ALLETE Inc (NYSE:ALE) Director James J. Hoolihan sold 800 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $76.49, for a total value of $61,192.00. Following the completion of the transaction, the director now owns 13,632 shares in the company, valued at approximately $1,042,711.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

James J. Hoolihan also recently made the following trade(s):

  • On Thursday, July 26th, James J. Hoolihan sold 800 shares of ALLETE stock. The shares were sold at an average price of $77.62, for a total value of $62,096.00.
  • On Tuesday, June 26th, James J. Hoolihan sold 800 shares of ALLETE stock. The shares were sold at an average price of $77.22, for a total value of $61,776.00.

NYSE ALE opened at $75.69 on Friday. The company has a market capitalization of $3.84 billion, a PE ratio of 23.73, a PEG ratio of 3.73 and a beta of 0.30. ALLETE Inc has a 1-year low of $66.64 and a 1-year high of $81.24. The company has a current ratio of 1.21, a quick ratio of 0.80 and a debt-to-equity ratio of 0.69.

ALLETE (NYSE:ALE) last released its earnings results on Thursday, August 2nd. The utilities provider reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.11). The firm had revenue of $344.10 million during the quarter, compared to analysts’ expectations of $343.00 million. ALLETE had a net margin of 12.02% and a return on equity of 8.04%. The business’s revenue was down 2.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.72 EPS. research analysts predict that ALLETE Inc will post 3.34 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, September 1st. Investors of record on Wednesday, August 15th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Tuesday, August 14th. This represents a $2.24 dividend on an annualized basis and a yield of 2.96%. ALLETE’s payout ratio is 70.22%.

A number of institutional investors have recently made changes to their positions in ALE. Polaris Capital Management LLC lifted its position in ALLETE by 64.5% during the first quarter. Polaris Capital Management LLC now owns 822,800 shares of the utilities provider’s stock worth $59,447,000 after buying an additional 322,600 shares in the last quarter. Advantus Capital Management Inc purchased a new position in ALLETE during the first quarter worth approximately $451,000. SG Americas Securities LLC purchased a new position in ALLETE during the first quarter worth approximately $1,157,000. Trexquant Investment LP lifted its position in ALLETE by 144.6% during the first quarter. Trexquant Investment LP now owns 20,430 shares of the utilities provider’s stock worth $1,476,000 after buying an additional 12,076 shares in the last quarter. Finally, Bbva Compass Bancshares Inc. lifted its position in ALLETE by 12.7% during the first quarter. Bbva Compass Bancshares Inc. now owns 12,537 shares of the utilities provider’s stock worth $906,000 after buying an additional 1,409 shares in the last quarter. Hedge funds and other institutional investors own 73.28% of the company’s stock.

Several equities analysts have recently weighed in on the company. Zacks Investment Research upgraded ALLETE from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a research report on Tuesday, May 15th. Guggenheim restated a “hold” rating and issued a $71.00 target price on shares of ALLETE in a research report on Monday, July 23rd. Williams Capital downgraded ALLETE from a “buy” rating to a “hold” rating and decreased their target price for the company from $76.00 to $73.00 in a research report on Monday, June 11th. ValuEngine downgraded ALLETE from a “buy” rating to a “hold” rating in a research report on Friday, August 24th. Finally, Mizuho downgraded ALLETE from a “buy” rating to a “neutral” rating and set a $71.50 target price on the stock. in a research report on Monday, May 7th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $73.64.

ALLETE Company Profile

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, natural gas-fired, biomass co-fired, hydroelectric, wind, solar, and other sources. The company provides regulated 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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