Short Interest Worth Mentioning Today: What’s Allete Incorporated (NYSE:ALE) Upside After This Short Interest Increase?

November 24, 2016 - By Marguerite Chambers   ·   0 Comments

Short Interest Worth Mentioning Today: What's Allete Incorporated (NYSE:ALE) Upside After This Short Interest Increase?

The stock of Allete Incorporated (NYSE:ALE) registered an increase of 19.65% in short interest. ALE’s total short interest was 1.01 million shares in November as published by FINRA. Its up 19.65% from 841,300 shares, reported previously. With 198,300 shares average volume, it will take short sellers 5 days to cover their ALE’s short positions. The short interest to Allete Incorporated’s float is 2.05%. The stock decreased 0.75% or $0.47 on November 23, hitting $62.1. About 239,290 shares traded hands or 8.76% up from the average. ALLETE Inc (NYSE:ALE) has risen 13.59% since April 22, 2016 and is uptrending. It has outperformed by 8.18% the S&P500.

ALLETE, Inc. is an energy company. The Firm operates through three divisions. The company has a market cap of $3.13 billion. The Regulated Operations segment includes its regulated utilities, Minnesota Power and Superior Water, Light and Power Company , as well as its investment in American Transmission Company LLC (ATC), a regulated utility that owns and maintains electric transmission assets. It has a 23.71 P/E ratio. The Company’s regulated utility activities include retail and wholesale activities.

Insitutional Activity: The institutional sentiment increased to 1.44 in 2016 Q2. Its up 0.28, from 1.16 in 2016Q1. The ratio is positive, as 23 funds sold all ALLETE Inc shares owned while 70 reduced positions. 29 funds bought stakes while 79 increased positions. They now own 33.41 million shares or 3.56% less from 34.64 million shares in 2016Q1.
Envestnet Asset Mngmt last reported 0% of its portfolio in the stock. Rodgers Brothers Incorporated accumulated 0.18% or 6,890 shares. Old Natl Bank In accumulated 3,716 shares or 0.01% of the stock. Reilly Fin Advisors Ltd Liability has 55 shares for 0% of their US portfolio. Ent Fincl holds 0% of its portfolio in ALLETE Inc (NYSE:ALE) for 27 shares. Panagora Asset Management Inc has 242,718 shares for 0.08% of their US portfolio. Allianz Asset Mgmt Ag owns 700,623 shares or 0.02% of their US portfolio. Duff And Phelps Invest Mngmt holds 0.04% of its portfolio in ALLETE Inc (NYSE:ALE) for 38,510 shares. Verition Fund Limited Liability Company has invested 0.38% of its portfolio in ALLETE Inc (NYSE:ALE). Advisory Net Ltd Limited Liability Company has invested 0% of its portfolio in ALLETE Inc (NYSE:ALE). Pub Employees Retirement Association Of Colorado holds 0.01% of its portfolio in ALLETE Inc (NYSE:ALE) for 13,016 shares. Macquarie Ltd has 0% invested in the company for 11,400 shares. Us Natl Bank De reported 56,418 shares or 0.01% of all its holdings. Teacher Retirement Systems Of Texas has 6,508 shares for 0% of their US portfolio. Gamco Invsts Incorporated Et Al last reported 6,600 shares in the company.

ALLETE Inc (NYSE:ALE) Ratings Coverage

Out of 5 analysts covering ALLETE Inc (NYSE:ALE), 1 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 20% are positive. $57 is the highest target while $54 is the lowest. The $55.50 average target is -10.63% below today’s ($62.1) stock price. ALLETE Inc has been the topic of 7 analyst reports since October 15, 2015 according to StockzIntelligence Inc. On Thursday, October 15 the stock rating was initiated by Wells Fargo with “Market Perform”. Wunderlich downgraded the shares of ALE in a report on Monday, October 19 to “Hold” rating. The firm has “Neutral” rating given on Friday, November 4 by Macquarie Research. Wunderlich upgraded the stock to “Buy” rating in Tuesday, December 8 report. Williams Capital Group downgraded the shares of ALE in a report on Tuesday, March 29 to “Hold” rating. JP Morgan maintained ALLETE Inc (NYSE:ALE) on Wednesday, March 30 with “Underweight” rating.

ALE Company Profile

ALLETE, Inc., incorporated on January 25, 1906, is an energy company. The Firm operates through three divisions: Regulated Operations, ALLETE Clean Energy and U.S. Water Services. The Regulated Operations segment includes its regulated utilities, Minnesota Power and Superior Water, Light and Power Company (SWL&P), as well as its investment in American Transmission Company LLC (ATC), a regulated utility that owns and maintains electric transmission assets in parts of Wisconsin, Michigan, Minnesota and Illinois. The Company’s regulated utility activities include retail and wholesale activities. Minnesota Power provides regulated utility electric service in northeastern Minnesota to approximately 145,000 retail customers. SWL&P is a Wisconsin utility and a wholesale customer of Minnesota Power.

More recent ALLETE Inc (NYSE:ALE) news were published by: Businesswire.com which released: “ALLETE Subsidiary Strengthens Presence in Southwestern U.S. Water Market with …” on November 18, 2016. Also Businesswire.com published the news titled: “CORRECTING and REPLACING ALLETE, Inc. Reports Third Quarter 2016 Earnings” on November 04, 2016. Streetinsider.com‘s news article titled: “ALLETE, Inc. (ALE) CFO Steve DeVinck to Retire” with publication date: September 26, 2016 was also an interesting one.

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By Marguerite Chambers


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