ALLETE Inc. (NYSE: ALE) has reported earnings for its third fiscal quarter (ending September 30) of $0.78 versus $1.50 for the same period a year ago — a decline of -48%. For the latest four quarters through September 30, E.P.S. were $3.12 versus $4.31 for the same period a year ago — a decline of -28%.
Recent Price Action
ALLETE Inc. (NYSE: ALE) stock closed at $64.01 on 10/30/24 after a slight decline of -0.1%. Moreover, trading volume in this decline was above average at 141% of normal. The stock has been strong relative to the market over the last nine months but is unchanged during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, ALE is expected to continue to be a modest Value Builder.
ALLETE has a current Value Trend Rating of A (Highest Rating). The Value Trend Rating reflects consistent signals from PTR’s two proprietary measures of a stock’s attractiveness. ALLETE has a slightly positive Appreciation Score of 70 and a good Power Rating of 78, leading to the Highest Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of A. This review will be completed in the next several days.
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