ALLETE (NYSE:ALE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

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. “

Several other brokerages also recently commented on ALE. Ladenburg Thalmann Financial Services downgraded shares of ALLETE from a “buy” rating to a “neutral” rating and set a $78.00 target price on the stock. in a report on Friday, October 20th. Williams Capital restated a “hold” rating and set a $79.00 target price on shares of ALLETE in a report on Thursday, October 12th. JPMorgan Chase & Co. raised their target price on shares of ALLETE from $66.00 to $73.00 and gave the stock an “underweight” rating in a report on Thursday, October 12th. Finally, ValuEngine downgraded shares of ALLETE from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a strong buy rating to the company. ALLETE has an average rating of “Hold” and an average target price of $80.25.

Shares of ALLETE (ALE) traded up $0.46 during trading hours on Tuesday, hitting $73.00. 255,000 shares of the company were exchanged, compared to its average volume of 294,678. The firm has a market cap of $3,750.00, a P/E ratio of 21.10, a price-to-earnings-growth ratio of 2.90 and a beta of 0.47. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.71. ALLETE has a 1-year low of $62.04 and a 1-year high of $81.24.

ALLETE (NYSE:ALE) last announced its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.09. ALLETE had a net margin of 12.31% and a return on equity of 9.21%. equities analysts anticipate that ALLETE will post 3.21 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the business. Louisiana State Employees Retirement System grew its stake in shares of ALLETE by 6.3% during the 4th quarter. Louisiana State Employees Retirement System now owns 21,900 shares of the utilities provider’s stock worth $1,628,000 after acquiring an additional 1,300 shares in the last quarter. California Public Employees Retirement System grew its stake in shares of ALLETE by 10.9% during the 3rd quarter. California Public Employees Retirement System now owns 72,973 shares of the utilities provider’s stock worth $5,640,000 after acquiring an additional 7,173 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of ALLETE by 7.0% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 15,215 shares of the utilities provider’s stock worth $1,176,000 after acquiring an additional 992 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of ALLETE during the 3rd quarter worth approximately $289,000. Finally, Rocky Mountain Advisers LLC bought a new position in shares of ALLETE during the 3rd quarter worth approximately $108,000. Hedge funds and other institutional investors own 73.20% of the company’s stock.

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About ALLETE

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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