Brokerages Set ALLETE Inc (ALE) PT at $77.67

ALLETE Inc (NYSE:ALE) has been given a consensus rating of “Hold” by the six research firms that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $77.67.

Several equities analysts recently issued reports on ALE shares. ValuEngine upgraded shares of ALLETE from a “hold” rating to a “buy” rating in a research report on Thursday, September 7th. Zacks Investment Research cut shares of ALLETE from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Ladenburg Thalmann Financial Services cut shares of ALLETE from a “buy” rating to a “neutral” rating and set a $78.00 price target on the stock. in a research report on Friday, October 20th. J P Morgan Chase & Co boosted their price target on shares of ALLETE from $73.00 to $76.00 and gave the company an “underweight” rating in a research report on Wednesday, November 15th. Finally, Williams Capital reiterated a “hold” rating and set a $79.00 price target on shares of ALLETE in a research report on Thursday, October 12th.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rocky Mountain Advisers LLC bought a new stake in ALLETE during the third quarter worth about $108,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in ALLETE by 8.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,802 shares of the utilities provider’s stock worth $129,000 after acquiring an additional 141 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in ALLETE by 2.7% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,872 shares of the utilities provider’s stock worth $134,000 after acquiring an additional 49 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in ALLETE by 925.0% during the third quarter. Meeder Asset Management Inc. now owns 1,763 shares of the utilities provider’s stock worth $136,000 after acquiring an additional 1,591 shares in the last quarter. Finally, Advisor Group Inc. boosted its stake in ALLETE by 2.1% during the second quarter. Advisor Group Inc. now owns 2,164 shares of the utilities provider’s stock worth $140,000 after acquiring an additional 45 shares in the last quarter. Institutional investors own 73.20% of the company’s stock.

Shares of ALLETE (NYSE:ALE) traded down $0.53 during midday trading on Monday, hitting $73.60. 177,262 shares of the company traded hands, compared to its average volume of 221,828. ALLETE has a one year low of $61.64 and a one year high of $81.24. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.34 and a quick ratio of 0.98. The stock has a market capitalization of $3,815.22, a PE ratio of 20.65, a P/E/G ratio of 3.23 and a beta of 0.47.

The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Wednesday, November 15th were given a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 2.91%. The ex-dividend date was Tuesday, November 14th. ALLETE’s dividend payout ratio is currently 61.85%.

ILLEGAL ACTIVITY WARNING: “Brokerages Set ALLETE Inc (ALE) PT at $77.67” was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this report on another publication, it was stolen and reposted in violation of US and international copyright & trademark laws. The original version of this report can be viewed at https://www.dispatchtribunal.com/2018/01/13/brokerages-set-allete-inc-ale-pt-at-77-67.html.

About ALLETE

ALLETE, Inc is an energy company. The Company’s segments include Regulated Operations, ALLETE Clean Energy, Inc (ALLETE Clean Energy), U.S. Water Services Holding Company (U.S. Water Services), and Corporate and Other. The Regulated Operations segment includes its regulated utilities, Minnesota Power, and Superior Water, Light and Power Company, and its investment in American Transmission Company LLC.

Receive News & Ratings for ALLETE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ALLETE and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply