Universal Beteiligungs und Servicegesellschaft mbH Sells 37,718 Shares of Allete, Inc. $ALE

Universal Beteiligungs und Servicegesellschaft mbH lessened its stake in shares of Allete, Inc. (NYSE:ALE) by 70.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 15,622 shares of the utilities provider’s stock after selling 37,718 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Allete were worth $1,001,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Resona Asset Management Co. Ltd. grew its position in Allete by 2.7% in the first quarter. Resona Asset Management Co. Ltd. now owns 10,641 shares of the utilities provider’s stock valued at $699,000 after acquiring an additional 284 shares during the period. Retirement Systems of Alabama boosted its stake in shares of Allete by 0.4% in the 2nd quarter. Retirement Systems of Alabama now owns 70,768 shares of the utilities provider’s stock valued at $4,534,000 after purchasing an additional 295 shares in the last quarter. Probity Advisors Inc. grew its holdings in shares of Allete by 5.7% in the 2nd quarter. Probity Advisors Inc. now owns 7,038 shares of the utilities provider’s stock worth $451,000 after purchasing an additional 378 shares during the last quarter. Strs Ohio increased its position in shares of Allete by 2.2% during the 2nd quarter. Strs Ohio now owns 18,300 shares of the utilities provider’s stock worth $1,172,000 after purchasing an additional 400 shares in the last quarter. Finally, Truist Financial Corp increased its position in shares of Allete by 5.1% during the 2nd quarter. Truist Financial Corp now owns 8,511 shares of the utilities provider’s stock worth $545,000 after purchasing an additional 412 shares in the last quarter. Institutional investors and hedge funds own 76.55% of the company’s stock.

Allete Stock Up 0.1%

Shares of NYSE ALE opened at $67.59 on Thursday. The firm’s 50-day simple moving average is $66.92 and its 200 day simple moving average is $65.61. The company has a market cap of $3.93 billion, a price-to-earnings ratio of 21.32 and a beta of 0.84. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 0.57. Allete, Inc. has a 12-month low of $62.38 and a 12-month high of $67.60.

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

Analysts Set New Price Targets

ALE has been the topic of a number of recent analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Allete in a research report on Tuesday. Wall Street Zen cut shares of Allete from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy”.

Allete Company 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.