ALLETE (NYSE:ALE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

According to Zacks, “ALLETE is an energy company. In addition to its electric utilities, Minnesota Power and Superior Water, Light and Power of Wisconsin, ALLETE owns ALLETE Clean Energy, based in Duluth, U.S. Water Services headquartered in St. Michael, Minn., BNI Energy in Center, N.D., and has an eight percent equity interest in the American Transmission Co. “

ALE has been the topic of several other reports. Mizuho downgraded shares of ALLETE from a “neutral” rating to an “underperform” rating and set a $79.30 price objective on the stock. in a research report on Monday. Williams Capital lowered ALLETE from a “hold” rating to a “sell” rating and set a $69.00 price objective for the company. in a research note on Monday, December 10th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. ALLETE presently has a consensus rating of “Hold” and a consensus target price of $74.22.

Shares of NYSE ALE opened at $77.17 on Tuesday. The firm has a market cap of $3.97 billion, a PE ratio of 24.19 and a beta of 0.28. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.71 and a current ratio of 1.09. ALLETE has a one year low of $67.07 and a one year high of $82.82.

In other news, CEO Alan R. Hodnik sold 4,000 shares of ALLETE stock in a transaction dated Wednesday, December 12th. The stock was sold at an average price of $81.05, for a total transaction of $324,200.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.41% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC bought a new position in ALLETE in the third quarter worth $122,000. Ffcm LLC raised its holdings in shares of ALLETE by 120.0% during the 4th quarter. Ffcm LLC now owns 1,659 shares of the utilities provider’s stock valued at $126,000 after purchasing an additional 905 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of ALLETE during the third quarter worth approximately $128,000. BerganKDV Wealth Management LLC increased its position in ALLETE by 57.0% during the third quarter. BerganKDV Wealth Management LLC now owns 1,987 shares of the utilities provider’s stock worth $149,000 after acquiring an additional 721 shares during the period. Finally, Trexquant Investment LP bought a new stake in ALLETE during the 3rd quarter valued at $208,000. Institutional investors own 73.87% of the company’s stock.

About ALLETE

ALLETE, Inc operates as an energy company. The company operates through three segments: Regulated Operations, ALLETE Clean Energy, and U.S. Water Services. It generates electricity from coal-fired, natural gas-fired, biomass co-fired, hydroelectric, wind, solar, and other sources. The company provides regulated electric, natural gas, and water 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 16 non-affiliated municipal customers.

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