ALLETE, Inc. (ALE) To Go Ex-Dividend on February 14th

ALLETE, Inc. (NYSE:ALE) declared a quarterly dividend on Thursday, January 30th,RTT News reports. Stockholders of record on Friday, February 14th will be paid a dividend of 0.73 per share by the utilities provider on Saturday, March 1st. This represents a $2.92 annualized dividend and a dividend yield of 4.44%. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from ALLETE’s previous quarterly dividend of $0.71.

ALLETE has increased its dividend payment by an average of 3.8% annually over the last three years and has increased its dividend annually for the last 15 consecutive years. ALLETE has a dividend payout ratio of 66.5% indicating that its dividend is sufficiently covered by earnings.

ALLETE Price Performance

Shares of NYSE ALE opened at $65.76 on Wednesday. ALLETE has a 52 week low of $55.86 and a 52 week high of $65.95. The business’s 50 day moving average price is $65.11 and its 200 day moving average price is $64.49. The company has a quick ratio of 0.95, a current ratio of 1.45 and a debt-to-equity ratio of 0.51. The firm has a market cap of $3.80 billion, a P/E ratio of 21.08 and a beta of 0.80.

Wall Street Analyst Weigh In

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

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.