Revenue Update on ALLETE Inc(NYSE:ALE)

ALLETE Inc(NYSE:ALE) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 3, 2016. Company reported revenue of $314.80M. Analysts estimated a revenue of $326.70M. Earnings per share were $0.50. Analysts had estimated an EPS of $0.53.

ALLETE Inc (ALE) shares turned negative on Fridays trading session with the shares closing down -0.17 points or -0.28% at a volume of 1,36,067. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $61.62. The peak price level was also seen at $61.62 while the days lowest was $61.07. Finally the shares closed at $61.12. The 52-week high of the shares is $65.41 while the 52-week low is $45.86. According to the latest information available, the market cap of the company is $3,018 M.

Several Insider Transactions has been reported to the SEC. On May 9, 2016, Steven Wayne Morris (Controller) sold 392 shares at $56.15 per share price.Also, 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.

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