ALLETE Inc. (NYSE: ALE) has reported E.P.S. of $1.50 for its third fiscal quarter (ending September 30) versus $0.59 for the same period a year ago — an increase of 154%. Relative to the consensus estimate of $0.65, this was a premium of $0.85. E.P.S. were $4.31 for the latest four quarters through September 30 versus $3.66 for the same period a year ago — an increase of 18%.
Recent Price Action
On 11/2/23, ALLETE Inc. (NYSE: ALE) stock enjoyed a large increase of 4.7%, closing at $56.44. The stock has performed in line with the market over the last nine months and has risen 5.6% during the last week.
Current PriceTarget Research Rating
ALE is expected to continue to be a modest Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
ALLETE has a current Value Trend Rating of C (Neutral). This rating combines consistent signals from two proprietary PTR measures of a stock’s attractiveness. ALLETE has a slightly positive Appreciation Score of 67 and a neutral Power Rating of 42, resulting in the Neutral Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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