Allete (ALE) Receives Daily Media Sentiment Score of 0.19
Media coverage about Allete (NYSE:ALE) has trended somewhat positive this week, Accern Sentiment Analysis reports. The research firm scores the sentiment of media coverage by analyzing more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Allete earned a daily sentiment score of 0.19 on Accern’s scale. Accern also assigned news coverage about the utilities provider an impact score of 46.7349371352875 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
These are some of the media stories that may have impacted Accern’s rankings:
- ALLETE, Inc. :ALE-US: Earnings Analysis: Q2, 2017 By the Numbers : August 28, 2017 (finance.yahoo.com)
- ALLETE : Robert P. Powers Named to ALLETE Board of Directors (4-traders.com)
- ALLETE, Inc. (ALE) Appoints Robert Powers to Board (streetinsider.com)
- Allete, Inc. (NYSE:ALE) Stock Closed 5.1% Above Its 50 Day Average (highlightpress.com)
ALE has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Allete from a “hold” rating to a “buy” rating and set a $81.00 target price on the stock in a research report on Wednesday, July 26th. BidaskClub upgraded shares of Allete from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. Williams Capital boosted their target price on shares of Allete from $75.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, June 19th. Finally, Ladenburg Thalmann Financial Services boosted their target price on shares of Allete from $71.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, June 9th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Allete has an average rating of “Buy” and an average target price of $75.38.
Allete (ALE) opened at 77.04 on Tuesday. The stock’s 50 day moving average price is $73.26 and its 200 day moving average price is $70.39. The firm has a market cap of $3.93 billion, a P/E ratio of 22.67 and a beta of 0.48. Allete has a 1-year low of $56.48 and a 1-year high of $77.30.
Allete (NYSE:ALE) last released its earnings results on Wednesday, August 2nd. The utilities provider reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.17. The company had revenue of $353.30 million during the quarter, compared to analysts’ expectations of $342.50 million. Allete had a return on equity of 9.21% and a net margin of 12.09%. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period last year, the firm earned $0.50 EPS. Equities research analysts predict that Allete will post $3.38 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be paid a $0.535 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $2.14 annualized dividend and a dividend yield of 2.78%. Allete’s dividend payout ratio (DPR) is currently 63.13%.
In related news, Director Madeleine W. Ludlow sold 2,500 shares of Allete stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $74.83, for a total transaction of $187,075.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.42% of the stock is owned by insiders.
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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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