ALLETE Inc (NYSE:ALE) has received an average rating of “Hold” from the six analysts that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $77.67.
A number of equities research analysts have commented on ALE shares. Zacks Investment Research raised ALLETE from a “sell” rating to a “hold” rating and set a $88.00 target price for the company in a report on Tuesday, October 10th. JPMorgan Chase & Co. raised their target price on ALLETE from $66.00 to $73.00 and gave the company an “underweight” rating in a report on Thursday, October 12th. Ladenburg Thalmann Financial Services cut ALLETE from a “buy” rating to a “neutral” rating and set a $78.00 price target for the company. in a research report on Friday, October 20th. Williams Capital restated a “hold” rating and issued a $79.00 price target on shares of ALLETE in a research report on Thursday, October 12th. Finally, ValuEngine cut ALLETE from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. California Public Employees Retirement System raised its holdings in shares of ALLETE by 10.9% in the 3rd quarter. California Public Employees Retirement System now owns 72,973 shares of the utilities provider’s stock worth $5,640,000 after buying an additional 7,173 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its holdings in ALLETE by 7.0% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 15,215 shares of the utilities provider’s stock valued at $1,176,000 after purchasing an additional 992 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in ALLETE during the 3rd quarter valued at $289,000. Rocky Mountain Advisers LLC acquired a new stake in ALLETE during the 3rd quarter valued at $108,000. Finally, Envestnet Asset Management Inc. increased its holdings in ALLETE by 30.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 3,182 shares of the utilities provider’s stock valued at $247,000 after purchasing an additional 743 shares in the last quarter. Institutional investors own 73.20% of the company’s stock.
Shares of ALLETE (NYSE ALE) traded down $0.18 during midday trading on Friday, hitting $72.54. The company had a trading volume of 290,000 shares, compared to its average volume of 299,638. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.71. ALLETE has a 52-week low of $62.04 and a 52-week high of $81.24. The firm has a market capitalization of $3,700.00, a P/E ratio of 20.97, a PEG ratio of 2.92 and a beta of 0.47.
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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.
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