ALLETE (NYSE:ALE) Updates FY19 Earnings Guidance

ALLETE (NYSE:ALE) issued an update on its FY19 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $3.50-3.80 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.58.

Shares of ALLETE stock traded down $1.07 on Friday, reaching $79.87. The company’s stock had a trading volume of 127,071 shares, compared to its average volume of 230,380. The company has a market capitalization of $4.33 billion, a price-to-earnings ratio of 22.12, a P/E/G ratio of 3.23 and a beta of 0.14. The firm’s fifty day simple moving average is $86.52 and its two-hundred day simple moving average is $84.83. ALLETE has a 52 week low of $72.42 and a 52 week high of $88.60. The company has a quick ratio of 1.08, a current ratio of 1.34 and a debt-to-equity ratio of 0.68.

ALLETE (NYSE:ALE) last posted its earnings results on Wednesday, November 6th. The utilities provider reported $0.60 EPS for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.03). ALLETE had a return on equity of 9.14% and a net margin of 13.61%. The business had revenue of $288.30 million during the quarter, compared to the consensus estimate of $305.75 million. During the same period in the previous year, the business posted $0.59 EPS. The firm’s revenue for the quarter was down 17.2% on a year-over-year basis. As a group, research analysts predict that ALLETE will post 3.6 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be given a $0.587 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $2.35 annualized dividend and a dividend yield of 2.94%. ALLETE’s payout ratio is 65.10%.

Several equities analysts have recently commented on the company. ValuEngine downgraded ALLETE from a buy rating to a hold rating in a research report on Wednesday, October 2nd. Zacks Investment Research downgraded ALLETE from a hold rating to a sell rating in a research report on Friday, September 27th.

In other news, CEO Alan R. Hodnik sold 6,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $86.98, for a total transaction of $521,880.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.43% of the stock is owned by corporate insiders.


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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