Allete, Inc. (NYSE:ALE) Short Interest Down 97.6% in December

Allete, Inc. (NYSE:ALE) saw a large decrease in short interest during the month of December. As of December 15th, there was short interest totaling 18,268 shares, a decrease of 97.6% from the November 30th total of 767,793 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average trading volume of 1,352,225 shares, the days-to-cover ratio is currently 0.0 days. Based on an average trading volume of 1,352,225 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.0% of the company’s shares are short sold.

Institutional Trading of Allete

Hedge funds and other institutional investors have recently modified their holdings of the stock. Triumph Capital Management acquired a new position in Allete during the third quarter valued at approximately $27,000. CX Institutional raised its stake in shares of Allete by 67.3% during the 3rd quarter. CX Institutional now owns 445 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 179 shares in the last quarter. IFP Advisors Inc boosted its holdings in shares of Allete by 3,456.3% in the 2nd quarter. IFP Advisors Inc now owns 569 shares of the utilities provider’s stock valued at $40,000 after buying an additional 553 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Allete by 151.7% in the third quarter. Smartleaf Asset Management LLC now owns 579 shares of the utilities provider’s stock valued at $38,000 after buying an additional 349 shares in the last quarter. Finally, Bayforest Capital Ltd bought a new position in shares of Allete in the second quarter valued at $45,000. Institutional investors and hedge funds own 76.55% of the company’s stock.

Analyst Upgrades and Downgrades

ALE has been the subject of a number of analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Allete in a report on Monday, December 15th. Wall Street Zen lowered shares of Allete from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Allete Stock Down 0.0%

NYSE ALE traded down $0.03 during trading on Friday, hitting $67.91. The stock had a trading volume of 4,393,968 shares, compared to its average volume of 1,046,065. Allete has a 12 month low of $62.38 and a 12 month high of $67.99. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.17. The company’s 50-day moving average price is $67.57 and its two-hundred day moving average price is $65.98. The company has a market capitalization of $3.95 billion, a PE ratio of 23.83 and a beta of 0.83.

Allete (NYSE:ALE) last announced its quarterly earnings data on Thursday, October 30th. The utilities provider reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.34). The business had revenue of $375.00 million during the quarter, compared to the consensus estimate of $434.90 million. Allete had a return on equity of 5.08% and a net margin of 11.04%.

Allete Company Profile

Allete, Inc (NYSE: ALE) is a diversified energy company headquartered in Duluth, Minnesota, whose core operations span regulated electric utility services, renewable energy development and complementary energy-related businesses. Through its principal subsidiary, Minnesota Power, the company delivers electricity to residential, commercial and industrial customers across northeastern Minnesota, leveraging a mix of hydroelectric, coal-fired and natural gas–fired generation assets.

In addition to its utility operations, Allete has expanded into renewable energy through ALLETE Clean Energy, a division focused on the development, ownership and operation of wind and solar projects in the United States.