, November 14th.
Allete has raised its dividend payment by an average of 3.1% per year over the last three years and has raised its dividend annually for the last 6 consecutive years. Allete has a payout ratio of 64.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Allete to earn $3.65 per share next year, which means the company should continue to be able to cover its $2.14 annual dividend with an expected future payout ratio of 58.6%.
Allete (NYSE:ALE) opened at $76.34 on Monday. Allete has a 1 year low of $58.22 and a 1 year high of $80.00. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.98 and a current ratio of 1.34. The company has a market capitalization of $3,896.37, a price-to-earnings ratio of 21.09, a PEG ratio of 3.77 and a beta of 0.47.
COPYRIGHT VIOLATION NOTICE: “Allete, Inc. (ALE) To Go Ex-Dividend on November 14th” was reported by Daily Political and is owned by of Daily Political. If you are reading this news story on another domain, it was copied illegally and republished in violation of U.S. & international copyright & trademark law. The original version of this news story can be read at https://www.dailypolitical.com/2017/11/13/allete-inc-ale-to-go-ex-dividend-on-november-14th.html.
A number of research analysts have recently commented on the company. Zacks Investment Research cut Allete from a “buy” rating to a “hold” rating in a research report on Friday, November 3rd. Ladenburg Thalmann Financial Services cut Allete from a “buy” rating to a “neutral” rating and set a $78.00 price target on the stock. in a research report on Friday, October 20th. Williams Capital reiterated a “hold” rating and set a $79.00 price objective on shares of Allete in a research note on Thursday, October 12th. J P Morgan Chase & Co boosted their price objective on Allete from $66.00 to $73.00 and gave the company an “underweight” rating in a research note on Thursday, October 12th. Finally, ValuEngine lowered Allete from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a strong buy rating to the company’s stock. Allete has a consensus rating of “Hold” and an average price target of $79.50.
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.
Receive News & Ratings for Allete Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allete Inc. and related companies with MarketBeat.com's FREE daily email newsletter.