ALLETE (NYSE:ALE) Upgraded at ValuEngine

ALLETE (NYSE:ALE) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, ValuEngine reports.

Separately, Zacks Investment Research lowered ALLETE from a “hold” rating to a “sell” rating in a research report on Friday, September 27th.

ALE stock opened at $81.14 on Thursday. The company has a quick ratio of 0.44, a current ratio of 0.61 and a debt-to-equity ratio of 0.64. ALLETE has a 52-week low of $72.42 and a 52-week high of $88.60. The stock’s 50 day moving average is $85.80 and its two-hundred day moving average is $84.84. The company has a market capitalization of $4.13 billion, a PE ratio of 22.48, a P/E/G ratio of 3.08 and a beta of 0.14.

ALLETE (NYSE:ALE) last issued its earnings results on Wednesday, November 6th. The utilities provider reported $0.60 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.03). The firm had revenue of $288.30 million during the quarter, compared to analyst estimates of $305.75 million. ALLETE had a return on equity of 8.54% and a net margin of 14.23%. ALLETE’s revenue was down 17.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.59 EPS. As a group, sell-side analysts anticipate that ALLETE will post 3.6 EPS for the current year.

In other news, CEO Alan R. Hodnik sold 6,000 shares of ALLETE stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $86.98, for a total value of $521,880.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.43% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of ALE. Arizona State Retirement System boosted its position in ALLETE by 1.3% during the 2nd quarter. Arizona State Retirement System now owns 37,467 shares of the utilities provider’s stock valued at $3,118,000 after purchasing an additional 473 shares during the period. First Trust Advisors LP boosted its position in ALLETE by 11.9% during the 2nd quarter. First Trust Advisors LP now owns 423,870 shares of the utilities provider’s stock valued at $35,270,000 after purchasing an additional 45,205 shares during the period. CWM LLC boosted its position in ALLETE by 40.0% during the 2nd quarter. CWM LLC now owns 574 shares of the utilities provider’s stock valued at $48,000 after purchasing an additional 164 shares during the period. Advisor Group Inc. boosted its position in ALLETE by 20.2% during the 2nd quarter. Advisor Group Inc. now owns 3,405 shares of the utilities provider’s stock valued at $284,000 after purchasing an additional 573 shares during the period. Finally, BlackRock Inc. boosted its position in ALLETE by 1.6% during the 2nd quarter. BlackRock Inc. now owns 6,187,056 shares of the utilities provider’s stock valued at $514,825,000 after purchasing an additional 99,981 shares during the period. Institutional investors own 71.88% of the company’s stock.

About ALLETE

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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