Today JP Morgan Reconfirms a Underweight Rating on ALLETE (NYSE:ALE) and a $73 Target Price

October 13, 2017 - By Jacob Falcon

 Today JP Morgan Reconfirms a Underweight Rating on ALLETE (NYSE:ALE) and a $73 Target Price

Investors sentiment decreased to 1.31 in 2017 Q2. Its down 0.52, from 1.83 in 2017Q1. It dived, as 20 investors sold ALLETE Inc shares while 71 reduced holdings. 32 funds opened positions while 87 raised stakes. 35.07 million shares or 1.35% less from 35.55 million shares in 2017Q1 were reported.

Tph Asset Mngmt reported 15,108 shares. Advisory Networks Limited Liability Com has 36 shares. Duff Phelps Investment Management holds 0.05% of its portfolio in ALLETE Inc (NYSE:ALE) for 46,990 shares. Ls Inv Advsr Llc accumulated 1,890 shares or 0.01% of the stock. Alpine Woods Lc holds 0.02% of its portfolio in ALLETE Inc (NYSE:ALE) for 4,334 shares. Schwab Charles has 0.02% invested in ALLETE Inc (NYSE:ALE). Shelton Mngmt holds 0.03% of its portfolio in ALLETE Inc (NYSE:ALE) for 4,972 shares. Moreover, Hightower Advsrs Ltd Liability has 0% invested in ALLETE Inc (NYSE:ALE) for 3,786 shares. Maryland-based Profund Advsr Ltd Liability Corporation has invested 0.04% in ALLETE Inc (NYSE:ALE). Deutsche Bankshares Ag accumulated 75,819 shares or 0% of the stock. New York-based Amer Group has invested 0.01% in ALLETE Inc (NYSE:ALE). Chicago Equity Partners Limited Liability Co stated it has 0.01% of its portfolio in ALLETE Inc (NYSE:ALE). Coldstream Cap reported 0.03% stake. Moreover, Victory Capital has 0.24% invested in ALLETE Inc (NYSE:ALE). Texas Permanent School Fund holds 0.04% or 37,133 shares.

Since May 9, 2017, it had 0 insider purchases, and 1 sale for $139,340 activity. 2,000 shares were sold by DeVinck Steven Q, worth $139,340.

ALLETE (NYSE:ALE) Rating Reaffirmed

Recently, In analysts report sent to investors and clients on Thursday morning, ALLETE (NYSE:ALE) shares have had their Underweight Rating reaffirmed by professional analysts at JP Morgan, who currently has a $73 target on company. This target by JP Morgan gives the possibile downside of -7.12 % from the last stock close.

Investors sentiment decreased to 1.31 in 2017 Q2. Its down 0.52, from 1.83 in 2017Q1. It dived, as 20 investors sold ALLETE Inc shares while 71 reduced holdings. 32 funds opened positions while 87 raised stakes. 35.07 million shares or 1.35% less from 35.55 million shares in 2017Q1 were reported.

Tph Asset Mngmt reported 15,108 shares. Advisory Networks Limited Liability Com has 36 shares. Duff Phelps Investment Management holds 0.05% of its portfolio in ALLETE Inc (NYSE:ALE) for 46,990 shares. Ls Inv Advsr Llc accumulated 1,890 shares or 0.01% of the stock. Alpine Woods Lc holds 0.02% of its portfolio in ALLETE Inc (NYSE:ALE) for 4,334 shares. Schwab Charles has 0.02% invested in ALLETE Inc (NYSE:ALE). Shelton Mngmt holds 0.03% of its portfolio in ALLETE Inc (NYSE:ALE) for 4,972 shares. Moreover, Hightower Advsrs Ltd Liability has 0% invested in ALLETE Inc (NYSE:ALE) for 3,786 shares. Maryland-based Profund Advsr Ltd Liability Corporation has invested 0.04% in ALLETE Inc (NYSE:ALE). Deutsche Bankshares Ag accumulated 75,819 shares or 0% of the stock. New York-based Amer Group has invested 0.01% in ALLETE Inc (NYSE:ALE). Chicago Equity Partners Limited Liability Co stated it has 0.01% of its portfolio in ALLETE Inc (NYSE:ALE). Coldstream Cap reported 0.03% stake. Moreover, Victory Capital has 0.24% invested in ALLETE Inc (NYSE:ALE). Texas Permanent School Fund holds 0.04% or 37,133 shares.

Since May 9, 2017, it had 0 insider purchases, and 1 sale for $139,340 activity. 2,000 shares were sold by DeVinck Steven Q, worth $139,340.

ALLETE Inc (NYSE:ALE) Ratings Coverage

Among 5 analysts covering ALLETE Inc (NYSE:ALE), 1 have Buy rating, 1 Sell and 3 Hold. Therefore 20% are positive. ALLETE Inc has $78 highest and $54 lowest target. $69.33’s average target is -11.79% below currents $78.6 stock price. ALLETE Inc had 11 analyst reports since October 15, 2015 according to SRatingsIntel. The stock of ALLETE Inc (NYSE:ALE) earned “Underweight” rating by JP Morgan on Thursday, October 12. The firm has “Buy” rating given on Tuesday, December 8 by Wunderlich. Wunderlich downgraded the stock to “Hold” rating in Monday, October 19 report. The stock has “Hold” rating by Williams Capital Group on Tuesday, March 29. Williams Capital Group downgraded ALLETE Inc (NYSE:ALE) on Thursday, October 12 to “Hold” rating. The rating was initiated by Wells Fargo on Thursday, October 15 with “Market Perform”. As per Friday, November 4, the company rating was initiated by Macquarie Research. On Wednesday, March 30 the stock rating was maintained by JP Morgan with “Underweight”. Williams Capital Group maintained the shares of ALE in report on Monday, June 19 with “Buy” rating. On Friday, April 21 the stock rating was maintained by Williams Capital Group with “Buy”.

About 237,170 shares traded or 14.86% up from the average. ALLETE Inc (NYSE:ALE) has risen 26.32% since October 13, 2016 and is uptrending. It has outperformed by 9.62% the S&P500.

Analysts await ALLETE Inc (NYSE:ALE) to report earnings on November, 3. They expect $0.84 earnings per share, down 15.15 % or $0.15 from last year’s $0.99 per share. ALE’s profit will be $42.64M for 23.39 P/E if the $0.84 EPS becomes a reality. After $0.72 actual earnings per share reported by ALLETE Inc for the previous quarter, Wall Street now forecasts 16.67 % EPS growth.

ALLETE, Inc. is an energy company. The Company’s divisions include Regulated Operations, ALLETE Clean Energy, Inc. , U.S. The company has market cap of $3.99 billion. Water Services Holding Company (U.S. It has a 23.07 P/E ratio. Water Services), and Corporate and Other.

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