Several brokerages have updated their recommendations and price targets on shares of Allete (NYSE: ALE) in the last few weeks:

  • 10/12/2017 – Allete had its price target raised by analysts at J P Morgan Chase & Co from $66.00 to $73.00. They now have an “underweight” rating on the stock.
  • 10/12/2017 – Allete had its “hold” rating reaffirmed by analysts at Williams Capital. They now have a $79.00 price target on the stock.
  • 10/10/2017 – Allete was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. 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. “
  • 10/4/2017 – Allete was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. 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. “
  • 10/2/2017 – Allete was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 9/7/2017 – Allete was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 8/22/2017 – Allete was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 8/14/2017 – Allete was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. 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. “

Allete (NYSE:ALE) last announced its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.17. Allete had a return on equity of 9.21% and a net margin of 12.09%. The business had revenue of $353.30 million during the quarter, compared to analyst estimates of $342.50 million. During the same period last year, the company earned $0.50 earnings per share. Allete’s quarterly revenue was up 12.2% compared to the same quarter last year.

In related news, Director Madeleine W. Ludlow sold 2,500 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $74.83, for a total transaction of $187,075.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.42% of the stock is currently owned by company insiders.

ALLETE, Inc is an energy company. The Company’s segments include Regulated Operations, ALLETE Clean Energy, Inc (ALLETE Clean Energy), U.S. Water Services Holding Company (U.S. Water Services), and Corporate and Other. The Regulated Operations segment includes its regulated utilities, Minnesota Power, and Superior Water, Light and Power Company, and its investment in American Transmission Company LLC.

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