News stories about Allete (NYSE:ALE) have trended somewhat positive on Thursday, according to Accern Sentiment Analysis. Accern identifies negative and positive media coverage by reviewing more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Allete earned a media sentiment score of 0.18 on Accern’s scale. Accern also assigned headlines about the utilities provider an impact score of 47.2121890278501 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
These are some of the news headlines that may have impacted Accern Sentiment Analysis’s analysis:
- Dividend Coverage: This Energy Company has a Dividend Yield of 2.86%; Will Trade Ex-Dividend on August 11, 2017 (finance.yahoo.com)
- Insider Selling: Allete, Inc. (ALE) Director Sells 2,500 Shares of Stock (americanbankingnews.com)
- Williams Capital Analysts Decrease Earnings Estimates for Allete, Inc. (NYSE:ALE) (americanbankingnews.com)
- Allete, Inc. (NYSE:ALE) Lifted to “Buy” at BidaskClub (americanbankingnews.com)
- Allete, Inc. (NYSE:ALE) to Post FY2017 Earnings of $3.43 Per Share, Williams Capital Forecasts (americanbankingnews.com)
Several research firms recently issued reports on ALE. BidaskClub raised shares of Allete from a “hold” rating to a “buy” rating in a research note on Friday, August 4th. Zacks Investment Research lowered shares of Allete from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Williams Capital lifted their target price on shares of Allete from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, April 21st. Finally, Ladenburg Thalmann Financial Services lifted their target price on shares of Allete from $71.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, June 9th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $75.38.
Allete (NYSE:ALE) traded up 0.17% during trading on Thursday, reaching $74.48. 185,544 shares of the company’s stock were exchanged. The firm has a market cap of $3.80 billion, a P/E ratio of 21.91 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’s 50 day moving average price is $72.37 and its 200 day moving average price is $69.55.
Allete (NYSE:ALE) last posted its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.17. The business had revenue of $353.30 million during the quarter, compared to the consensus estimate of $342.50 million. Allete had a return on equity of 9.21% and a net margin of 12.09%. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.50 earnings per share. Equities research analysts anticipate that Allete will post $3.38 EPS for the current fiscal year.
The business also recently declared 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. The ex-dividend date is Friday, August 11th. This represents a $2.14 annualized dividend and a dividend yield of 2.87%. Allete’s payout ratio is presently 63.13%.
In other news, Director Madeleine W. Ludlow sold 2,500 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $74.83, for a total transaction of $187,075.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.42% of the stock is owned by company insiders.
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About Allete
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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