Wunderlich Says That It is Time To Finally Upgrade ALLETE Inc (NYSE:ALE) Stock


ALLETE Inc (NYSE:ALE) Stock Upgrade

ALLETE Inc (NYSE:ALE) was boosted by Wunderlich from a Hold rating to a more respectable Buy rating in analysts report distributed to Clients earlier today. They currently have a $55.00 TP on the stock, which would suggest a possible upside of 10.44% from the close price of the stock.

From a total of 6 analysts covering ALLETE Inc (NYSE:ALE) stock, 3 rate it a ”Buy”, 1 a “Sell”, and 3 a ”Hold”. This means that 43% of the ratings are positive. The highest target price is $60 while the lowest target price is $47. The mean of all analyst targets is $54.5 with a 9.67% above today’s ($50.15) stock price. ALLETE Inc was the topic of 3 analyst reports since October 15, 2015 according to the firm StockzIntelligence Inc. Wunderlich upgraded shares on December 8 to “Buy” rating.

The stock increased 0.70% or $0.35 during the last trading session, striking $50.15. Approximately 341,015 shares of stock traded hands or 47.44% up from the average. ALLETE Inc (NYSE:ALE) has risen 1.83% since May 6, 2015 and is uptrending. It has outperformed by 2.62% the S&P500.

The overall sentiment of institutions has decreased to 0.95 in Q2 2015. Its down 0.51, from 1.46 in 2015Q2. The ratio turned negative, as 25 institutions have sold all the shares of ALLETE Inc that they owned while 68 funds have taken shares off the table. 16 funds have purchased shares for the first time while 72 added to their positions. These institutions now hold 44.26 million shares or 25.29% more than the 35.33 million shares they owned in 2015Q2.

The Fund Lombardia Capital Partners Llc currently is holding shares equating to 2.97% of its total portfolio in ALLETE Inc representing a total of 1.23 million shares. Another fund,Channing Capital Management Llc, is holding a total of 824,024 shares equating to 2.03% of their holdings. Additionally, Deroy & Devereaux Private Investment Counsel Inc has a 264,858 share stake in ALLETE Inc which represents 1.92% of their total portfolio. The Fund, First Washington Corp, based out of Washington, has also built up a stake in the stock, which represents a total of 1.73% of their total portfolio. Finally Friedberg Investment Management, a fund which is based in the state of Texas reported a total holdings of 61,521 shares.

Insider activity is a very important aspect to track on any stock. Going back to March 17, 2015, shareholders of ALLETE Inc have witnessed 0 insider buys, and a total of 6 selling transactions equating to a net activity of approximately $734,101 . Ludlow Madeleine W sold 200 shares worth approximately $10,000. Mcmillan David J sold 4,019 shares worth approximately $209,008. Hoolihan James J sold 5,196 shares worth approximately $263,611. Amberg Deborah A sold 6,004 shares worth approximately $321,694.

ALLETE, Inc. is a provider of energy. The company has a market cap of $2.44 billion. The Firm operates under the following divisions: Regulated Operations, and Investments and Other. It has 15.35 P/E ratio. The Company’s Regulated Operations segment includes its regulated utilities, Minnesota Power and Superior Water, Light and Power Co. , as well as its investment in American Transmission Company (ATC).

According to Zacks Investment Research, “ALLETE is a multi-services company. ALLETE’s holdings include the one of the largest wholesale automobile auction networks in North America; a provider of independent auto dealer inventory financing; one of the largest investor-owned water utilities in Florida and North Carolina; significant real estate holdings in Florida and a low-cost electric utility that serves some of the largest industrial customers in the United States. (Company Press Release)” Get a free copy of the Zacks research report on ALLETE Inc (ALE).