ALLETE (NYSE:ALE) Issues FY18 Earnings Guidance

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

Shares of ALLETE (NYSE:ALE) traded up $1.08 during trading hours on Friday, hitting $69.27. The company had a trading volume of 27,145 shares, compared to its average volume of 323,139. The stock has a market capitalization of $3,467.54, a PE ratio of 20.17, a price-to-earnings-growth ratio of 3.31 and a beta of 0.33. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.77 and a current ratio of 1.05. ALLETE has a one year low of $64.56 and a one year high of $81.24.

ALLETE (NYSE:ALE) last announced its earnings results on Thursday, February 15th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.13). ALLETE had a net margin of 12.13% and a return on equity of 8.40%. The company had revenue of $337.90 million for the quarter, compared to analysts’ expectations of $348.00 million. During the same period in the previous year, the firm earned $0.70 EPS. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. analysts anticipate that ALLETE will post 3.36 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be given a $0.56 dividend. The ex-dividend date is Wednesday, February 14th. This represents a $2.24 annualized dividend and a yield of 3.23%. This is a boost from ALLETE’s previous quarterly dividend of $0.54. ALLETE’s payout ratio is currently 66.27%.

Several research analysts have weighed in on ALE shares. Zacks Investment Research cut ALLETE from a buy rating to a hold rating in a research report on Friday, November 3rd. JPMorgan Chase & Co. boosted their price objective on ALLETE from $73.00 to $76.00 and gave the stock an underweight rating in a research report on Wednesday, November 15th. Williams Capital raised ALLETE from a hold rating to a buy rating and set a $76.00 price objective on the stock in a research report on Friday, February 2nd. Finally, Wells Fargo & Co set a $71.00 price objective on ALLETE and gave the stock a hold rating in a research report on Tuesday, February 13th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. ALLETE has an average rating of Hold and an average price target of $77.20.

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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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