ALLETE Inc (NYSE:ALE) Chairman Alan R. Hodnik sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $75.70, for a total value of $302,800.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Shares of NYSE:ALE opened at $75.81 on Friday. ALLETE Inc has a 52-week low of $66.64 and a 52-week high of $81.24. The company has a market capitalization of $3.87 billion, a P/E ratio of 23.76, a PEG ratio of 3.76 and a beta of 0.18. The company has a current ratio of 1.21, a quick ratio of 0.80 and a debt-to-equity ratio of 0.69.
ALLETE (NYSE:ALE) last announced its quarterly earnings data on Thursday, August 2nd. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.11). ALLETE had a return on equity of 8.04% and a net margin of 12.02%. The firm had revenue of $344.10 million during the quarter, compared to the consensus estimate of $343.00 million. During the same period last year, the company earned $0.72 EPS. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. equities research analysts predict that ALLETE Inc will post 3.34 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, September 1st. Investors of record on Wednesday, August 15th were paid a $0.56 dividend. The ex-dividend date was Tuesday, August 14th. This represents a $2.24 annualized dividend and a yield of 2.95%. ALLETE’s dividend payout ratio (DPR) is currently 70.22%.
Large investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. bought a new position in ALLETE in the second quarter worth approximately $114,000. Northwestern Mutual Wealth Management Co. grew its stake in ALLETE by 1,051.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,601 shares of the utilities provider’s stock worth $124,000 after purchasing an additional 1,462 shares in the last quarter. Signet Financial Management LLC bought a new position in ALLETE in the second quarter worth approximately $160,000. Advisors Asset Management Inc. grew its stake in ALLETE by 91.0% in the second quarter. Advisors Asset Management Inc. now owns 13,800 shares of the utilities provider’s stock worth $172,000 after purchasing an additional 6,576 shares in the last quarter. Finally, Bruderman Asset Management LLC bought a new position in ALLETE in the first quarter worth approximately $184,000. 73.26% of the stock is currently owned by institutional investors.
A number of research firms have recently commented on ALE. ValuEngine raised ALLETE from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd. Zacks Investment Research cut ALLETE from a “hold” rating to a “sell” rating in a research note on Saturday, July 14th. Guggenheim reaffirmed a “hold” rating and set a $71.00 target price on shares of ALLETE in a research note on Monday, July 23rd. Finally, Williams Capital cut ALLETE from a “buy” rating to a “hold” rating and cut their target price for the company from $76.00 to $73.00 in a research note on Monday, June 11th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. ALLETE has an average rating of “Hold” and a consensus price target of $73.64.
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, natural gas-fired, biomass co-fired, hydroelectric, wind, solar, and other sources. The company provides regulated 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.
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