Teacher Retirement System of Texas raised its stake in shares of Allete Inc. (NYSE:ALE) by 13.8% during the second quarter, Holdings Channel reports. The firm owned 6,508 shares of the company’s stock after buying an additional 789 shares during the period. Teacher Retirement System of Texas’ holdings in Allete were worth $421,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Goldman Sachs Group Inc. increased its position in shares of Allete by 207.9% in the first quarter. Goldman Sachs Group Inc. now owns 232,939 shares of the company’s stock valued at $13,061,000 after buying an additional 157,294 shares during the last quarter. BlackRock Group LTD raised its position in shares of Allete by 15.7% in the first quarter. BlackRock Group LTD now owns 58,191 shares of the company’s stock valued at $3,262,000 after buying an additional 7,896 shares during the period. BlackRock Inc. raised its position in shares of Allete by 64.4% in the first quarter. BlackRock Inc. now owns 4,100 shares of the company’s stock valued at $230,000 after buying an additional 1,606 shares during the period. Aristotle Capital Boston LLC raised its position in shares of Allete by 0.6% in the first quarter. Aristotle Capital Boston LLC now owns 134,059 shares of the company’s stock valued at $7,517,000 after buying an additional 821 shares during the period. Finally, California Public Employees Retirement System raised its position in shares of Allete by 3.0% in the second quarter. California Public Employees Retirement System now owns 76,400 shares of the company’s stock valued at $4,938,000 after buying an additional 2,200 shares during the period. 71.24% of the stock is currently owned by institutional investors.
Allete Inc. (NYSE:ALE) traded up 0.18% during midday trading on Friday, hitting $57.06. 265,972 shares of the stock traded hands. Allete Inc. has a 1-year low of $47.93 and a 1-year high of $65.41. The company has a 50-day moving average price of $59.96 and a 200-day moving average price of $59.49. The firm has a market cap of $2.82 billion, a P/E ratio of 18.73 and a beta of 0.52.
Allete (NYSE:ALE) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.50 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by $0.01. The business earned $314.80 million during the quarter, compared to analyst estimates of $326.70 million. Allete had a return on equity of 8.13% and a net margin of 10.02%. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.48 EPS. Analysts predict that Allete Inc. will post $3.12 EPS for the current year.
ALE has been the subject of several research analyst reports. Zacks Investment Research raised shares of Allete from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a research report on Tuesday, August 2nd. KeyCorp set a $65.50 price target on shares of Allete and gave the stock a “buy” rating in a research report on Monday, September 12th. Finally, JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of Allete in a research report on Monday, July 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $62.10.
ALLETE, Inc is an energy company. The Company operates through three segments. The Regulated Operations segment includes its regulated utilities, Minnesota Power and Superior Water, Light and Power Company (SWL&P), as well as its investment in American Transmission Company LLC (ATC), a regulated utility that owns and maintains electric transmission assets.
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