Universal Beteiligungs und Servicegesellschaft mbH Sells 37,718 Shares of Allete, Inc. $ALE

Universal Beteiligungs und Servicegesellschaft mbH decreased its position in shares of Allete, Inc. (NYSE:ALE) by 70.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,622 shares of the utilities provider’s stock after selling 37,718 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Allete were worth $1,001,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ALE. Creative Planning lifted its position in shares of Allete by 2.0% during the 2nd quarter. Creative Planning now owns 20,790 shares of the utilities provider’s stock worth $1,332,000 after purchasing an additional 416 shares during the last quarter. SG Americas Securities LLC grew its holdings in Allete by 23.2% in the 2nd quarter. SG Americas Securities LLC now owns 11,669 shares of the utilities provider’s stock valued at $748,000 after buying an additional 2,198 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Allete by 0.7% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 205,325 shares of the utilities provider’s stock worth $13,155,000 after buying an additional 1,381 shares during the period. Police & Firemen s Retirement System of New Jersey increased its position in Allete by 6.0% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 13,112 shares of the utilities provider’s stock worth $840,000 after buying an additional 741 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Allete by 0.9% during the second quarter. Geode Capital Management LLC now owns 1,427,514 shares of the utilities provider’s stock worth $91,477,000 after buying an additional 13,023 shares during the last quarter. 76.55% of the stock is owned by institutional investors and hedge funds.

Allete Stock Performance

ALE opened at $67.59 on Thursday. The stock’s 50 day simple moving average is $66.92 and its 200-day simple moving average is $65.61. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 0.57. The stock has a market cap of $3.93 billion, a PE ratio of 21.32 and a beta of 0.84. Allete, Inc. has a 1 year low of $62.38 and a 1 year high of $67.60.

Allete (NYSE:ALE) last issued its earnings results on Thursday, October 30th. The utilities provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.34). The firm had revenue of $375.00 million during the quarter, compared to the consensus estimate of $434.90 million. Allete had a return on equity of 5.71% and a net margin of 11.98%.

Analyst Upgrades and Downgrades

ALE has been the topic of several research analyst reports. Wall Street Zen downgraded shares of Allete from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Weiss Ratings reissued a “buy (b-)” rating on shares of Allete in a report on Tuesday. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy”.

About Allete

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.