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

October 13, 2017 - By Clifton Ray

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

Investors sentiment decreased to 1.31 in Q2 2017. Its down 0.52, from 1.83 in 2017Q1. It fall, 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.

Mesirow Inv Mgmt invested in 1.65% or 342,831 shares. Comerica National Bank & Trust owns 69,746 shares. Tph Asset Management Limited Company invested in 15,108 shares or 0.12% of the stock. Paradigm Asset Mngmt Co Limited Liability Company owns 0% invested in ALLETE Inc (NYSE:ALE) for 10,750 shares. Vanguard Gp Inc, Pennsylvania-based fund reported 4.96M shares. Northern Trust accumulated 1.29 million shares. Teacher Retirement System Of Texas holds 0% of its portfolio in ALLETE Inc (NYSE:ALE) for 4,000 shares. Amp Cap Limited holds 0% of its portfolio in ALLETE Inc (NYSE:ALE) for 2,973 shares. Bessemer Gru has 42,902 shares. Rodgers Brothers, a Pennsylvania-based fund reported 4,200 shares. Breton Hill Cap reported 0.23% in ALLETE Inc (NYSE:ALE). National Bank Of Ny Mellon Corporation invested 0.02% of its portfolio in ALLETE Inc (NYSE:ALE). Cetera Advisor Ltd Limited Liability Company accumulated 6,791 shares. Usa Financial Portformulas Corp accumulated 4,095 shares. Strs Ohio invested in 0% or 7,300 shares.

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

ALLETE (NYSE:ALE) Rating Reaffirmed

They currently have a $73 PT on ALLETE (NYSE:ALE). The target price by JP Morgan would suggest a potential downside of -7.12 % from the company’s last price. This has been revealed in a note on Thursday, 12 October.

Investors sentiment decreased to 1.31 in Q2 2017. Its down 0.52, from 1.83 in 2017Q1. It fall, 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.

Mesirow Inv Mgmt invested in 1.65% or 342,831 shares. Comerica National Bank & Trust owns 69,746 shares. Tph Asset Management Limited Company invested in 15,108 shares or 0.12% of the stock. Paradigm Asset Mngmt Co Limited Liability Company owns 0% invested in ALLETE Inc (NYSE:ALE) for 10,750 shares. Vanguard Gp Inc, Pennsylvania-based fund reported 4.96M shares. Northern Trust accumulated 1.29 million shares. Teacher Retirement System Of Texas holds 0% of its portfolio in ALLETE Inc (NYSE:ALE) for 4,000 shares. Amp Cap Limited holds 0% of its portfolio in ALLETE Inc (NYSE:ALE) for 2,973 shares. Bessemer Gru has 42,902 shares. Rodgers Brothers, a Pennsylvania-based fund reported 4,200 shares. Breton Hill Cap reported 0.23% in ALLETE Inc (NYSE:ALE). National Bank Of Ny Mellon Corporation invested 0.02% of its portfolio in ALLETE Inc (NYSE:ALE). Cetera Advisor Ltd Limited Liability Company accumulated 6,791 shares. Usa Financial Portformulas Corp accumulated 4,095 shares. Strs Ohio invested in 0% or 7,300 shares.

Since May 9, 2017, it had 0 insider purchases, and 1 sale for $139,340 activity. The insider DeVinck Steven Q sold 2,000 shares 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 firm has “Neutral” rating by Macquarie Research given on Friday, November 4. On Monday, October 19 the stock rating was downgraded by Wunderlich to “Hold”. JP Morgan maintained the shares of ALE in report on Wednesday, March 30 with “Underweight” rating. The firm earned “Underweight” rating on Thursday, October 12 by JP Morgan. The firm has “Buy” rating by Williams Capital Group given on Friday, April 21. The stock of ALLETE Inc (NYSE:ALE) earned “Hold” rating by Williams Capital Group on Thursday, October 12. Wells Fargo initiated ALLETE Inc (NYSE:ALE) on Thursday, October 15 with “Market Perform” rating. Williams Capital Group maintained ALLETE Inc (NYSE:ALE) rating on Monday, June 19. Williams Capital Group has “Buy” rating and $78 target. The firm has “Hold” rating given on Tuesday, March 29 by Williams Capital Group. The firm has “Buy” rating given on Tuesday, December 8 by Wunderlich.

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 EPS, 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 EPS 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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