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Highest Projected Earnings Growth in the Electric Utilities Industry Detected in Shares of Allete (ALE, OGE, MGEE, PNM, OTTR)

By Shiri Gupta

Below are the three companies in the Electric Utilities industry with the highest projected earnings growth. The growth of earnings per share (current fiscal year estimated vs. last year actual) is important to gauge future profitability and relative value. Higher EPS growth generally justifies higher earnings multiples.

Allete ranks highest with a projected earnings growth of 18.2%. Following is OGE Energy with a projected earnings growth of 14.5%. MGE Energy ranks third highest with a projected earnings growth of 12.4%.

PNM Resources follows with a projected earnings growth of 10.5%, and Otter Tail rounds out the top five with a projected earnings growth of 7.3%.

SmarTrend recommended that subscribers consider buying shares of Allete on October 24th, 2016 as our technology indicated a new Uptrend was in progress when shares hit $59.65. Since that recommendation, shares of Allete have risen 24.2%. We continue to monitor Allete for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: highest projected earnings growth allete oge energy mge energy pnm resources otter tail

Ticker(s): ALE OGE MGEE PNM OTTR