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

Cornelia Mascio
Ottobre 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 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.

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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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