Nisa Investment Advisors LLC Has $3.24 Million Stake in Allete, Inc. $ALE

Nisa Investment Advisors LLC decreased its position in shares of Allete, Inc. (NYSE:ALE) by 3.4% in the second quarter, Holdings Channel reports. The fund owned 50,606 shares of the utilities provider’s stock after selling 1,791 shares during the period. Nisa Investment Advisors LLC’s holdings in Allete were worth $3,242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Hexagon Capital Partners LLC lifted its position in Allete by 44.5% during the 1st quarter. Hexagon Capital Partners LLC now owns 591 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 182 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in Allete by 1.3% during the 1st quarter. Louisiana State Employees Retirement System now owns 16,200 shares of the utilities provider’s stock worth $1,064,000 after acquiring an additional 200 shares during the last quarter. State of Michigan Retirement System lifted its position in Allete by 1.5% during the 1st quarter. State of Michigan Retirement System now owns 13,846 shares of the utilities provider’s stock worth $910,000 after acquiring an additional 200 shares during the last quarter. GAMMA Investing LLC lifted its position in Allete by 15.2% during the 1st quarter. GAMMA Investing LLC now owns 1,835 shares of the utilities provider’s stock worth $121,000 after acquiring an additional 242 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. lifted its position in Allete by 2.7% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 10,641 shares of the utilities provider’s stock worth $699,000 after acquiring an additional 284 shares during the last quarter. Institutional investors and hedge funds own 76.55% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of Allete in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Allete has an average rating of “Hold”.

Allete Stock Up 0.0%

Shares of ALE opened at $67.42 on Thursday. The company has a 50-day simple moving average of $65.48 and a 200-day simple moving average of $65.29. The firm has a market capitalization of $3.91 billion, a P/E ratio of 21.27 and a beta of 0.83. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.81 and a current ratio of 1.34. Allete, Inc. has a 52 week low of $62.38 and a 52 week high of $67.50.

Allete (NYSE:ALE) last announced its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.24). The company had revenue of $360.30 million for the quarter, compared to analyst estimates of $425.30 million. Allete had a net margin of 11.98% and a return on equity of 5.71%. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.82 EPS.

Allete Company Profile

ALLETE, Inc operates as an energy company. The company operates through Regulated Operations, ALLETE Clean Energy, and Corporate and Other segments. It generates electricity from coal-fired, biomass co-fired / natural gas, hydroelectric, wind, and solar. In addition, the company provides regulated utility electric 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 150,000 retail customers and 14 non-affiliated municipal customers.