Allete, Inc. (NYSE:ALE) Given Price Target Of $65.166


As per Allete, Inc. (NYSE:ALE)’s news release on 2016-07-28, its shareholders will get cash dividend of $0.52 per share. The recent press release updated on the record date and payout date, which stands at 2016-08-15 and 2016-09-01, respectively.

The stock will commence trading ex-dividend from 2016-08-11, until, which the shareholders are compelled to keep the holdings so as to qualify for the dividend. Evaluating the dividend distribution mode, it was noted that last year Allete, Inc. (NYSE:ALE) disbursed $0.52 in dividend compared to distribution of $0.52, a year ago.

It highlights a sharp difference in cash payouts of the two years. This shows a major deviation of 3.0612%.

Analyst Perspective

The sell-side market professionals who track the firm’s financial and technical parameters have estimated Allete, Inc. (NYSE:ALE) to attain a price target of $65.166. It is an average estimate figure given by 3 analysts tracking the stock. The estimates disclosed that the stock can move up on the chart and hit a high of $66. The low price range is set at $64.5 for next year while the arithmetic mean is seen at 1.5.

Eyeing Earnings Allete, Inc. (NYSE:ALE) is likely to post quarterly numbers around 2016-11-01 for the quarter ending 2016-09-30. The quarterly EPS projection is set at $0.98 for the period ending on 2016-09-30.

In last quarter ended 2015-12-31, Allete, Inc. (NYSE:ALE) earnings came at $0.5 suggesting a deviation of $-0.01. The brokerages targeted EPS of $0.51 for the quarter.

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