The stock of Allete Incorporated (NYSE:ALE) registered an increase of 2.43% in short interest. ALE’s total short interest was 1.66 million shares in March as published by FINRA. Its up 2.43% from 1.62M shares, reported previously. With 321,300 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 3.41%. The stock is down 1.38% or $0.72 after the news, hitting $51.58 per share. About 27,387 shares traded hands. ALLETE Inc (NYSE:ALE) has risen 10.04% since July 27, 2015 and is uptrending. It has outperformed by 14.35% the S&P500.
ALLETE, Inc. is a provider of energy. The company has a market cap of $2.50 billion. The Firm operates under the following divisions: Regulated Operations, and Investments and Other. It has 17.69 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).
The institutional sentiment decreased to 0.95 in Q3 2015. Its down 0.51, from 1.46 in 2015Q2. The ratio dived, as 25 funds sold all ALLETE Inc shares owned while 68 reduced positions. 16 funds bought stakes while 72 increased positions. They now own 44.26 million shares or 25.29% more from 35.33 million shares in 2015Q2.
Lombardia Capital Partners Llc holds 2.97% of its portfolio in ALLETE Inc for 1.23 million shares. Channing Capital Management Llc owns 824,024 shares or 2.03% of their US portfolio. Moreover, Deroy & Devereaux Private Investment Counsel Inc has 1.92% invested in the company for 264,858 shares. The Washington-based First Washington Corp has invested 1.73% in the stock. Friedberg Investment Management, a Texas-based fund reported 61,521 shares.
Since March 17, 2015, the stock had 0 buys, and 2 selling transactions for $20,000 net activity. Ludlow Madeleine W sold 200 shares worth $10,000. Mcmillan David J sold 4,019 shares worth $209,008. Hoolihan James J sold 5,196 shares worth $263,611. Amberg Deborah A sold 6,004 shares worth $321,694.
Out of 6 analysts covering ALLETE Inc (NYSE:ALE), 4 rate it “Buy”, 0 “Sell”, while 2 “Hold”. This means 67% are positive. ALLETE Inc was the topic in 4 analyst reports since October 15, 2015 according to StockzIntelligence Inc. Wells Fargo initiated the stock on October 15 with “Market Perform” rating.
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