Allete, Inc. (ALE) Shares Sold by Stevens Capital Management LP

Stevens Capital Management LP decreased its position in shares of Allete, Inc. (NYSE:ALE) by 11.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,359 shares of the utilities provider’s stock after selling 1,533 shares during the period. Stevens Capital Management LP’s holdings in Allete were worth $886,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of ALE. Bank of Montreal Can grew its position in shares of Allete by 5.4% during the first quarter. Bank of Montreal Can now owns 4,078 shares of the utilities provider’s stock valued at $276,000 after purchasing an additional 209 shares in the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of Allete by 0.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 20,399 shares of the utilities provider’s stock valued at $1,381,000 after purchasing an additional 130 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in shares of Allete by 14.1% during the first quarter. BNP Paribas Arbitrage SA now owns 10,952 shares of the utilities provider’s stock valued at $742,000 after purchasing an additional 1,354 shares in the last quarter. World Asset Management Inc grew its position in shares of Allete by 2.7% during the first quarter. World Asset Management Inc now owns 3,203 shares of the utilities provider’s stock valued at $217,000 after purchasing an additional 84 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its position in shares of Allete by 25.4% during the first quarter. UBS Asset Management Americas Inc. now owns 35,795 shares of the utilities provider’s stock valued at $2,424,000 after purchasing an additional 7,252 shares in the last quarter. Hedge funds and other institutional investors own 70.99% of the company’s stock.

A number of research analysts recently commented on ALE shares. ValuEngine raised shares of Allete from a “hold” rating to a “buy” rating in a report on Thursday, September 7th. BidaskClub raised shares of Allete from a “hold” rating to a “buy” rating in a report on Friday, August 4th. Williams Capital increased their price target on shares of Allete from $75.00 to $78.00 and gave the company a “buy” rating in a report on Monday, June 19th. Ladenburg Thalmann Financial Services increased their price target on shares of Allete from $71.00 to $77.00 and gave the company a “buy” rating in a report on Friday, June 9th. Finally, Zacks Investment Research raised shares of Allete from a “hold” rating to a “buy” rating and set a $81.00 price target for the company in a report on Wednesday, July 26th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $78.67.

COPYRIGHT VIOLATION NOTICE: “Allete, Inc. (ALE) Shares Sold by Stevens Capital Management LP” was first reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are viewing this report on another site, it was illegally copied and reposted in violation of United States and international copyright and trademark law. The legal version of this report can be read at https://www.chaffeybreeze.com/2017/09/25/allete-inc-ale-shares-sold-by-stevens-capital-management-lp.html.

In related news, Director Madeleine W. Ludlow sold 2,500 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $74.83, for a total transaction of $187,075.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.42% of the stock is currently owned by corporate insiders.

Allete, Inc. (ALE) opened at 76.91 on Monday. Allete, Inc. has a one year low of $56.48 and a one year high of $79.61. The company has a market cap of $3.92 billion, a P/E ratio of 22.63 and a beta of 0.48. The company has a 50 day moving average of $76.19 and a 200-day moving average of $71.78.

Allete (NYSE:ALE) last announced its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.72 earnings per share (EPS) 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 company had revenue of $353.30 million during the quarter, compared to analysts’ expectations of $342.50 million. During the same quarter in the prior year, the company earned $0.50 EPS. Allete’s revenue was up 12.2% compared to the same quarter last year. On average, equities analysts expect that Allete, Inc. will post $3.38 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Tuesday, August 15th were paid a dividend of $0.535 per share. The ex-dividend date of this dividend was Friday, August 11th. This represents a $2.14 annualized dividend and a yield of 2.78%. Allete’s dividend payout ratio is presently 63.13%.

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.

Institutional Ownership by Quarter 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.

Latest News

Leave a Reply