Skandinaviska Enskilda Banken AB publ Has $4.59 Million Position in Allete, Inc. $ALE

Skandinaviska Enskilda Banken AB publ raised its holdings in Allete, Inc. (NYSE:ALE) by 26.5% in the second quarter, HoldingsChannel.com reports. The firm owned 71,672 shares of the utilities provider’s stock after purchasing an additional 15,000 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Allete were worth $4,592,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in ALE. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Allete by 33.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 12,550 shares of the utilities provider’s stock valued at $814,000 after purchasing an additional 3,179 shares in the last quarter. Cannon Global Investment Management LLC lifted its holdings in Allete by 152.2% during the 2nd quarter. Cannon Global Investment Management LLC now owns 22,700 shares of the utilities provider’s stock worth $1,454,000 after buying an additional 13,700 shares during the period. Intech Investment Management LLC boosted its holdings in Allete by 37.8% in the first quarter. Intech Investment Management LLC now owns 40,204 shares of the utilities provider’s stock valued at $2,641,000 after acquiring an additional 11,019 shares during the last quarter. Eisler Capital Management Ltd. increased its position in shares of Allete by 8.3% during the second quarter. Eisler Capital Management Ltd. now owns 54,153 shares of the utilities provider’s stock worth $3,467,000 after buying an additional 4,130 shares during the period. Finally, Vise Technologies Inc. acquired a new stake in Allete during the 2nd quarter worth about $700,000. Institutional investors own 76.55% of the company’s stock.

Allete Stock Up 0.1%

Allete stock opened at $67.62 on Monday. The firm has a 50 day simple moving average of $67.07 and a 200 day simple moving average of $65.63. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of 21.33 and a beta of 0.84. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 0.57. Allete, Inc. has a 1-year low of $62.38 and a 1-year high of $67.64.

Allete (NYSE:ALE) last issued its earnings results on Thursday, October 30th. The utilities provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.34). Allete had a return on equity of 5.71% and a net margin of 11.98%.The company had revenue of $375.00 million during the quarter, compared to the consensus estimate of $434.90 million.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ALE shares. Wall Street Zen lowered shares of Allete from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Weiss Ratings restated a “buy (b-)” rating on shares of Allete in a report on Tuesday, November 25th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy”.

About Allete

ALLETE, Inc operates as an energy company. The company operates through Regulated Operations, ALLETE Clean Energy, and Corporate and Other segments. It generates electricity from coal-fired, biomass co-fired / natural gas, hydroelectric, wind, and solar. In addition, the company provides regulated utility electric 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 150,000 retail customers and 14 non-affiliated municipal customers.