ALLETE (NYSE:ALE) updated its FY 2020
Pre-Market earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 3.40-3.70 for the period, compared to the Thomson Reuters consensus estimate of $3.67. ALLETE also updated its FY20 guidance to $3.40 to $3.70 EPS.

Several analysts recently commented on the company. Zacks Investment Research lowered ALLETE from a hold rating to a sell rating in a report on Friday, January 24th. Guggenheim raised ALLETE from a neutral rating to a buy rating in a report on Tuesday, January 7th. Finally, ValuEngine lowered ALLETE from a buy rating to a hold rating in a report on Friday, January 3rd.

NYSE:ALE traded down $0.05 during mid-day trading on Friday, hitting $81.19. 276,700 shares of the company traded hands, compared to its average volume of 224,239. The stock’s fifty day moving average price is $82.19 and its 200-day moving average price is $83.69. ALLETE has a one year low of $78.25 and a one year high of $88.60. The company has a quick ratio of 0.44, a current ratio of 0.61 and a debt-to-equity ratio of 0.64. The firm has a market cap of $4.24 billion, a price-to-earnings ratio of 21.31 and a beta of 0.14.

ALLETE (NYSE:ALE) last released its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.04. ALLETE had a return on equity of 8.54% and a net margin of 14.23%. The business had revenue of $304.60 million during the quarter, compared to analyst estimates of $356.60 million. During the same quarter in the previous year, the company posted $1.18 earnings per share. ALLETE’s revenue for the quarter was down 32.1% on a year-over-year basis. Equities analysts predict that ALLETE will post 3.36 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Friday, February 14th will be issued a dividend of $0.6175 per share. This represents a $2.47 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend is Thursday, February 13th. This is a positive change from ALLETE’s previous quarterly dividend of $0.59. ALLETE’s payout ratio is currently 65.10%.

In other ALLETE news, Director Madeleine W. Ludlow sold 1,200 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $79.45, for a total transaction of $95,340.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.43% of the company’s stock.

ALLETE Company Profile

ALLETE, Inc operates as an energy company. The company operates through three segments: Regulated Operations, ALLETE Clean Energy, and U.S. Water Services. It generates electricity from coal-fired, wind, hydroelectric, natural gas-fired, biomass co-fired, solar, and other sources. The company provides regulated utility electric, natural gas, and water 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 145,000 retail customers and 16 non-affiliated municipal customers.

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