JP Morgan Keeps ALLETE (NYSE:ALE) As a Underweight; They Now Have a Target Price per Share Of $73

October 13, 2017 - By Clifton Ray

 JP Morgan Keeps ALLETE (NYSE:ALE) As a Underweight; They Now Have a Target Price per Share Of $73

Investors sentiment decreased to 1.31 in Q2 2017. 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.

Grimes & Co Inc holds 7,212 shares or 0.06% of its portfolio. Balyasny Asset Mgmt Ltd Limited Liability Company owns 19,300 shares or 0.01% of their US portfolio. Jpmorgan Chase has invested 0% of its portfolio in ALLETE Inc (NYSE:ALE). Inv Centers Of America stated it has 0.02% in ALLETE Inc (NYSE:ALE). Sg Americas Limited Liability Com reported 7,687 shares stake. Sei Invests reported 92,970 shares. Aperio Group Ltd holds 0.01% in ALLETE Inc (NYSE:ALE) or 22,681 shares. Dean Inv Associates Ltd Liability holds 89,727 shares. Panagora Asset Mgmt Inc has invested 0.13% in ALLETE Inc (NYSE:ALE). Vanguard Gp Inc holds 0.02% or 4.96M shares in its portfolio. Magellan Asset Mgmt Limited stated it has 0.01% in ALLETE Inc (NYSE:ALE). Prudential Financial holds 0.01% or 86,443 shares in its portfolio. Manufacturers Life Insurance Communication The has invested 0% in ALLETE Inc (NYSE:ALE). Westwood Grp accumulated 267,397 shares. Asset Management One Com Limited stated it has 109,654 shares or 0.02% of all its holdings.

Since May 9, 2017, it had 0 insider buys, and 1 insider sale for $139,340 activity. DeVinck Steven Q also sold $139,340 worth of ALLETE Inc (NYSE:ALE) on Tuesday, May 9.

ALLETE (NYSE:ALE) Rating Reaffirmed

They currently have a $73 target on ALLETE (NYSE:ALE). The target price by JP Morgan would suggest a potential downside of -7.12 % from the company’s last close price. This has been disclosed in analysts report on Thursday morning.

Investors sentiment decreased to 1.31 in Q2 2017. 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.

Grimes & Co Inc holds 7,212 shares or 0.06% of its portfolio. Balyasny Asset Mgmt Ltd Limited Liability Company owns 19,300 shares or 0.01% of their US portfolio. Jpmorgan Chase has invested 0% of its portfolio in ALLETE Inc (NYSE:ALE). Inv Centers Of America stated it has 0.02% in ALLETE Inc (NYSE:ALE). Sg Americas Limited Liability Com reported 7,687 shares stake. Sei Invests reported 92,970 shares. Aperio Group Ltd holds 0.01% in ALLETE Inc (NYSE:ALE) or 22,681 shares. Dean Inv Associates Ltd Liability holds 89,727 shares. Panagora Asset Mgmt Inc has invested 0.13% in ALLETE Inc (NYSE:ALE). Vanguard Gp Inc holds 0.02% or 4.96M shares in its portfolio. Magellan Asset Mgmt Limited stated it has 0.01% in ALLETE Inc (NYSE:ALE). Prudential Financial holds 0.01% or 86,443 shares in its portfolio. Manufacturers Life Insurance Communication The has invested 0% in ALLETE Inc (NYSE:ALE). Westwood Grp accumulated 267,397 shares. Asset Management One Com Limited stated it has 109,654 shares or 0.02% of all its holdings.

Since May 9, 2017, it had 0 insider buys, and 1 insider sale for $139,340 activity. DeVinck Steven Q also sold $139,340 worth of ALLETE Inc (NYSE:ALE) on Tuesday, May 9.

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 rating was downgraded by Wunderlich on Monday, October 19 to “Hold”. Williams Capital Group downgraded the stock to “Hold” rating in Tuesday, March 29 report. JP Morgan maintained the shares of ALE in report on Wednesday, March 30 with “Underweight” rating. Williams Capital Group maintained ALLETE Inc (NYSE:ALE) on Monday, June 19 with “Buy” rating. Wunderlich upgraded the shares of ALE in report on Tuesday, December 8 to “Buy” rating. As per Thursday, October 12, the company rating was maintained by JP Morgan. Williams Capital Group maintained the stock with “Buy” rating in Friday, April 21 report. The firm earned “Market Perform” rating on Thursday, October 15 by Wells Fargo. As per Thursday, October 12, the company rating was downgraded by Williams Capital Group. The firm earned “Neutral” rating on Friday, November 4 by Macquarie Research.

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 expect ALLETE Inc (NYSE:ALE) to report $0.84 EPS on November, 3.They anticipate $0.15 EPS change or 15.15 % from last quarter’s $0.99 EPS. ALE’s profit would be $42.64M giving it 23.39 P/E if the $0.84 EPS is correct. After having $0.72 EPS previously, ALLETE Inc’s analysts see 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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