ALLETE (ALE) Issues FY18 Earnings Guidance

ALLETE (NYSE:ALE) issued an update on its FY18 earnings guidance on Thursday morning. The company provided EPS guidance of $3.10-3.40 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.52.

ALLETE (NYSE:ALE) opened at $68.05 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.98 and a current ratio of 1.34. The firm has a market cap of $3,544.70, a P/E ratio of 19.67, a PEG ratio of 2.75 and a beta of 0.33. ALLETE has a 1-year low of $64.56 and a 1-year high of $81.24.

ALLETE (NYSE:ALE) last posted its earnings results on Thursday, February 15th. The utilities provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.06. ALLETE had a net margin of 12.31% and a return on equity of 9.21%. The firm had revenue of $337.90 million during the quarter, compared to analyst estimates of $348.00 million. During the same period in the previous year, the firm earned $0.70 EPS. The business’s quarterly revenue was down 1.1% on a year-over-year basis. sell-side analysts anticipate that ALLETE will post 3.16 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be paid a $0.56 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $2.24 dividend on an annualized basis and a yield of 3.29%. This is a boost from ALLETE’s previous quarterly dividend of $0.54. ALLETE’s dividend payout ratio (DPR) is currently 61.85%.

A number of research firms recently issued reports on ALE. Ladenburg Thalmann Financial Services cut shares of ALLETE from a buy rating to a neutral rating and set a $78.00 price target on the stock. in a research note on Friday, October 20th. JPMorgan Chase & Co. lifted their price target on shares of ALLETE from $73.00 to $76.00 and gave the company an underweight rating in a research note on Wednesday, November 15th. Zacks Investment Research cut shares of ALLETE from a hold rating to a sell rating in a research note on Friday, November 17th. Williams Capital raised shares of ALLETE from a hold rating to a buy rating and set a $76.00 price target on the stock in a research note on Friday, February 2nd. Finally, Wells Fargo & Co set a $71.00 price target on shares of ALLETE and gave the company a hold rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $77.20.

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ALLETE Company Profile

ALLETE, Inc is an energy company. The Company’s segments include Regulated Operations, ALLETE Clean Energy, Inc (ALLETE Clean Energy), U.S. Water Services Holding Company (U.S. Water Services), and Corporate and Other. The Regulated Operations segment includes its regulated utilities, Minnesota Power, and Superior Water, Light and Power Company, and its investment in American Transmission Company LLC.

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