ALLETE Inc (ALE) Releases Earnings Results, Beats Expectations By $0.03 EPS

ALLETE Inc (ALE) reported quarterly earnings results on Tuesday, May-3-2016. The company said it had a profit of $0.93 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.90. The company posted revenue of $333.80 million in the period. The company’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 EPS.

Many Wall Street Analysts have commented on ALLETE Inc.

ALLETE Inc opened for trading at $56.19 and hit $57.275 on the upside on Monday, eventually ending the session at $57.01, with a gain of 1.46% or 0.82 points. The heightened volatility saw the trading volume jump to 2,74,729 shares. Company has a market cap of $2,800 M.

In a different news, on Mar 10, 2016, Deborah A Amberg (SrVP, Gen. Counsel & Secretary) sold 14,722 shares at $55.90 per share price. According to the SEC, on Feb 4, 2016, Madeleine W Ludlow (director) sold 200 shares at $52.55 per share price. On Aug 18, 2015, David J Mcmillan (SVP – External Affairs) sold 4,019 shares at $52.02 per share price, according to the Form-4 filing with the securities and exchange commission.

ALLETE Inc. is a provider of energy. The Company operates under the following segments: Regulated Operations and Investments and Other. The Company’s Regulated Operations segment includes its regulated utilities Minnesota Power and Superior Water Light and Power Co. (SWL&P) as well as its investment in American Transmission Company (ATC). The Investments and Other segment comprises its energy infrastructure and related services businesses ALLETE Clean Energy Inc. and BNI Coal Inc. Investments and Other segment also includes ALLETE Properties LLC other business development and corporate expenditures unallocated interest expense non-rate base generation approximately 5000 acres of land in Minnesota and earnings on cash and investments. The Company’s subsidiaries include ALLETE Clean Energy Inc. BNI Coal Inc. Rainy River Energy Corporation and ALLETE Properties LLC among others.


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