ALLETE (NYSE:ALE) Earns Hold Rating from Analysts at StockNews.com

Equities research analysts at StockNews.com assumed coverage on shares of ALLETE (NYSE:ALE) in a note issued to investors on Tuesday. The brokerage set a “hold” rating on the utilities provider’s stock.

Separately, Mizuho raised their target price on ALLETE from $57.00 to $67.00 and gave the company a “neutral” rating in a report on Thursday, May 16th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, ALLETE has a consensus rating of “Hold” and an average price target of $62.00.

ALLETE Trading Down 0.3 %

NYSE ALE opened at $62.14 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.66 and a quick ratio of 0.96. The stock has a market capitalization of $3.58 billion, a P/E ratio of 14.94 and a beta of 0.80. The firm’s 50-day moving average is $62.43 and its two-hundred day moving average is $60.31. ALLETE has a 12 month low of $49.29 and a 12 month high of $65.86.

ALLETE (NYSE:ALE) last issued its quarterly earnings data on Thursday, May 9th. The utilities provider reported $0.97 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.12). The company had revenue of $403.30 million during the quarter, compared to analyst estimates of $581.26 million. ALLETE had a return on equity of 7.21% and a net margin of 13.94%. On average, sell-side analysts anticipate that ALLETE will post 3.75 earnings per share for the current year.

Institutional Trading of ALLETE

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mariner LLC grew its stake in ALLETE by 4.4% during the 3rd quarter. Mariner LLC now owns 9,728 shares of the utilities provider’s stock worth $514,000 after buying an additional 408 shares during the last quarter. Qube Research & Technologies Ltd increased its stake in ALLETE by 13.9% in the third quarter. Qube Research & Technologies Ltd now owns 77,881 shares of the utilities provider’s stock valued at $4,112,000 after purchasing an additional 9,478 shares during the period. Gotham Asset Management LLC raised its holdings in shares of ALLETE by 102.9% in the third quarter. Gotham Asset Management LLC now owns 42,446 shares of the utilities provider’s stock valued at $2,241,000 after buying an additional 21,528 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of ALLETE during the third quarter worth about $362,000. Finally, AQR Capital Management LLC grew its holdings in shares of ALLETE by 263.7% during the third quarter. AQR Capital Management LLC now owns 395,962 shares of the utilities provider’s stock worth $20,907,000 after buying an additional 287,088 shares during the last quarter. Institutional investors and hedge funds own 76.55% of the company’s stock.

ALLETE Company Profile

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.