Zacks Investment Research upgraded shares of ALLETE (NYSE:ALE) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning.

According to Zacks, “ALLETE is an energy company. In addition to its electric utilities, Minnesota Power and Superior Water, Light and Power of Wisconsin, ALLETE owns ALLETE Clean Energy, based in Duluth, U.S. Water Services headquartered in St. Michael, Minn., BNI Energy in Center, N.D., and has an eight percent equity interest in the American Transmission Co. “

Several other brokerages also recently commented on ALE. JPMorgan Chase & Co. lifted their target price on ALLETE from $66.00 to $73.00 and gave the stock an underweight rating in a report on Thursday, October 12th. Ladenburg Thalmann Financial Services downgraded ALLETE from a buy rating to a neutral rating and set a $78.00 target price on the stock. in a report on Friday, October 20th. Williams Capital reaffirmed a hold rating and set a $79.00 target price on shares of ALLETE in a report on Thursday, October 12th. Finally, ValuEngine downgraded ALLETE from a buy rating to a hold rating in a report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $80.25.

Shares of ALLETE (ALE) traded up $0.48 on Tuesday, reaching $73.48. The company’s stock had a trading volume of 346,400 shares, compared to its average volume of 299,850. The firm has a market cap of $3,750.00, a P/E ratio of 21.24, a PEG ratio of 2.90 and a beta of 0.47. ALLETE has a 52-week low of $62.04 and a 52-week 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.

ALLETE (NYSE:ALE) last announced its earnings results on Wednesday, November 1st. The utilities provider reported $1.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.09. ALLETE had a return on equity of 9.21% and a net margin of 12.31%. equities research analysts forecast that ALLETE will post 3.21 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of the company. Cetera Investment Advisers raised its position in shares of ALLETE by 0.7% in the 2nd quarter. Cetera Investment Advisers now owns 4,883 shares of the utilities provider’s stock worth $350,000 after acquiring an additional 35 shares in the last quarter. Advisor Group Inc. raised its position 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 worth $140,000 after acquiring an additional 45 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of ALLETE by 1.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,308 shares of the utilities provider’s stock worth $596,000 after acquiring an additional 109 shares in the last quarter. Coldstream Capital Management Inc. raised its position in shares of ALLETE by 3.7% in the 2nd quarter. Coldstream Capital Management Inc. now owns 3,141 shares of the utilities provider’s stock worth $225,000 after acquiring an additional 111 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its position 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 worth $198,000 after acquiring an additional 115 shares in the last quarter. 73.20% of the stock is owned by hedge funds and other institutional investors.

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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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