News headlines about ALLETE (NYSE:ALE) have been trending somewhat positive on Wednesday, according to Accern Sentiment Analysis. Accern rates the sentiment of media coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. ALLETE earned a news impact score of 0.19 on Accern’s scale. Accern also gave media coverage about the utilities provider an impact score of 46.8551172493354 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
Here are some of the news headlines that may have impacted Accern’s analysis:
- Martingale Asset Management L P Trims Stake in ALLETE Inc (ALE) (americanbankingnews.com)
- Swiss National Bank Purchases 1,700 Shares of ALLETE Inc (ALE) (americanbankingnews.com)
- ALLETE Inc (ALE) Shares Sold by Royce & Associates LP (americanbankingnews.com)
- Eagle Asset Management Inc. Sells 201,522 Shares of ALLETE Inc (ALE) (americanbankingnews.com)
- Citadel Advisors LLC Has $3.20 Million Holdings in ALLETE Inc (ALE) (americanbankingnews.com)
Shares of ALLETE (NYSE:ALE) opened at $68.25 on Wednesday. The company has a market capitalization of $3,579.03, a PE ratio of 20.19, a price-to-earnings-growth ratio of 3.41 and a beta of 0.33. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.77 and a current ratio of 1.05. ALLETE has a 12 month low of $64.56 and a 12 month high of $81.24.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be paid a dividend of $0.56 per share. The ex-dividend date is Wednesday, February 14th. This is a positive change from ALLETE’s previous quarterly dividend of $0.54. This represents a $2.24 annualized dividend and a yield of 3.28%. ALLETE’s dividend payout ratio is currently 66.27%.
Several equities analysts recently commented on the company. Zacks Investment Research lowered ALLETE from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. JPMorgan Chase & Co. dropped their price target on ALLETE from $76.00 to $73.00 and set an “underweight” rating for the company in a research note on Thursday, January 25th. Wells Fargo & Co set a $71.00 price target on ALLETE and gave the stock a “hold” rating in a research note on Tuesday, February 13th. Guggenheim restated a “hold” rating and set a $63.00 price target on shares of ALLETE in a research note on Friday, February 23rd. Finally, Williams Capital upgraded ALLETE from a “hold” rating to a “buy” rating and set a $76.00 price target for the company in a research note on Friday, February 2nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $74.83.
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ALLETE, Inc is an energy company. The Company’s segments include Regulated Operations, ALLETE Clean Energy, Inc (ALLETE Clean Energy), U.S. Water Services Holding Company (U.S. Water Services), and Corporate and Other. The Regulated Operations segment includes its regulated utilities, Minnesota Power, and Superior Water, Light and Power Company, and its investment in American Transmission Company LLC.
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