ALLETE Inc (ALE) : Deroy Devereaux Private Investment Counsel Inc reduced its stake in ALLETE Inc by 6.48% during the most recent quarter end. The investment management company now holds a total of 251,126 shares of ALLETE Inc which is valued at $16,144,891 after selling 17,397 shares in ALLETE Inc , the firm said in a disclosure report filed with the SEC on Jul 13, 2016.ALLETE Inc makes up approximately 2.08% of Deroy Devereaux Private Investment Counsel Inc’s portfolio.
Other Hedge Funds, Including , Capstone Asset Management Co boosted its stake in ALE in the latest quarter, The investment management firm added 540 additional shares and now holds a total of 13,759 shares of ALLETE Inc which is valued at $884,566. ALLETE Inc makes up approx 0.03% of Capstone Asset Management Co’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in ALE in the latest quarter, The investment management firm added 7,993 additional shares and now holds a total of 14,677 shares of ALLETE Inc which is valued at $943,731.
ALLETE Inc opened for trading at $63.68 and hit $64.38 on the upside on Monday, eventually ending the session at $63.89, with a gain of 0.24% or 0.15 points. The heightened volatility saw the trading volume jump to 1,06,704 shares. Company has a market cap of $3,147 M.
On the company’s financial health, ALLETE Inc reported $0.93 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 3, 2016. Analyst had a consensus of $0.90. The company had revenue of $333.80 million for the quarter.The company’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 EPS.
Many Wall Street Analysts have commented on ALLETE Inc. Company shares were Upgraded by Williams Capital Group on May 25, 2016 to ” Buy”, Firm has raised the Price Target to $ 63 from a previous price target of $60 .
ALLETE Inc. is a provider of energy. The Company operates under the following segments: Regulated Operations and Investments and Other. The Company’s Regulated Operations segment includes its regulated utilities Minnesota Power and Superior Water Light and Power Co. (SWL&P) as well as its investment in American Transmission Company (ATC). The Investments and Other segment comprises its energy infrastructure and related services businesses ALLETE Clean Energy Inc. and BNI Coal Inc. Investments and Other segment also includes ALLETE Properties LLC other business development and corporate expenditures unallocated interest expense non-rate base generation approximately 5000 acres of land in Minnesota and earnings on cash and investments. The Company’s subsidiaries include ALLETE Clean Energy Inc. BNI Coal Inc. Rainy River Energy Corporation and ALLETE Properties LLC among others.