ALLETE (ALE) “Underweight” Rating Kept by Analysts at JP Morgan; The Target Given is $76; John Hancock Premium Dividend Fund Has 1.06 Sentiment

November 15, 2017 - By Richard Conner

Among 7 analysts covering ALLETE Inc (NYSE:ALE), 1 have Buy rating, 1 Sell and 5 Hold. Therefore 14% are positive. ALLETE Inc has $78 highest and $54 lowest target. $71.50’s average target is -8.91% below currents $78.49 stock price. ALLETE Inc had 13 analyst reports since October 15, 2015 according to SRatingsIntel. The rating was upgraded by Wunderlich to “Buy” on Tuesday, December 8. Macquarie Research initiated ALLETE Inc (NYSE:ALE) on Friday, November 4 with “Neutral” rating. The stock of ALLETE Inc (NYSE:ALE) earned “Buy” rating by Williams Capital Group on Monday, June 19. The stock of ALLETE Inc (NYSE:ALE) has “Underweight” rating given on Wednesday, March 30 by JP Morgan. The rating was downgraded by Williams Capital Group on Thursday, October 12 to “Hold”. The rating was downgraded by Williams Capital Group to “Hold” on Tuesday, March 29. JP Morgan maintained it with “Underweight” rating and $73 target in Thursday, October 12 report. The rating was maintained by Williams Capital Group with “Buy” on Friday, April 21. Wells Fargo initiated the stock with “Market Perform” rating in Thursday, October 15 report. The firm has “Hold” rating given on Thursday, October 19 by KeyBanc Capital Markets.

John Hancock Premium Dividend Fund is a diversified, closed-end management investment company. The company has market cap of $809.95 million. The Fund’s investment objective is to provide high current income, consistent with modest growth of capital. It currently has negative earnings. The Fund seeks to pursue its objective by investing in a diversified portfolio comprised primarily of dividend paying preferred securities and common equity securities.

It closed at $16.77 lastly. It is down 8.55% since November 15, 2016 and is uptrending. It has underperformed by 8.15% the S&P500.

Advisory Services Network Llc holds 0.19% of its portfolio in John Hancock Patriot Premium Div Fund II for 85,707 shares. Holderness Investments Co owns 14,847 shares or 0.13% of their US portfolio. Moreover, Ifc Holdings Incorporated Fl has 0.09% invested in the company for 72,851 shares. The Ohio-based Stratos Wealth Partners Ltd. has invested 0.08% in the stock. Baldwin Brothers Inc Ma, a Massachusetts-based fund reported 24,095 shares.

Analysts await ALLETE Inc (NYSE:ALE) to report earnings on February, 21. They expect $0.81 EPS, down 8.99% or $0.08 from last year’s $0.89 per share. ALE’s profit will be $41.38 million for 24.23 P/E if the $0.81 EPS becomes a reality. After $1.04 actual EPS reported by ALLETE Inc for the previous quarter, Wall Street now forecasts -22.12% negative EPS growth.

Investors sentiment decreased to 1.31 in 2017 Q2. Its down 0.52, from 1.83 in 2017Q1. It is negative, as 20 investors sold ALLETE Inc shares while 71 reduced holdings. 32 funds opened positions while 87 raised stakes. 35.07 million shares or 1.35% less from 35.55 million shares in 2017Q1 were reported. Oppenheimer Asset Mgmt reported 0% in ALLETE Inc (NYSE:ALE). Verition Fund Mgmt Ltd Liability Co accumulated 5,000 shares. Waddell Reed Fincl Inc holds 133,100 shares. Amalgamated Financial Bank reported 0.02% stake. Inv Centers Of America owns 3,321 shares for 0.02% of their portfolio. Monarch Asset Management Ltd Company holds 185,475 shares. Fincl has 27 shares for 0% of their portfolio. Moreover, Cetera Advisor Network Limited Liability has 0.02% invested in ALLETE Inc (NYSE:ALE) for 6,791 shares. Asset Mgmt Inc reported 8,839 shares. Clarivest Asset Mngmt Limited Liability Company holds 0.13% of its portfolio in ALLETE Inc (NYSE:ALE) for 75,500 shares. Adams Diversified Equity Fund has invested 0.06% of its portfolio in ALLETE Inc (NYSE:ALE). Moreover, Eagle Asset Mngmt has 0.1% invested in ALLETE Inc (NYSE:ALE) for 223,844 shares. First Advsrs Lp stated it has 0.06% of its portfolio in ALLETE Inc (NYSE:ALE). Westwood Gp Incorporated reported 267,397 shares. Metropolitan Life Ins Company owns 33,992 shares.

It closed at $78.49 lastly. It is down 26.32% since November 15, 2016 and is uptrending. It has outperformed by 9.62% the S&P500.

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