ALLETE (NYSE:ALE) Posts Earnings Results, Misses Expectations By $0.15 EPS

ALLETE (NYSE:ALE) issued its quarterly earnings data on Tuesday. The utilities provider reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.15), Zacks reports. ALLETE had a return on equity of 5.97% and a net margin of 11.72%.

ALLETE Stock Performance

Shares of NYSE ALE opened at $65.49 on Thursday. The stock’s 50-day moving average is $65.22 and its 200 day moving average is $64.54. The stock has a market cap of $3.79 billion, a price-to-earnings ratio of 21.12 and a beta of 0.80. ALLETE has a 1-year low of $55.86 and a 1-year high of $65.99. The company has a current ratio of 1.08, a quick ratio of 0.69 and a debt-to-equity ratio of 0.50.

ALLETE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be paid a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 4.46%. 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 is currently 94.19%.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of ALLETE in a report on Friday, January 10th. They set a “hold” rating on the stock.

ALLETE Company Profile

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.