ALLETE Inc (NYSE:ALE) CEO Alan R. Hodnik sold 4,000 shares of ALLETE stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $84.74, for a total value of $338,960.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Shares of NYSE:ALE traded up $0.38 during trading on Friday, reaching $85.11. The stock had a trading volume of 5,437 shares, compared to its average volume of 176,861. ALLETE Inc has a 52 week low of $72.06 and a 52 week high of $86.52. The company has a current ratio of 1.73, a quick ratio of 1.50 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $4.37 billion, a P/E ratio of 23.53, a price-to-earnings-growth ratio of 3.24 and a beta of 0.27.
ALLETE (NYSE:ALE) last posted its earnings results on Thursday, May 2nd. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.01). ALLETE had a net margin of 12.93% and a return on equity of 9.11%. The firm had revenue of $357.20 million during the quarter, compared to the consensus estimate of $364.00 million. During the same quarter last year, the firm posted $0.99 EPS. The business’s revenue was down .3% on a year-over-year basis. As a group, analysts forecast that ALLETE Inc will post 3.63 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th were paid a $0.5875 dividend. This represents a $2.35 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend was Tuesday, May 14th. ALLETE’s dividend payout ratio (DPR) is currently 65.10%.
Large investors have recently bought and sold shares of the company. Oregon Public Employees Retirement Fund raised its stake in shares of ALLETE by 1.9% in the first quarter. Oregon Public Employees Retirement Fund now owns 20,526 shares of the utilities provider’s stock valued at $1,688,000 after acquiring an additional 390 shares during the last quarter. Vanguard Group Inc raised its position in ALLETE by 1.4% in the 3rd quarter. Vanguard Group Inc now owns 5,108,607 shares of the utilities provider’s stock worth $383,197,000 after purchasing an additional 71,585 shares during the last quarter. WP Advisors LLC bought a new position in ALLETE in the 1st quarter worth approximately $36,000. Cetera Advisor Networks LLC raised its position in ALLETE by 6.1% in the 1st quarter. Cetera Advisor Networks LLC now owns 8,413 shares of the utilities provider’s stock worth $691,000 after purchasing an additional 485 shares during the last quarter. Finally, Employees Retirement System of Texas raised its position in ALLETE by 70.6% in the 4th quarter. Employees Retirement System of Texas now owns 29,000 shares of the utilities provider’s stock worth $2,210,000 after purchasing an additional 12,000 shares during the last quarter. Institutional investors own 71.75% of the company’s stock.
ALE has been the topic of a number of recent research reports. Zacks Investment Research downgraded ALLETE from a “buy” rating to a “hold” rating in a report on Monday, March 11th. ValuEngine upgraded shares of ALLETE from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. Finally, Williams Capital upgraded shares of ALLETE from a “sell” rating to a “hold” rating and lifted their target price for the company from $69.00 to $76.00 in a research note on Tuesday, February 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. ALLETE has a consensus rating of “Hold” and an average target price of $79.06.
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, wind, hydroelectric, natural gas-fired, biomass co-fired, solar, and other sources. The company provides regulated utility 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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