ALLETE Inc (NYSE:ALE) declared a quarterly dividend on Thursday, October 24th, Zacks reports. Investors of record on Friday, November 15th will be given a dividend of 0.587 per share by the utilities provider on Sunday, December 1st. This represents a $2.35 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date is Thursday, November 14th.
ALE stock traded up $0.12 during trading on Tuesday, reaching $79.47. The company had a trading volume of 36,904 shares, compared to its average volume of 251,219. ALLETE has a 52 week low of $72.42 and a 52 week high of $88.60. The company has a market cap of $4.13 billion, a P/E ratio of 22.01, a PEG ratio of 3.08 and a beta of 0.14. The business has a 50 day moving average of $86.07 and a 200 day moving average of $84.83. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.61 and a quick ratio of 0.44.
ALLETE (NYSE:ALE) last announced its earnings results on Wednesday, November 6th. The utilities provider reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.03). ALLETE had a return on equity of 8.54% and a net margin of 14.23%. The firm had revenue of $288.30 million during the quarter, compared to the consensus estimate of $305.75 million. During the same period in the prior year, the company posted $0.59 EPS. The firm’s revenue was down 17.2% on a year-over-year basis. Research analysts expect that ALLETE will post 3.6 earnings per share for the current year.
In related news, CEO Alan R. Hodnik sold 6,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $86.98, for a total value of $521,880.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.43% of the stock is owned by company insiders.
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.
Featured Story: How Do Front-End Loads Impact an Investment?
Receive News & Ratings for ALLETE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ALLETE and related companies with MarketBeat.com's FREE daily email newsletter.