Shares of ALLETE Inc (NYSE:ALE) have been assigned a consensus recommendation of “Hold” from the six research firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $77.67.
ALE has been the topic of several recent research reports. Zacks Investment Research lowered ALLETE from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Ladenburg Thalmann Financial Services lowered 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. JPMorgan Chase & Co. raised their price target on ALLETE from $73.00 to $76.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 15th. 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 lowered ALLETE from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd.
A number of hedge funds have recently bought and sold shares of ALE. Rocky Mountain Advisers LLC acquired a new stake in shares of ALLETE in the 3rd quarter valued at about $108,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of ALLETE by 8.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,802 shares of the utilities provider’s stock valued at $129,000 after purchasing an additional 141 shares during the period. Meeder Asset Management Inc. raised its stake in shares of ALLETE by 925.0% in the 3rd quarter. Meeder Asset Management Inc. now owns 1,763 shares of the utilities provider’s stock valued at $136,000 after purchasing an additional 1,591 shares during the period. Advisor Group Inc. raised its stake in shares of ALLETE by 2.1% in the 2nd quarter. Advisor Group Inc. now owns 2,164 shares of the utilities provider’s stock valued at $140,000 after purchasing an additional 45 shares during the period. Finally, Public Employees Retirement System of Ohio raised its stake in shares of ALLETE by 4.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,768 shares of the utilities provider’s stock valued at $198,000 after purchasing an additional 115 shares during the period. Hedge funds and other institutional investors own 73.20% of the company’s stock.
ALLETE (NYSE:ALE) traded down $0.18 during midday trading on Friday, hitting $72.54. The stock had a trading volume of 290,000 shares, compared to its average volume of 299,638. The firm has a market cap of $3,700.00, a PE ratio of 20.97, a P/E/G ratio of 2.92 and a beta of 0.47. ALLETE has a one year low of $62.04 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.
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ALLETE Company Profile
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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