Somewhat Negative Press Coverage Somewhat Unlikely to Affect Allete (ALE) Share Price
News coverage about Allete (NYSE:ALE) has been trending somewhat negative recently, according to Accern. The research firm rates the sentiment of press coverage by analyzing more than 20 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 media sentiment score of -0.07 on Accern’s scale. Accern also gave news articles about the utilities provider an impact score of 44.5521362137126 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.
Several brokerages recently commented on ALE. Zacks Investment Research cut Allete from a “hold” rating to a “sell” rating in a research report on Friday, November 17th. J P Morgan Chase & Co increased their price target on Allete from $73.00 to $76.00 and gave the company an “underweight” rating in a research report on Wednesday, November 15th. Ladenburg Thalmann Financial Services cut Allete from a “buy” rating to a “neutral” rating and set a $78.00 price target for the company. in a research report on Friday, October 20th. Williams Capital reissued a “hold” rating and set a $79.00 price target on shares of Allete in a research report on Thursday, October 12th. Finally, ValuEngine cut Allete from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the company. Allete has a consensus rating of “Hold” and an average price target of $80.25.
Allete (NYSE ALE) traded up $0.30 on Friday, hitting $78.18. The stock had a trading volume of 68,626 shares, compared to its average volume of 214,756. Allete has a 52 week low of $60.97 and a 52 week high of $80.00. The firm has a market capitalization of $4,010.00, a PE ratio of 21.51, a price-to-earnings-growth ratio of 3.97 and a beta of 0.47. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.98 and a current ratio of 1.34.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be given a $0.535 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $2.14 dividend on an annualized basis and a dividend yield of 2.74%. Allete’s payout ratio is 61.85%.
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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