ALLETE (NYSE:ALE) Upgraded at StockNews.com

StockNews.com upgraded shares of ALLETE (NYSE:ALEGet Rating) from a sell rating to a hold rating in a report published on Tuesday morning.

Several other research analysts have also recently weighed in on ALE. Guggenheim dropped their price target on shares of ALLETE from $66.00 to $53.00 in a research note on Monday, October 24th. TheStreet downgraded shares of ALLETE from a b- rating to a c+ rating in a research report on Wednesday, October 26th. JPMorgan Chase & Co. upgraded shares of ALLETE from an underweight rating to a neutral rating and set a $65.00 price objective on the stock in a research report on Thursday, November 17th. Wells Fargo & Company decreased their price objective on shares of ALLETE from $65.00 to $56.00 and set an equal weight rating on the stock in a research report on Wednesday, October 19th. Finally, Mizuho decreased their price objective on shares of ALLETE from $58.00 to $50.00 and set a neutral rating on the stock in a research report on Monday, October 3rd. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $58.00.

ALLETE Trading Up 0.7 %

Shares of ALLETE stock opened at $66.15 on Tuesday. The company’s fifty day simple moving average is $55.36 and its 200-day simple moving average is $58.54. The stock has a market capitalization of $3.78 billion, a PE ratio of 17.98, a P/E/G ratio of 1.90 and a beta of 0.71. ALLETE has a 1-year low of $47.77 and a 1-year high of $68.61. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.02 and a quick ratio of 0.35.

ALLETE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th will be issued a $0.65 dividend. The ex-dividend date is Monday, November 14th. This represents a $2.60 dividend on an annualized basis and a yield of 3.93%. ALLETE’s dividend payout ratio is currently 70.65%.

Institutional Trading of ALLETE

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Quadrant Capital Group LLC increased its holdings in ALLETE by 41.8% in the 3rd quarter. Quadrant Capital Group LLC now owns 563 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 166 shares during the last quarter. Probity Advisors Inc. increased its holdings in ALLETE by 3.3% in the 2nd quarter. Probity Advisors Inc. now owns 6,253 shares of the utilities provider’s stock valued at $368,000 after acquiring an additional 197 shares during the last quarter. CWM LLC increased its holdings in ALLETE by 23.1% in the 2nd quarter. CWM LLC now owns 1,081 shares of the utilities provider’s stock valued at $64,000 after acquiring an additional 203 shares during the last quarter. Eaton Vance Management increased its holdings in ALLETE by 0.8% in the 3rd quarter. Eaton Vance Management now owns 26,482 shares of the utilities provider’s stock valued at $1,325,000 after acquiring an additional 207 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in ALLETE by 2.3% in the 2nd quarter. Exchange Traded Concepts LLC now owns 9,514 shares of the utilities provider’s stock valued at $559,000 after acquiring an additional 216 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors.

About ALLETE

(Get Rating)

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. 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 145,000 retail customers and 15 non-affiliated municipal customers.

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