Analysts at StockNews.com began coverage on shares of ALLETE (NYSE:ALE – Get Free Report) in a report issued on Friday. The firm set a “hold” rating on the utilities provider’s stock.
ALLETE Price Performance
ALE stock opened at $63.87 on Friday. ALLETE has a 1 year low of $49.29 and a 1 year high of $65.86. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.45 and a quick ratio of 0.83. The firm has a market capitalization of $3.69 billion, a PE ratio of 15.35 and a beta of 0.80. The business has a 50 day simple moving average of $63.83 and a 200-day simple moving average of $61.94.
ALLETE (NYSE:ALE – Get Free Report) last issued its earnings results on Thursday, August 1st. The utilities provider reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.30). ALLETE had a net margin of 14.36% and a return on equity of 7.07%. The company had revenue of $354.50 million during the quarter, compared to analysts’ expectations of $547.24 million. During the same quarter in the previous year, the company earned $0.90 earnings per share. The firm’s quarterly revenue was down 33.6% compared to the same quarter last year.
Institutional Trading of ALLETE
A number of hedge funds and other institutional investors have recently made changes to their positions in ALE. Capstone Investment Advisors LLC acquired a new stake in shares of ALLETE during the 1st quarter worth about $854,000. Boston Partners raised its stake in shares of ALLETE by 59.2% in the 1st quarter. Boston Partners now owns 30,441 shares of the utilities provider’s stock valued at $1,816,000 after acquiring an additional 11,321 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of ALLETE by 2.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 888,731 shares of the utilities provider’s stock worth $54,355,000 after acquiring an additional 24,690 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of ALLETE by 167.1% during the 1st quarter. SG Americas Securities LLC now owns 34,723 shares of the utilities provider’s stock worth $2,071,000 after purchasing an additional 21,725 shares during the period. Finally, Sei Investments Co. increased its holdings in ALLETE by 2.7% in the 1st quarter. Sei Investments Co. now owns 308,300 shares of the utilities provider’s stock valued at $18,387,000 after purchasing an additional 7,981 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.
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