ALLETE Inc (NYSE:ALE) has been upgraded to Hold in a report by Zacks Investment Research today.
- Updated: October 11, 2016
Yesterday ALLETE Inc (NYSE:ALE) traded -1.59% lower at $56.81. ALLETE Inc’s 50-day average is $59.76 and its two hundred day average is $59.51. With the last close down -4.54% relative to the two hundred day average, compared with the S&P 500 Index which has decreased -0.01% over the date range. Volume of trade was down over the average, with 182,646 shares of ALE changing hands under the typical 194,505
Zacks Investment Research has upgraded ALLETE Inc (NYSE:ALE) to Hold in a statement released on 10/11/2016.
With a total market value of $0, ALLETE Inc has price-earnings ratio of 18.65 with a one year low of $47.93 and a one year high of $65.41 .
A total of 6 equity analysts have released a ratings update on ALLETE Inc. Two brokers rating the stock a strong buy, two equity analysts rating the stock a buy, 2 analysts rating the company a hold, 1 broker rating the company a underperform, and finally zero firms rating the stock a sell with a consensus stock price target of $57.17.
Brief Synopsis On ALLETE Inc (NYSE:ALE)
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. Its regulated utility operations include retail and wholesale activities. The ALLETE Clean Energy segment focuses on developing, acquiring and operating clean and renewable energy projects. The ALLETE Clean Energy segment owns and operates in approximately four states with over 530 megawatt (MW) nameplate capacity wind energy generation. Its U.S. Water Services segment provides integrated water management for industry by combining chemical, equipment, engineering and service for customized solutions. Its U.S. Water Services segment serves the food and beverage, industrial, power generation, and midstream oil and gas industries.
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