ALLETE Inc (NYSE:ALE) has earned an average rating of “Hold” from the six research firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $79.06.
Several research analysts have issued reports on the company. Zacks Investment Research lowered GreenTree Hospitality Group from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a research report on Monday, May 13th.
Shares of NYSE:ALE traded down $1.46 during trading hours on Tuesday, hitting $85.92. 133,785 shares of the company’s stock traded hands, compared to its average volume of 256,801. ALLETE has a 1 year low of $72.42 and a 1 year high of $87.57. The firm has a fifty day simple moving average of $84.80. The firm has a market cap of $4.44 billion, a price-to-earnings ratio of 23.80, a P/E/G ratio of 3.29 and a beta of 0.25. The company has a quick ratio of 1.50, a current ratio of 1.73 and a debt-to-equity ratio of 0.69.
ALLETE (NYSE:ALE) last announced its earnings results on Thursday, May 2nd. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.19 by ($0.01). ALLETE had a net margin of 12.93% and a return on equity of 9.11%. The business had revenue of $357.20 million for the quarter, compared to analysts’ expectations of $364.00 million. During the same quarter last year, the firm earned $0.99 EPS. The firm’s quarterly revenue was down .3% on a year-over-year basis. On average, analysts predict that ALLETE will post 3.63 EPS for the current year.
In other news, CFO Robert John Adams sold 2,885 shares of ALLETE stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $82.45, for a total transaction of $237,868.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kathryn W. Dindo sold 735 shares of ALLETE stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $82.03, for a total transaction of $60,292.05. The disclosure for this sale can be found here. Insiders have sold 13,620 shares of company stock valued at $1,131,100 in the last ninety days. Insiders own 0.43% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. 6 Meridian raised its stake in ALLETE by 2.1% in the second quarter. 6 Meridian now owns 6,465 shares of the utilities provider’s stock worth $538,000 after buying an additional 131 shares in the last quarter. FDx Advisors Inc. raised its stake in ALLETE by 3.4% in the second quarter. FDx Advisors Inc. now owns 4,723 shares of the utilities provider’s stock worth $393,000 after buying an additional 157 shares in the last quarter. Advisor Group Inc. raised its stake in ALLETE by 6.5% in the fourth quarter. Advisor Group Inc. now owns 2,853 shares of the utilities provider’s stock worth $218,000 after buying an additional 173 shares in the last quarter. United Services Automobile Association raised its stake in ALLETE by 0.5% in the fourth quarter. United Services Automobile Association now owns 38,130 shares of the utilities provider’s stock worth $2,906,000 after buying an additional 193 shares in the last quarter. Finally, CWM LLC raised its stake in ALLETE by 93.4% in the first quarter. CWM LLC now owns 410 shares of the utilities provider’s stock worth $34,000 after buying an additional 198 shares in the last quarter. 71.65% of the stock is owned by hedge funds and other institutional investors.
ALLETE Company Profile
ALLETE, Inc operates as an energy company. The company operates through three segments: Regulated Operations, ALLETE Clean Energy, and U.S. Water Services. It generates electricity from coal-fired, wind, hydroelectric, natural gas-fired, biomass co-fired, solar, and other sources. The company provides regulated utility electric, natural gas, and water services in northwestern Wisconsin to approximately 15,000 electric customers, 13,000 natural gas customers, and 10,000 water customers, as well as regulated utility electric services in northeastern Minnesota to approximately 145,000 retail customers and 16 non-affiliated municipal customers.
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