Currently, there are 57.80M common shares owned by the public and among those 57.69M shares have been available to trade.
The company’s stock has a 5-day price change of -0.32% and 0.54% over the past three months. ALE shares are trading 0.96% year to date (YTD), with the 12-month market performance up to 14.55% higher. It has a 12-month low price of $55.86 and touched a high of $65.99 over the same period. ALE has an average intraday trading volume of 347.39K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.35%, 0.41%, and 2.17% respectively.
Institutional ownership of Allete, Inc (NYSE: ALE) shares accounts for 73.35% of the company’s 57.80M shares outstanding.
It has a market capitalization of $3.79B and a beta (3y monthly) value of 0.73. The stock’s trailing 12-month PE ratio is 20.96, while the earnings-per-share (ttm) stands at $3.12. The company has a PEG of 1.34 and a Quick Ratio of 0.95 with the debt-to-equity ratio at 0.64. Price movements for the stock have been influenced by the stock’s volatility, which stands at 0.36% over the week and 0.39% over the month.
Earnings per share for the fiscal year are expected to increase by 27.34%, and 10.48% over the next financial year. EPS should grow at an annualized rate of 15.69% over the next five years, compared to 4.95% over the past 5-year period.
Looking at the support for the ALE, a number of firms have released research notes about the stock. Guggenheim stated their Neutral rating for the stock in a research note on January 22, 2024, with the firm’s price target at $58. Sidoti coverage for the Allete, Inc (ALE) stock in a research note released on January 10, 2024 offered a Neutral rating with a price target of $64. BofA Securities was of a view on June 27, 2023 that the stock is Underperform, while BofA Securities gave the stock Neutral rating on May 05, 2023, issuing a price target of $66- $63. Sidoti on their part issued Buy rating on April 06, 2023.
