Allete (NYSE:ALE) Downgrade of Rating
Williams Capital downgraded shares of Allete (NYSE:ALE) from “Buy” rating to “Hold” rating in a research report revealed to clients and investors on Thursday, 12 October. The firm now has $79.0 target price per share on the stock.
The rating downgrade is noticed by equity traders, as NYSE:ALE is right now trading -0.11% lower at $78.97 as of 2:05 AM New York time. Allete shares have [From2] 0% over the last 200 days, while the Standard & Poor’s 500 index has risen 6.00% over the same time period.
Out of 6 analysts covering Allete, 4 rate it a Buy, 2 indicate a Hold while 1 suggest a Sell. The highest target is $60 and the lowest is $54 according to Thomson/First Call. The 12-month mean target is $57.17, which means downside potential of 27.61% over the current price.
Deroy & Devereaux Private Investment Counsel Inc had the most significant stake with ownership of 252,796 shares as of Q2 2015 for 1.9% of the fund’s portfolio. Lombardia Capital Partners Llc is another bullish active investment manager who is having 453,345 shares of Allete or 1.83% of their fund’s portfolio. Furthermore, Channing Capital Management Llc have 1.67% of their fund’s portfolio invested in the company for 705,110 shares. The Massachusetts-based fund Eagle Boston Investment Management Inc disclosed it had purchased a stake worth about 1.64% of the active investment manager’s stock portfolio in Allete. The Massachusetts-based fund Aristotle Capital Boston Llc is also positive about the stock, possessing 214,073 shares or 1.53% of their fund’s portfolio.
Allete (NYSE:ALE) Profile
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.
Allete (NYSE:ALE) traded down -0.11% on 12 October, hitting $78.97. A total of 77,092 shares of the company’s stock traded hands. This is down from average of 200,498 shares. Allete has a 52 week low of $56.48 and a 52 week high of $79.69. The company has a market cap of $4.00 billion and a P/E ratio of 23.24.
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