ALLETE, Inc. (ALE) To Go Ex-Dividend on February 14th

ALLETE, Inc. (NYSE:ALE) announced a quarterly dividend on Thursday, January 30th,RTT News reports. Investors of record on Friday, February 14th will be paid a dividend of 0.73 per share by the utilities provider on Saturday, March 1st. This represents a $2.92 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from ALLETE’s previous quarterly dividend of $0.71.

ALLETE has raised its dividend by an average of 3.8% per year over the last three years and has increased its dividend every year for the last 14 years. ALLETE has a payout ratio of 64.2% indicating that its dividend is sufficiently covered by earnings.

ALLETE Stock Performance

ALLETE stock opened at $65.59 on Friday. The business has a 50 day moving average of $65.00 and a 200-day moving average of $64.41. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.45 and a quick ratio of 0.95. ALLETE has a 1 year low of $55.86 and a 1 year high of $65.95. The company has a market capitalization of $3.79 billion, a P/E ratio of 21.02 and a beta of 0.80.

ALLETE (NYSE:ALE) last issued its quarterly earnings data on Wednesday, October 30th. The utilities provider reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.21). The business had revenue of $407.20 million during the quarter. ALLETE had a return on equity of 5.99% and a net margin of 11.49%. The firm’s revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.49 earnings per share.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on ALLETE in a research report on Friday, January 10th. They set a “hold” rating for the company.

ALLETE Company Profile

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. In addition, 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 150,000 retail customers and 14 non-affiliated municipal customers.