ALLETE (NYSE:ALE – Get Free Report) posted its earnings results on Thursday. The utilities provider reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.30), Briefing.com reports. The firm had revenue of $354.50 million for the quarter, compared to analysts’ expectations of $547.24 million. ALLETE had a return on equity of 7.07% and a net margin of 14.36%. The firm’s revenue for the quarter was down 33.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.90 earnings per share.
ALLETE Trading Up 0.9 %
Shares of ALE traded up $0.60 during mid-day trading on Friday, reaching $64.65. The company had a trading volume of 508,616 shares, compared to its average volume of 418,477. ALLETE has a fifty-two week low of $49.29 and a fifty-two week high of $65.86. The firm has a fifty day simple moving average of $63.18 and a 200-day simple moving average of $60.68. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of 15.54 and a beta of 0.80. The company has a current ratio of 1.45, a quick ratio of 0.96 and a debt-to-equity ratio of 0.51.
ALLETE Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Thursday, August 15th will be given a dividend of $0.7005 per share. This represents a $2.80 annualized dividend and a yield of 4.33%. The ex-dividend date of this dividend is Thursday, August 15th. ALLETE’s dividend payout ratio (DPR) is 67.79%.
Analyst Ratings Changes
View Our Latest Stock Report on ALLETE
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.
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