3. ALLETE ( ALE) is an energy company operating in two business segments: regulated operations, investments and other. Regulated operations include utilities Minnesota Power and Superior Water, Light and Power Company and American Transmission Company. The investment and other businesses include BNI Coal, mining operations in North Dakota ALLETE Properties and Florida real estate investment.

Of the six analysts covering the stock, three rate it a buy. The stock's average 12-month price target is $44.50, which is 12.7% higher than the current price, as per a Bloomberg consensus.

For the third quarter, the company recorded net income of $20.5 million, or 57 cents per share, on revenue of $226.9 million, compared to $19.6 million, or 56 cents per share, on revenue of $224.1 million in the same quarter prior year. During the quarter, dividend per share increased to 44.5 cents per share from 44 cents per share recorded in the year-ago quarter.

During the quarter, total kilowatt hours sold to retail and municipal services increased to 2,742 million, vs. 2,688 million in the year-earlier quarter.

The company plans to achieve a target of average annual earnings per share growth of 5% every year while maintaining a competitive dividend, the company's CEO has said.

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