Williams Capital Reaffirms Hold Rating for Allete, Inc. (ALE)

Williams Capital reaffirmed their hold rating on shares of Allete, Inc. (NYSE:ALE) in a research report released on Thursday, MarketBeat reports. Williams Capital currently has a $79.00 target price on the utilities provider’s stock.

Several other research analysts also recently weighed in on ALE. J P Morgan Chase & Co boosted their target price on shares of Allete from $66.00 to $73.00 and gave the company an underweight rating in a research note on Thursday. Zacks Investment Research raised shares of Allete from a sell rating to a hold rating and set a $88.00 price objective for the company in a research note on Tuesday, October 10th. ValuEngine downgraded shares of Allete from a buy rating to a hold rating in a research note on Monday, October 2nd. Finally, BidaskClub raised shares of Allete from a hold rating to a buy rating in a research note on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $79.25.

Shares of Allete (NYSE ALE) opened at 78.38 on Thursday. The firm has a market capitalization of $3.99 billion, a PE ratio of 23.06 and a beta of 0.48. The company’s 50-day moving average is $77.90 and its 200 day moving average is $73.20. Allete has a 52-week low of $56.48 and a 52-week high of $79.69.

Allete (NYSE:ALE) last announced its earnings results on Wednesday, August 2nd. The utilities provider reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.17. Allete had a net margin of 12.09% and a return on equity of 9.21%. The firm had revenue of $353.30 million during the quarter, compared to the consensus estimate of $342.50 million. During the same quarter in the previous year, the company posted $0.50 EPS. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. Equities analysts expect that Allete will post $3.37 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This piece was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece on another website, it was stolen and reposted in violation of international copyright & trademark legislation. The correct version of this piece can be read at https://ledgergazette.com/2017/10/15/williams-capital-reaffirms-hold-rating-for-allete-inc-ale.html.

In other news, Director Madeleine W. Ludlow sold 2,500 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $74.83, for a total transaction of $187,075.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.42% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Cetera Investment Advisers boosted its stake in Allete by 0.7% during the second quarter. Cetera Investment Advisers now owns 4,883 shares of the utilities provider’s stock valued at $350,000 after buying an additional 35 shares in the last quarter. Advisor Group Inc. boosted 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 valued at $140,000 after purchasing an additional 45 shares during the period. Amalgamated Bank boosted its position in shares of Allete by 0.8% in the 1st quarter. Amalgamated Bank now owns 6,318 shares of the utilities provider’s stock valued at $428,000 after purchasing an additional 49 shares during the period. Bronfman E.L. Rothschild L.P. boosted its position in shares of Allete by 2.7% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,872 shares of the utilities provider’s stock valued at $134,000 after purchasing an additional 49 shares during the period. Finally, Municipal Employees Retirement System of Michigan boosted its position in shares of Allete by 0.5% in the 1st quarter. Municipal Em

Several other research analysts also recently weighed in on ALE. J P Morgan Chase & Co boosted their target price on shares of Allete from $66.00 to $73.00 and gave the company an underweight rating in a research note on Thursday. Zacks Investment Research raised shares of Allete from a sell rating to a hold rating and set a $88.00 price objective for the company in a research note on Tuesday, October 10th. ValuEngine downgraded shares of Allete from a buy rating to a hold rating in a research note on Monday, October 2nd. Finally, BidaskClub raised shares of Allete from a hold rating to a buy rating in a research note on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $79.25.

Shares of Allete (NYSE ALE) opened at 78.38 on Thursday. The firm has a market capitalization of $3.99 billion, a PE ratio of 23.06 and a beta of 0.48. The company’s 50-day moving average is $77.90 and its 200 day moving average is $73.20. Allete has a 52-week low of $56.48 and a 52-week high of $79.69.

Allete (NYSE:ALE) last announced its earnings results on Wednesday, August 2nd. The utilities provider reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.17. Allete had a net margin of 12.09% and a return on equity of 9.21%. The firm had revenue of $353.30 million during the quarter, compared to the consensus estimate of $342.50 million. During the same quarter in the previous year, the company posted $0.50 EPS. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. Equities analysts expect that Allete will post $3.37 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This piece was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece on another website, it was stolen and reposted in violation of international copyright & trademark legislation. The correct version of this piece can be read at https://ledgergazette.com/2017/10/15/williams-capital-reaffirms-hold-rating-for-allete-inc-ale.html.

In other news, Director Madeleine W. Ludlow sold 2,500 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $74.83, for a total transaction of $187,075.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.42% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Cetera Investment Advisers boosted its stake in Allete by 0.7% during the second quarter. Cetera Investment Advisers now owns 4,883 shares of the utilities provider’s stock valued at $350,000 after buying an additional 35 shares in the last quarter. Advisor Group Inc. boosted 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 valued at $140,000 after purchasing an additional 45 shares during the period. Amalgamated Bank boosted its position in shares of Allete by 0.8% in the 1st quarter. Amalgamated Bank now owns 6,318 shares of the utilities provider’s stock valued at $428,000 after purchasing an additional 49 shares during the period. Bronfman E.L. Rothschild L.P. boosted its position in shares of Allete by 2.7% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,872 shares of the utilities provider’s stock valued at $134,000 after purchasing an additional 49 shares during the period. Finally, Municipal Employees Retirement System of Michigan boosted its position in shares of Allete by 0.5% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 11,270 shares of the utilities provider’s stock valued at $763,000 after purchasing an additional 60 shares during the period. 70.99% of the stock is currently owned by institutional investors.

About Allete

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.

Analyst Recommendations for Allete (NYSE:ALE)

Receive News & Ratings for Allete Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allete Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply