ALLETE (ALE) Set to Announce Earnings on Thursday

ALLETE (NYSE:ALEGet Rating) will release its earnings data before the market opens on Thursday, May 5th. Analysts expect ALLETE to post earnings of $1.29 per share for the quarter. ALLETE has set its FY 2022 guidance at $3.600-$3.900 EPS and its FY22 guidance at $3.60-3.90 EPS.Investors that are interested in participating in the company’s conference call can do so using this link.

ALLETE (NYSE:ALEGet Rating) last issued its quarterly earnings data on Wednesday, February 16th. The utilities provider reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.08. The firm had revenue of $399.00 million for the quarter, compared to analyst estimates of $327.65 million. ALLETE had a net margin of 11.92% and a return on equity of 5.89%. The company’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.90 earnings per share. On average, analysts expect ALLETE to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Shares of ALE opened at $60.65 on Thursday. The firm has a market cap of $3.23 billion, a PE ratio of 18.78 and a beta of 0.57. The firm’s 50 day moving average price is $64.14 and its 200 day moving average price is $63.65. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.36 and a current ratio of 0.54. ALLETE has a twelve month low of $56.84 and a twelve month high of $73.10.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 1st. Investors of record on Tuesday, February 15th were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 4.29%. The ex-dividend date was Monday, February 14th. This is a positive change from ALLETE’s previous quarterly dividend of $0.63. ALLETE’s dividend payout ratio (DPR) is presently 80.50%.

Several equities analysts recently weighed in on ALE shares. Zacks Investment Research raised shares of ALLETE from a “sell” rating to a “hold” rating in a research report on Friday, April 22nd. TheStreet upgraded ALLETE from a “c+” rating to a “b” rating in a report on Thursday, January 6th. Mizuho lowered their price target on ALLETE from $66.00 to $60.00 and set a “neutral” rating on the stock in a report on Wednesday, March 2nd. Finally, StockNews.com assumed coverage on ALLETE in a report on Thursday, March 31st. They set a “hold” rating on the stock. Four analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, ALLETE presently has an average rating of “Hold” and a consensus price target of $69.33.

Several institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its stake in shares of ALLETE by 21.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,210,693 shares of the utilities provider’s stock worth $80,329,000 after acquiring an additional 215,877 shares during the last quarter. Legal & General Group Plc grew its stake in shares of ALLETE by 3.8% in the fourth quarter. Legal & General Group Plc now owns 417,859 shares of the utilities provider’s stock worth $27,725,000 after acquiring an additional 15,108 shares during the last quarter. Parametric Portfolio Associates LLC grew its stake in shares of ALLETE by 2.5% in the fourth quarter. Parametric Portfolio Associates LLC now owns 286,607 shares of the utilities provider’s stock worth $19,016,000 after acquiring an additional 7,046 shares during the last quarter. Morgan Stanley grew its stake in shares of ALLETE by 12.2% in the second quarter. Morgan Stanley now owns 276,484 shares of the utilities provider’s stock worth $19,348,000 after acquiring an additional 30,051 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of ALLETE by 34.4% in the fourth quarter. Millennium Management LLC now owns 210,824 shares of the utilities provider’s stock worth $13,988,000 after acquiring an additional 53,994 shares during the last quarter. Institutional investors and hedge funds own 71.09% of the company’s stock.

ALLETE Company Profile (Get Rating)

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. 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 145,000 retail customers and 15 non-affiliated municipal customers.

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Earnings History for ALLETE (NYSE:ALE)

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