ALLETE (NYSE:ALE) Issues Quarterly Earnings Results

ALLETE (NYSE:ALE) announced 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 net margin of 11.72% and a return on equity of 5.97%.

ALLETE Stock Performance

ALLETE stock opened at $65.49 on Thursday. The company has a current ratio of 1.08, a quick ratio of 0.69 and a debt-to-equity ratio of 0.50. The firm has a market cap of $3.79 billion, a P/E 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 firm has a 50-day moving average of $65.22 and a 200-day moving average of $64.54.

ALLETE Increases Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 4.46%. This is an increase from ALLETE’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Friday, February 14th. ALLETE’s dividend payout ratio is 94.19%.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on ALLETE in a research report on Friday, January 10th. They set 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.