Earnings estimates for ALLETE, Inc. (ALE - Free Report) have been revised upward in the past 30 days, reflecting analysts’ optimism on the stock. The Zacks Consensus Estimate for 2019 and 2020 earnings has inched up 0.6% and 0.8%, respectively.
Let’s focus on the factors that make the stock an appropriate pick at the moment.
Zacks Rank & Earnings EstimateRevision
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Earnings estimates for ALLETE for 2019 and 2020 rose 0.55% and 7.16% on a year-over-year basis to $3.63 and $3.89 per share, respectively.
Long-Term Growth & Dividend Yield
The company’s long-term (3 to 5 years) earnings growth is pegged at 7.20%.
Currently, the company has a dividend yield of 2.78% compared with the Zacks S&P 500 composite’s 1.96%.
Debt-to-Capital Ratio
The debt-to-capital ratio is a good indicator of the financial position of a company. The indicator shows how much debt is used to conduct the business. Currently, ALLETE has a debt-to-capital ratio of 40.95% compared with the industry’s 50.12% and Zacks S&P 500 composite’s 43.02%
Long-Term Price Performance
On a long-term basis, the company has outperformed the industry. In the past 5 years, ALLETE’s shares have rallied 75.7% compared with the industry’s rise of 17.6%.
Long-Term Plans
The company plans to invest $1,815 million from 2019 to 2023. The company expects to achieve 5-7% earnings growth in the said period.
Other Key Picks
Some other top-ranked stocks from the same industry are PNM Resources, Inc (PNM - Free Report) , FirstEnergy Corporation (FE - Free Report) and Black Hills Corporation (BKH - Free Report) , each holding a Zacks Rank of 2.
PNM Resources pulled off an average positive earnings surprise of 15.75% in the last four quarters. The company’s long-term earnings growth is pegged at 5.20%.
FirstEnergy pulled off an average positive earnings surprise of 5.09% in the last four quarters. The company’s long-term earnings growth is pegged at 6%.
Black Hills delivered an average positive earnings surprise of 5.69% in the last four quarters. The company’s long-term earnings growth is pegged at 4.80%
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Earnings estimates for ALLETE, Inc. (ALE - Free Report) have been revised upward in the past 30 days, reflecting analysts’ optimism on the stock. The Zacks Consensus Estimate for 2019 and 2020 earnings has inched up 0.6% and 0.8%, respectively.
Let’s focus on the factors that make the stock an appropriate pick at the moment.
Zacks Rank & Earnings EstimateRevision
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Earnings estimates for ALLETE for 2019 and 2020 rose 0.55% and 7.16% on a year-over-year basis to $3.63 and $3.89 per share, respectively.
Long-Term Growth & Dividend Yield
The company’s long-term (3 to 5 years) earnings growth is pegged at 7.20%.
Currently, the company has a dividend yield of 2.78% compared with the Zacks S&P 500 composite’s 1.96%.
Debt-to-Capital Ratio
The debt-to-capital ratio is a good indicator of the financial position of a company. The indicator shows how much debt is used to conduct the business. Currently, ALLETE has a debt-to-capital ratio of 40.95% compared with the industry’s 50.12% and Zacks S&P 500 composite’s 43.02%
Long-Term Price Performance
On a long-term basis, the company has outperformed the industry. In the past 5 years, ALLETE’s shares have rallied 75.7% compared with the industry’s rise of 17.6%.
Long-Term Plans
The company plans to invest $1,815 million from 2019 to 2023. The company expects to achieve 5-7% earnings growth in the said period.
Other Key Picks
Some other top-ranked stocks from the same industry are PNM Resources, Inc (PNM - Free Report) , FirstEnergy Corporation (FE - Free Report) and Black Hills Corporation (BKH - Free Report) , each holding a Zacks Rank of 2.
PNM Resources pulled off an average positive earnings surprise of 15.75% in the last four quarters. The company’s long-term earnings growth is pegged at 5.20%.
FirstEnergy pulled off an average positive earnings surprise of 5.09% in the last four quarters. The company’s long-term earnings growth is pegged at 6%.
Black Hills delivered an average positive earnings surprise of 5.69% in the last four quarters. The company’s long-term earnings growth is pegged at 4.80%
Will you retire a millionaire?
One out of every six people retires a multimillionaire. Get smart tips you can do today to become one of them in a new Special Report, “7 Things You Can Do Now to Retire a Multimillionaire.”
Click to get it free >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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