ALLETE (NYSE:ALE) Announces Earnings Results, Misses Estimates By $0.15 EPS

ALLETE (NYSE:ALE) released its earnings results on Tuesday. The utilities provider reported $0.87 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

ALE opened at $65.69 on Wednesday. The company’s 50 day moving average is $65.20 and its 200 day moving average is $64.53. 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 company has a market cap of $3.80 billion, a price-to-earnings ratio of 21.19 and a beta of 0.80. ALLETE has a 12-month low of $55.86 and a 12-month high of $65.99.

ALLETE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be given a dividend of $0.73 per share. The ex-dividend date is Friday, February 14th. This represents a $2.92 annualized dividend and a dividend yield of 4.45%. This is a positive change from ALLETE’s previous quarterly dividend of $0.71. ALLETE’s dividend payout ratio is presently 94.19%.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of ALLETE in a 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.