Metropolitan Life Insurance Co NY Has $2.44 Million Position in ALLETE Inc (NYSE:ALE)

Metropolitan Life Insurance Co NY lessened its holdings in ALLETE Inc (NYSE:ALE) by 0.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,633 shares of the utilities provider’s stock after selling 163 shares during the period. Metropolitan Life Insurance Co NY owned approximately 0.06% of ALLETE worth $2,436,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. AdvisorNet Financial Inc increased its holdings in shares of ALLETE by 5.5% in the 1st quarter. AdvisorNet Financial Inc now owns 13,169 shares of the utilities provider’s stock worth $1,083,000 after acquiring an additional 683 shares during the period. Magellan Asset Management Ltd increased its stake in ALLETE by 19.9% during the 1st quarter. Magellan Asset Management Ltd now owns 40,596 shares of the utilities provider’s stock valued at $3,338,000 after buying an additional 6,750 shares during the period. Archford Capital Strategies LLC acquired a new position in ALLETE during the 1st quarter valued at about $27,000. Alphasimplex Group LLC acquired a new position in ALLETE during the 1st quarter valued at about $399,000. Finally, Northern Trust Corp increased its stake in ALLETE by 1.3% during the 1st quarter. Northern Trust Corp now owns 1,066,106 shares of the utilities provider’s stock valued at $87,665,000 after buying an additional 13,584 shares during the period. 71.64% of the stock is owned by institutional investors.

Several equities analysts have commented on ALE shares. Zacks Investment Research cut shares of GreenTree Hospitality Group from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Monday, May 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $79.06.

Shares of ALE traded down $0.13 during midday trading on Friday, hitting $86.86. The stock had a trading volume of 212,062 shares, compared to its average volume of 247,014. The stock’s 50-day moving average price is $84.15. The company has a current ratio of 1.73, a quick ratio of 1.50 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $4.49 billion, a price-to-earnings ratio of 24.06, a P/E/G ratio of 3.33 and a beta of 0.25. ALLETE Inc has a fifty-two week low of $72.42 and a fifty-two week high of $87.39.

ALLETE (NYSE:ALE) last posted its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.01). The company had revenue of $357.20 million during the quarter, compared to analysts’ expectations of $364.00 million. ALLETE had a return on equity of 9.11% and a net margin of 12.93%. ALLETE’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period last year, the company earned $0.99 earnings per share. On average, equities analysts anticipate that ALLETE Inc will post 3.63 earnings per share for the current year.

In other news, CFO Robert John Adams sold 2,885 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $82.45, for a total value of $237,868.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Madeleine W. Ludlow sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $82.51, for a total transaction of $165,020.00. The disclosure for this sale can be found here. Insiders sold 13,620 shares of company stock valued at $1,131,100 over the last three months. 0.43% of the stock is owned by insiders.

ALLETE Profile

ALLETE, Inc operates as an energy company. The company operates through three segments: Regulated Operations, ALLETE Clean Energy, and U.S. Water Services. It generates electricity from coal-fired, wind, hydroelectric, natural gas-fired, biomass co-fired, solar, and other sources. The company provides regulated utility electric, natural gas, and water services in northwestern Wisconsin to approximately 15,000 electric customers, 13,000 natural gas customers, and 10,000 water customers, as well as regulated utility electric services in northeastern Minnesota to approximately 145,000 retail customers and 16 non-affiliated municipal customers.

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Institutional Ownership by Quarter for ALLETE (NYSE:ALE)

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