Allete, Inc. (NYSE:ALE) – KeyCorp increased their Q1 2018 earnings per share (EPS) estimates for Allete in a research report issued on Wednesday, April 18th. KeyCorp analyst P. Ridzon now anticipates that the utilities provider will post earnings of $0.96 per share for the quarter, up from their previous forecast of $0.95. KeyCorp also issued estimates for Allete’s FY2019 earnings at $3.60 EPS.

A number of other equities research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Allete from a “hold” rating to a “sell” rating in a report on Wednesday, February 21st. Williams Capital raised shares of Allete from a “hold” rating to a “buy” rating and set a $76.00 price target on the stock in a report on Friday, February 2nd. Wells Fargo set a $71.00 price target on shares of Allete and gave the company a “hold” rating in a report on Tuesday, February 13th. Guggenheim reaffirmed a “hold” rating and issued a $63.00 price target on shares of Allete in a report on Friday, February 23rd. Finally, Mizuho assumed coverage on shares of Allete in a report on Wednesday, February 28th. They issued a “buy” rating and a $71.50 price target on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $72.64.

Shares of ALE opened at $73.10 on Friday. The firm has a market cap of $3,764.69, a PE ratio of 23.11, a P/E/G ratio of 3.32 and a beta of 0.32. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.77 and a current ratio of 1.05. Allete has a 1-year low of $66.64 and a 1-year high of $81.24.

Allete (NYSE:ALE) last announced its quarterly earnings data on Thursday, February 15th. The utilities provider reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.13). The company had revenue of $337.90 million for the quarter, compared to analysts’ expectations of $348.00 million. Allete had a net margin of 12.13% and a return on equity of 8.40%. Allete’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period last year, the firm earned $0.70 earnings per share.

In other Allete news, Director James J. Hoolihan sold 800 shares of the company’s stock in a transaction on Monday, March 26th. The shares were sold at an average price of $70.51, for a total value of $56,408.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.42% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in Allete by 1.6% in the fourth quarter. BlackRock Inc. now owns 6,686,198 shares of the utilities provider’s stock valued at $497,185,000 after purchasing an additional 108,468 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Allete by 0.5% in the fourth quarter. Victory Capital Management Inc. now owns 1,369,925 shares of the utilities provider’s stock worth $101,868,000 after acquiring an additional 6,425 shares during the period. Millennium Management LLC raised its position in shares of Allete by 336.1% in the fourth quarter. Millennium Management LLC now owns 545,149 shares of the utilities provider’s stock worth $40,537,000 after acquiring an additional 420,136 shares during the period. Geode Capital Management LLC raised its position in shares of Allete by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 517,000 shares of the utilities provider’s stock worth $38,444,000 after acquiring an additional 11,463 shares during the period. Finally, Sei Investments Co. raised its position in shares of Allete by 399.6% in the fourth quarter. Sei Investments Co. now owns 472,667 shares of the utilities provider’s stock worth $19,278,000 after acquiring an additional 378,053 shares during the period. 73.47% of the stock is currently owned by institutional investors.

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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.

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