Coldstream Capital Management Inc. Acquires 639 Shares of ALLETE Inc (ALE)

Coldstream Capital Management Inc. grew its position in ALLETE Inc (NYSE:ALE) by 4.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 15,602 shares of the utilities provider’s stock after buying an additional 639 shares during the period. Coldstream Capital Management Inc.’s holdings in ALLETE were worth $1,189,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in ALE. FMR LLC bought a new stake in shares of ALLETE in the third quarter valued at about $122,000. Ffcm LLC lifted its holdings in shares of ALLETE by 120.0% in the fourth quarter. Ffcm LLC now owns 1,659 shares of the utilities provider’s stock valued at $126,000 after purchasing an additional 905 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of ALLETE in the third quarter valued at about $128,000. Trexquant Investment LP bought a new stake in shares of ALLETE in the third quarter valued at about $208,000. Finally, Advisor Group Inc. lifted its holdings in shares of ALLETE by 6.5% in the fourth quarter. Advisor Group Inc. now owns 2,853 shares of the utilities provider’s stock valued at $218,000 after purchasing an additional 173 shares in the last quarter. 70.83% of the stock is owned by institutional investors and hedge funds.

NYSE ALE traded down $0.26 during trading on Friday, reaching $79.53. 131,839 shares of the company’s stock were exchanged, compared to its average volume of 184,113. ALLETE Inc has a fifty-two week low of $70.46 and a fifty-two week high of $84.26. The company has a quick ratio of 0.61, a current ratio of 0.83 and a debt-to-equity ratio of 0.66. The company has a market cap of $4.11 billion, a PE ratio of 22.03, a price-to-earnings-growth ratio of 3.06 and a beta of 0.29.

ALLETE (NYSE:ALE) last posted its earnings results on Thursday, February 14th. The utilities provider reported $1.18 EPS for the quarter, beating the consensus estimate of $1.13 by $0.05. ALLETE had a return on equity of 8.76% and a net margin of 11.62%. The company had revenue of $448.30 million for the quarter, compared to the consensus estimate of $413.00 million. During the same quarter in the prior year, the business earned $0.81 earnings per share. The firm’s revenue for the quarter was up 32.7% on a year-over-year basis. As a group, research analysts anticipate that ALLETE Inc will post 3.61 EPS for the current fiscal year.

Several analysts recently issued reports on ALE shares. Zacks Investment Research lowered ALLETE from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Williams Capital upgraded ALLETE from a “sell” rating to a “hold” rating and upped their target price for the stock from $69.00 to $76.00 in a report on Tuesday, February 19th. Finally, Mizuho downgraded ALLETE from a “neutral” rating to an “underperform” rating and set a $79.30 price target on the stock. in a research report on Monday, February 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $78.46.

In other news, Chairman Alan R. Hodnik sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $80.59, for a total value of $322,360.00. Following the transaction, the chairman now owns 80,453 shares of the company’s stock, valued at $6,483,707.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.43% of the stock is currently owned by corporate insiders.

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ALLETE Company 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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