Intech Investment Management LLC Has $2.28 Million Stake in Allete, Inc. $ALE

Intech Investment Management LLC lowered its holdings in Allete, Inc. (NYSE:ALE) by 11.3% in the second quarter, Holdings Channel reports. The firm owned 35,665 shares of the utilities provider’s stock after selling 4,539 shares during the quarter. Intech Investment Management LLC’s holdings in Allete were worth $2,278,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ALE. Envestnet Asset Management Inc. boosted its stake in shares of Allete by 5.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 30,475 shares of the utilities provider’s stock worth $2,002,000 after buying an additional 1,558 shares during the last quarter. CWM LLC increased its position in shares of Allete by 49.1% in the first quarter. CWM LLC now owns 6,332 shares of the utilities provider’s stock valued at $416,000 after acquiring an additional 2,084 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Allete during the first quarter worth about $3,504,000. Pacer Advisors Inc. boosted its position in Allete by 21.1% during the first quarter. Pacer Advisors Inc. now owns 10,440 shares of the utilities provider’s stock valued at $686,000 after purchasing an additional 1,820 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its position in Allete by 21.4% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 56,672 shares of the utilities provider’s stock valued at $3,723,000 after purchasing an additional 10,000 shares during the last quarter. 76.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ALE shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Allete in a research report on Wednesday. Wall Street Zen cut shares of Allete from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy”.

Allete Stock Up 0.2%

ALE opened at $67.50 on Friday. The stock’s fifty day simple moving average is $66.58 and its 200 day simple moving average is $65.55. Allete, Inc. has a 1-year low of $62.38 and a 1-year high of $67.59. The stock has a market cap of $3.92 billion, a PE ratio of 21.29 and a beta of 0.84. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 0.57.

Allete (NYSE:ALE) last released its quarterly earnings data on Thursday, October 30th. The utilities provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.34). The company had revenue of $375.00 million during the quarter, compared to analyst estimates of $434.90 million. Allete had a net margin of 11.98% and a return on equity of 5.71%.

Allete 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.