Tokio Marine Asset Management Co. Ltd. Has $4.12 Million Stock Position in Allete, Inc. $ALE

Tokio Marine Asset Management Co. Ltd. cut its stake in shares of Allete, Inc. (NYSE:ALE) by 47.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,100 shares of the utilities provider’s stock after selling 57,100 shares during the period. Tokio Marine Asset Management Co. Ltd. owned 0.11% of Allete worth $4,123,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ALE. CX Institutional increased its stake in shares of Allete by 67.3% during the third quarter. CX Institutional now owns 445 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 179 shares during the period. American Century Companies Inc. grew its holdings in Allete by 1.2% in the 2nd quarter. American Century Companies Inc. now owns 16,642 shares of the utilities provider’s stock valued at $1,066,000 after buying an additional 194 shares in the last quarter. Captrust Financial Advisors increased its position in Allete by 0.5% during the 2nd quarter. Captrust Financial Advisors now owns 43,564 shares of the utilities provider’s stock worth $2,791,000 after buying an additional 226 shares during the period. Retirement Systems of Alabama lifted its holdings in shares of Allete by 0.4% during the second quarter. Retirement Systems of Alabama now owns 70,768 shares of the utilities provider’s stock worth $4,534,000 after buying an additional 295 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Allete by 2.6% during the third quarter. Exchange Traded Concepts LLC now owns 12,683 shares of the utilities provider’s stock worth $842,000 after buying an additional 324 shares in the last quarter. Institutional investors own 76.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ALE. Wall Street Zen lowered shares of Allete from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Weiss Ratings restated a “buy (b-)” rating on shares of Allete in a research report on Monday, December 15th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy”.

Allete Price Performance

ALE stock opened at $67.91 on Monday. The company’s 50-day moving average price is $67.69 and its two-hundred day moving average price is $66.27. The firm has a market cap of $3.95 billion, a P/E ratio of 23.83 and a beta of 0.83. The company has a quick ratio of 0.73, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. Allete, Inc. has a 12 month low of $62.38 and a 12 month high of $67.99.

Allete (NYSE:ALE) last posted its quarterly earnings results on Thursday, October 30th. The utilities provider reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.34). The business had revenue of $375.00 million for the quarter, compared to analyst estimates of $434.90 million. Allete had a return on equity of 5.08% and a net margin of 11.04%.

Allete Profile

Allete, Inc (NYSE: ALE) is a diversified energy company headquartered in Duluth, Minnesota, whose core operations span regulated electric utility services, renewable energy development and complementary energy-related businesses. Through its principal subsidiary, Minnesota Power, the company delivers electricity to residential, commercial and industrial customers across northeastern Minnesota, leveraging a mix of hydroelectric, coal-fired and natural gas–fired generation assets.

In addition to its utility operations, Allete has expanded into renewable energy through ALLETE Clean Energy, a division focused on the development, ownership and operation of wind and solar projects in the United States.