The ALLETE Inc (ALE) Insider Sells 2,000 Shares

The ALLETE Inc (ALE) Insider Sells 2,000 Shares

Shares of ALLETE Inc (NYSE:ALE) opened at 74.11 on Monday. The stock has a market capitalization of $3.77 billion, a PE ratio of 23.28 and a beta of 0.51. ALLETE Inc has a 52 week low of $56.48 and a 52 week high of $74.55. The company’s 50 day moving average is $70.36 and its 200-day moving average is $66.38.

ALLETE Inc (NYSE:ALE) insider Steven Q. Devinck sold 2,000 shares of the business’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $69.67, for a total transaction of $139,340.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

ALLETE (NYSE:ALE) last posted its quarterly earnings data on Thursday, May 4th. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. ALLETE had a net margin of 9.38% and a return on equity of 7.46%. The company had revenue of $365.60 million for the quarter, compared to the consensus estimate of $338 million. During the same quarter last year, the firm posted $0.93 earnings per share. The firm’s revenue was up 9.5% compared to the same quarter last year. On average, equities analysts predict that ALLETE Inc will post $3.46 earnings per share for the current year. The company also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Monday, May 15th were issued a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 2.89%. The ex-dividend date was Thursday, May 11th. ALLETE’s dividend payout ratio is currently 81.99%.

ALE has been the topic of a number of research analyst reports. Williams Capital boosted their target price on shares of ALLETE from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, April 21st. Zacks Investment Research upgraded shares of ALLETE from a “sell” rating to a “hold” rating in a research note on Monday, March 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $70.50. A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of ALLETE by 15,718.2% in the first quarter. BlackRock Inc. now owns 6,468,078 shares of the utilities provider’s stock valued at $437,952,000 after buying an additional 6,427,188 shares in the last quarter. Vanguard Group Inc. boosted its stake in ALLETE by 5.9% in the first quarter. Vanguard Group Inc. now owns 4,787,849 shares of the utilities provider’s stock valued at $324,185,000 after buying an additional 265,592 shares during the last quarter. Victory Capital Management Inc. boosted its stake in ALLETE by 0.3% in the first quarter. Victory Capital Management Inc. now owns 1,521,686 shares of the utilities provider’s stock valued at $103,033,000 after buying an additional 4,111 shares during the last quarter. State Street Corp boosted its stake in ALLETE by 2.0% in the first quarter. State Street Corp now owns 1,275,605 shares of the utilities provider’s stock valued at $86,373,000 after buying an additional 25,334 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in ALLETE by 2.8% in the third quarter. Northern Trust Corp now owns 1,230,157 shares of the utilities provider’s stock valued at $73,341,000 after buying an additional 33,877 shares during the last quarter. 72.57% of the stock is currently owned by institutional investors and hedge funds.

ALLETE Company 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. 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “ALE”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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