Insider Selling: Deborah A. Amberg Sells 3,549 Shares of Allete Stock (ALE)
Allete (NYSE:ALE) VP Deborah A. Amberg sold 3,549 shares of Allete stock on the open market in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $48.42, for a total transaction of $171,842.58. Following the completion of the transaction, the vice president now directly owns 14,535 shares of the company’s stock, valued at approximately $703,785. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Allete (NYSE:ALE) traded up 0.54% on Wednesday, hitting $48.60. 91,673 shares of the company’s stock traded hands. Allete has a one year low of $45.78 and a one year high of $52.73. The stock’s 50-day moving average is $48.08 and its 200-day moving average is $49.84. The company has a market cap of $2.046 billion and a P/E ratio of 18.30.
Allete (NYSE:ALE) last announced its earnings results on Friday, August 1st. The company reported $0.46 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.45 by $0.01. The company had revenue of $260.70 million for the quarter, compared to the consensus estimate of $257.10 million. During the same quarter last year, the company posted $0.35 earnings per share. Allete’s revenue was up 10.7% compared to the same quarter last year. On average, analysts predict that Allete will post $2.88 earnings per share for the current fiscal year.
Separately, analysts at JPMorgan Chase & Co. initiated coverage on shares of Allete in a research note on Thursday, June 12th. They set a “neutral” rating and a $49.00 price target on the stock.
ALLETE, Inc (NYSE:ALE) is an energy company.
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