Gabelli Funds LLC Holds Position in Allete, Inc. (ALE)

Gabelli Funds LLC maintained its position in shares of Allete, Inc. (NYSE:ALE) during the fourth quarter, Holdings Channel reports. The firm owned 342,000 shares of the company’s stock at the end of the fourth quarter. Gabelli Funds LLC’s holdings in Allete were worth $21,953,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Grimes & Company Inc. boosted its position in shares of Allete by 0.3% in the third quarter. Grimes & Company Inc. now owns 7,235 shares of the company’s stock worth $431,000 after buying an additional 23 shares during the last quarter. IFP Advisors Inc boosted its position in shares of Allete by 0.3% in the second quarter. IFP Advisors Inc now owns 8,122 shares of the company’s stock worth $525,000 after buying an additional 27 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of Allete by 0.9% in the third quarter. Cetera Investment Advisers now owns 4,035 shares of the company’s stock worth $241,000 after buying an additional 35 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Allete by 2.6% in the second quarter. Public Employees Retirement System of Ohio now owns 2,856 shares of the company’s stock worth $185,000 after buying an additional 73 shares during the last quarter. Finally, Aperio Group LLC boosted its position in shares of Allete by 0.5% in the third quarter. Aperio Group LLC now owns 23,905 shares of the company’s stock worth $1,425,000 after buying an additional 120 shares during the last quarter. Institutional investors and hedge funds own 72.57% of the company’s stock.

Institutional Ownership by Quarter for Allete (NYSE:ALE)

Shares of Allete, Inc. (NYSE:ALE) traded down 0.26% on Friday, hitting $66.07. 91,262 shares of the stock traded hands. Allete, Inc. has a 52-week low of $51.29 and a 52-week high of $66.92. The firm has a market cap of $3.27 billion, a PE ratio of 25.18 and a beta of 0.51. The firm has a 50 day moving average price of $64.24 and a 200 day moving average price of $61.70.

This article was originally published by and is the sole property of Zolmax. If you happen to be reading this article on another website, it was stolen and illegally republished in violation of U.S. and International copyright law. The original version of this story can be read at https://zolmax.com/investing/gabelli-funds-llc-holds-position-in-allete-inc-ale/1208595.html

Allete (NYSE:ALE) last posted its earnings results on Wednesday, February 15th. The company reported $0.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.16. The business had revenue of $341.50 million for the quarter, compared to analysts’ expectations of $384 million. Allete had a net margin of 9.38% and a return on equity of 7.46%. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.37 earnings per share. On average, equities analysts forecast that Allete, Inc. will post $3.46 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 1st. Investors of record on Wednesday, February 15th will be paid a $0.535 dividend. The ex-dividend date is Monday, February 13th. This represents a $2.14 dividend on an annualized basis and a yield of 3.23%. This is a boost from Allete’s previous quarterly dividend of $0.52. Allete’s payout ratio is presently 81.99%.

“Gabelli Funds LLC Holds Position in Allete, Inc. (ALE)” was originally published by Zolmax and is owned by of Zolmax. If you are accessing this piece on another website, it was illegally copied and republished in violation of US & international copyright and trademark law. The legal version of this piece can be viewed at https://zolmax.com/investing/gabelli-funds-llc-holds-position-in-allete-inc-ale/1208595.html.

Several research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Allete from a “sell” rating to a “hold” rating in a report on Monday, November 21st. Guggenheim assumed coverage on shares of Allete in a report on Friday, November 4th. They issued a “neutral” rating on the stock. Finally, Macquarie assumed coverage on shares of Allete in a report on Thursday, November 3rd. They issued a “neutral” rating on the stock. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $62.10.

About Allete

ALLETE, Inc is an energy company. The Company operates through three segments. The Regulated Operations segment includes its regulated utilities, Minnesota Power and Superior Water, Light and Power Company (SWL&P), as well as its investment in American Transmission Company LLC (ATC), a regulated utility that owns and maintains electric transmission assets.

5 Day Chart for NYSE:ALE

Want to see what other hedge funds are holding ALE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allete, Inc. (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

Casey's General Stores Inc  Receives Consensus Recommendation of “Buy” from Brokerages
Casey's General Stores Inc Receives Consensus Recommendation of “Buy” from Brokerages
WestJet Airlines Ltd.  Receives C$22.83 Consensus PT from Brokerages
WestJet Airlines Ltd. Receives C$22.83 Consensus PT from Brokerages
AA PLC  Receives “Underperform” Rating from Jefferies Group LLC
AA PLC Receives “Underperform” Rating from Jefferies Group LLC
Pagegroup PLC  Given New GBX 430 Price Target at Royal Bank of Canada
Pagegroup PLC Given New GBX 430 Price Target at Royal Bank of Canada
Standard Life Plc  Stock Rating Reaffirmed by BNP Paribas
Standard Life Plc Stock Rating Reaffirmed by BNP Paribas
Delta Air Lines  – Investment Analysts’ Recent Ratings Updates
Delta Air Lines – Investment Analysts’ Recent Ratings Updates


Leave a Reply

 
© 2006-2017 Zolmax.