Allete, Inc. (ALE) Raised to "Hold" at Zacks Investment Research

Cornelia Mascio
Октября 13, 2017

Loomis Sayles LP owns 348,439 shares or 0.06% of their U.S. portfolio. Whittier Trust stated it has 0% of its portfolio in ALLETE Inc (NYSE:ALE).

A number of institutional investors have recently added to or reduced their stakes in the business. Panagora Asset Mgmt Incorporated owns 0.13% invested in ALLETE Inc (NYSE:ALE) for 457,506 shares. The Regulated Operations segment includes its regulated utilities, Minnesota Power, and Superior Water, Light and Power Company (SWL&P), as well as its investment in American Transmission Company LLC (ATC), a regulated utility that owns and maintains electric transmission assets in parts of Wisconsin, Michigan, Minnesota and IL.

Tfs Capital Llc decreased Allete Inc (ALE) stake by 73.89% reported in 2017Q2 SEC filing. The Exane Derivatives holds 95,316 shares with $7.75 billion value, down from 106,316 last quarter. Cetera Investment Advisers increased its stake in Allete by 0.7% in the 2nd quarter. Principal Financial Group Inc. now owns 1,447,846 shares of the utilities provider's stock valued at $103,782,000 after purchasing an additional 700,647 shares in the last quarter. LS Investment Advisors LLC now owns 1,890 shares of the utilities provider's stock valued at $135,000 after purchasing an additional 100 shares in the last quarter. Bronfman E.L. Rothschild L.P. now owns 1,872 shares of the utilities provider's stock valued at $134,000 after purchasing an additional 49 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Allete by 5.1% in the second quarter. Municipal Employees Retirement System of MI now owns 11,270 shares of the utilities provider's stock valued at $763,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 70.99% of the company's stock. The legal version of this piece of content can be viewed at https://www.dispatchtribunal.com/2017/10/13/allete-inc-ale-raised-to-hold-at-zacks-investment-research.html. The rating was upgraded by Wunderlich on Tuesday, December 8 to "Buy". Zacks Investment Research raised Allete from a "sell" rating to a "hold" rating in a research report on Tuesday. ValuEngine cut Allete from a "buy" rating to a "hold" rating in a report on Monday, October 2nd. The firm has "Underweight" rating by JP Morgan given on Thursday, October 12. One research analyst has rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Finally, Williams Capital lifted their price target on shares of Allete from $75.00 to $78.00 and gave the stock a buy rating in a research note on Monday, June 19th.

In related news, Director Madeleine W. Ludlow sold 2,500 shares of the firm's stock in a transaction that occurred on Tuesday, August 8th. The company now has a consensus rating of Hold and an average price target of $77.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

In the market the company is trading up by 0.93% percent from yesterday's close. Allete has a 52 week low of $56.48 and a 52 week high of $79.61. Boston Partners has 0.01% invested in ALLETE Inc (NYSE:ALE). CM's profit will be $922.22 million for 10.70 P/E if the $2.10 EPS becomes a reality. The firm has a 50 day moving average of $77.82 and a 200 day moving average of $73.09. ALLETE Inc (NYSE:ALE) has risen 26.32% since October 11, 2016 and is uptrending. The volume of 0.09 Million shares climbed down over an trading activity of 83.36 Million shares. Allete had a return on equity of 9.21% and a net margin of 12.09%. The firm had revenue of $353.30 million during the quarter, compared to analyst estimates of $342.50 million. They expect $2.10 earnings per share, up 6.06% or $0.12 from last year's $1.98 per share. The company's revenue for the quarter was up 12.2% compared to the same quarter previous year.

About 3,338 shares traded.

ILLEGAL ACTIVITY NOTICE: "Allete, Inc. (ALE) Stake Boosted by Westwood Holdings Group Inc." was originally published by TrueBlueTribune and is the sole property of of TrueBlueTribune. If you are viewing this piece of content on another publication, it was illegally stolen and reposted in violation of United States & global trademark and copyright laws.

ALLETE, Inc., launched on January 25, 1906, is an energy company. The Company's divisions include Regulated Operations, ALLETE Clean Energy, Inc., U.S. The company has market cap of $4.00 billion.

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