ALLETE (NYSE:ALE) Issues Earnings Results

ALLETE (NYSE:ALE) announced its quarterly earnings results on Tuesday. The utilities provider reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.15), Zacks reports. ALLETE had a net margin of 11.49% and a return on equity of 5.99%.

ALLETE Stock Performance

NYSE ALE opened at $65.33 on Tuesday. ALLETE has a 52-week low of $55.86 and a 52-week high of $65.99. The stock has a market cap of $3.78 billion, a PE ratio of 20.94 and a beta of 0.80. The firm has a 50-day moving average of $65.19 and a 200-day moving average of $64.52. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.45.

ALLETE Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be paid a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date is Friday, February 14th. This is a boost from ALLETE’s previous quarterly dividend of $0.71. ALLETE’s dividend payout ratio (DPR) is currently 90.38%.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of ALLETE in a research note on Friday, January 10th. They set a “hold” rating for the company.

About ALLETE

ALLETE, Inc operates as an energy company. The company operates through Regulated Operations, ALLETE Clean Energy, and Corporate and Other segments. It generates electricity from coal-fired, biomass co-fired / natural gas, hydroelectric, wind, and solar. In addition, the company provides regulated utility electric 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 150,000 retail customers and 14 non-affiliated municipal customers.