ALLETE Inc (ALE) reported quarterly earnings results on Wednesday, Aug-3-2016. The company reported $0.50 EPS for the quarter. Analysts had a consensus estimate of $0.50. The company posted revenue of $314.80 million in the period. The company’s revenue was down -2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 EPS.
Many Wall Street Analysts have commented on ALLETE Inc. Company shares were Upgraded by Williams Capital Group on May 25, 2016 to ” Buy”, Firm has raised the Price Target to $ 63 from a previous price target of $60 .
ALLETE Inc closed down -0.25 points or -0.39% at $63.75 with 2,02,197 shares getting traded on Tusday. Post opening the session at $63.83, the shares hit an intraday low of $63.72 and an intraday high of $64.46 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
In a different news, on May 9, 2016, Steven Wayne Morris (Controller) sold 392 shares at $56.15 per share price. According to the SEC, on Mar 10, 2016, Deborah A Amberg (SrVP, Gen. Counsel & Secretary) sold 14,722 shares at $55.90 per share price. On Feb 4, 2016, Madeleine W Ludlow (director) sold 200 shares at $52.55 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.