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Allete (NYSE:ALE) Sector Weight Rating at KeyBanc from Overweight

KeyBanc Capital Markets Analyst Rating Change Allete NYSE:ALE

Allete (NYSE:ALE) Downgrade of Rating

KeyBanc lowered the shares of Allete (NYSE:ALE) from a Overweight rating to Sector Weight rating in a report revealed to investors on Thursday, 19 October.

According to data compiled by Thomson Reuters, Allete (NYSE:ALE)’s stock is covered by 6 equity analysts across the Street, with 1 analysts giving it a Sell rating, 4 a Buy rating, while 2 consider it a Hold. The 12-month consensus target price for the stock is $57.17, which reflects an downside potential of 27.67% over the current price.

Institutional Ownership

Deroy & Devereaux Private Investment Counsel Inc had the largest stake with ownership of 252,796 shares as of Q2 2015 for 1.9% of the equity exposure. Lombardia Capital Partners Llc is another bull as the investment professional who is owning 453,345 shares of Allete or 1.83% of their equity exposure. Also, Channing Capital Management Llc have 1.67% of their equity exposure invested in the company for 705,110 shares. The Massachusetts-based fund Eagle Boston Investment Management Inc revealed it had purchased a stake worth about 1.64% of the investment professional’s stock portfolio in Allete. The Massachusetts-based fund Aristotle Capital Boston Llc is also positive about the stock, possessing 214,073 shares or 1.53% of their equity exposure.

Allete (NYSE:ALE) Profile

ALLETE, Inc. is an energy company. The Company’s segments include Regulated Operations, ALLETE Clean Energy, Inc. (ALLETE Clean Energy), U.S. Water Services Holding Company (U.S.

Allete (NYSE:ALE) traded down -0.38% on 19 October, hitting $79.04. A total of 27,820 shares of the company’s stock traded hands. This is down from average of 207,034 shares. Allete has a 52 week low of $56.48 and a 52 week high of $79.69. The company has a market cap of $4.03B and a P/E ratio of 23.26.

Get the latest Allete (NYSE:ALE) Stock Ratings at Octafinance. Completely free access to our Analyst Ratings Database for 6000+ stocks.

The post Allete (NYSE:ALE) Sector Weight Rating at KeyBanc from Overweight appeared first on Octafinance.



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