Kestra Advisory Services LLC Has $1.17 Million Holdings in ALLETE, Inc. (NYSE:ALE)

Kestra Advisory Services LLC lifted its stake in ALLETE, Inc. (NYSE:ALEGet Rating) by 100.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,361 shares of the utilities provider’s stock after purchasing an additional 11,698 shares during the period. Kestra Advisory Services LLC’s holdings in ALLETE were worth $1,169,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ALE. SeaCrest Wealth Management LLC acquired a new stake in shares of ALLETE in the 2nd quarter valued at $29,000. BerganKDV Wealth Management LLC raised its holdings in ALLETE by 73.8% during the 3rd quarter. BerganKDV Wealth Management LLC now owns 944 shares of the utilities provider’s stock worth $47,000 after purchasing an additional 401 shares during the last quarter. Venture Visionary Partners LLC bought a new position in shares of ALLETE in the 2nd quarter valued at about $51,000. CWM LLC grew its position in shares of ALLETE by 23.1% during the 2nd quarter. CWM LLC now owns 1,081 shares of the utilities provider’s stock worth $64,000 after buying an additional 203 shares during the period. Finally, CNB Bank acquired a new position in ALLETE in the second quarter valued at approximately $82,000. Institutional investors own 77.52% of the company’s stock.

ALLETE Price Performance

ALE stock opened at $62.29 on Wednesday. The stock has a market cap of $3.56 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 1.72 and a beta of 0.74. The stock has a 50-day moving average price of $65.01 and a two-hundred day moving average price of $60.15. ALLETE, Inc. has a 1 year low of $47.77 and a 1 year high of $68.46. The company has a current ratio of 1.02, a quick ratio of 0.35 and a debt-to-equity ratio of 0.49.

ALLETE (NYSE:ALEGet Rating) last announced its earnings results on Wednesday, November 9th. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.11). ALLETE had a net margin of 12.92% and a return on equity of 6.23%. The firm had revenue of $388.30 million during the quarter, compared to analyst estimates of $361.20 million. Equities analysts forecast that ALLETE, Inc. will post 3.75 EPS for the current fiscal year.

ALLETE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th were paid a dividend of $0.65 per share. The ex-dividend date was Monday, November 14th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.17%. ALLETE’s dividend payout ratio is 70.65%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Guggenheim lowered ALLETE from a “neutral” rating to a “sell” rating and increased their target price for the company from $53.00 to $54.00 in a research note on Monday. JPMorgan Chase & Co. upgraded shares of ALLETE from an “underweight” rating to a “neutral” rating and set a $65.00 price objective for the company in a report on Thursday, November 17th. upgraded shares of ALLETE from a “sell” rating to a “hold” rating in a report on Tuesday, November 22nd. Wells Fargo & Company lifted their target price on ALLETE from $60.00 to $67.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 14th. Finally, Bank of America raised ALLETE from a “neutral” rating to a “buy” rating and raised their price target for the stock from $53.00 to $66.00 in a research report on Monday, November 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $63.20.


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ALLETE, Inc engages in the provision of electric and natural gas utility services. It operates through the following business segments: Regulated Operations, ALLETE Clean Energy, and U.S. Water Services. The Regulated Operations segment includes regulated utilities, Minnesota Power, SWL&P, and investment in ATC, which regulates utilities that own and maintain electric transmission assets.

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Institutional Ownership by Quarter for ALLETE (NYSE:ALE)

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