ALLETE (NYSE:ALE) Releases FY19 Earnings Guidance

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

A number of brokerages have recently issued reports on ALE. Zacks Investment Research lowered shares of ALLETE from a hold rating to a sell rating in a research note on Friday, September 27th. ValuEngine lowered shares of ALLETE from a buy rating to a hold rating in a research note on Wednesday, October 2nd.

Shares of ALLETE stock traded down $1.07 on Friday, reaching $79.87. 127,071 shares of the stock were exchanged, compared to its average volume of 230,380. ALLETE has a 1-year low of $72.42 and a 1-year high of $88.60. The company has a current ratio of 1.34, a quick ratio of 1.08 and a debt-to-equity ratio of 0.68. The business has a fifty day moving average price of $86.52 and a two-hundred day moving average price of $84.83. The firm has a market capitalization of $4.33 billion, a PE ratio of 22.12, a PEG ratio of 3.23 and a beta of 0.14.

ALLETE (NYSE:ALE) last issued its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.03). ALLETE had a return on equity of 9.14% and a net margin of 13.61%. The firm had revenue of $288.30 million for the quarter, compared to analyst estimates of $305.75 million. During the same quarter last year, the firm earned $0.59 earnings per share. The company’s revenue was down 17.2% compared to the same quarter last year. Research analysts expect that ALLETE will post 3.6 EPS for the current year.

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

In other ALLETE news, CEO Alan R. Hodnik sold 6,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were 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 SEC, which is available through this hyperlink. Corporate insiders own 0.43% of the company’s stock.


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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