Allete, Inc (NYSE: ALE) has a price-to-earnings ratio that is above its average at 20.63x. The stock has a 36-month beta value of 0.79. Opinions on the stock are mixed, with 1 analysts rating it as a “buy,” 0 as “overweight,” 3 as “hold,” and 0 as “sell.”
The public float for ALE is 57.66M, and at present, short sellers hold a 1.73% of that float. On December 25, 2024, the average trading volume of ALE was 279.80K shares.
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ALE) stock’s latest price update
Allete, Inc (NYSE: ALE)’s stock price has dropped by -0.36 in relation to previous closing price of 64.60. Nevertheless, the company has seen a loss of -0.48% in its stock price over the last five trading days. businesswire.com reported 2024-12-19 that DULUTH, Minn.–(BUSINESS WIRE)–ALLETE, Inc. (NYSE: ALE) announced that the Federal Energy Regulatory Commission (FERC) approved the company’s proposed transaction with Canada Pension Plan Investment Board (CPP Investments) and Global Infrastructure Partners (GIP). “FERC’s approval of ALLETE’s proposed transaction with CPP Investments and GIP marks an important milestone and brings us one step closer to realizing the benefits of this transaction for our customers, our communities, our co-worker.
ALE’s Market Performance
Allete, Inc (ALE) has seen a -0.48% fall in stock performance for the week, with a -0.86% decline in the past month and a 0.26% surge in the past quarter. The volatility ratio for the week is 0.48%, and the volatility levels for the past 30 days are at 0.45% for ALE. The simple moving average for the past 20 days is -0.47% for ALE’s stock, with a 2.32% simple moving average for the past 200 days.
Analysts’ Opinion of ALE
Many brokerage firms have already submitted their reports for ALE stocks, with Guggenheim repeating the rating for ALE by listing it as a “Neutral.” The predicted price for ALE in the upcoming period, according to Guggenheim is $58 based on the research report published on January 22, 2024 of the current year 2024.
Sidoti, on the other hand, stated in their research note that they expect to see ALE reach a price target of $64. The rating they have provided for ALE stocks is “Neutral” according to the report published on January 10th, 2024.
BofA Securities gave a rating of “Underperform” to ALE, setting the target price at $54 in the report published on June 27th of the previous year.
ALE Trading at -0.28% from the 50-Day Moving Average
After a stumble in the market that brought ALE to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -2.26% of loss for the given period.
Volatility was left at 0.45%, however, over the last 30 days, the volatility rate increased by 0.48%, as shares sank -0.97% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -0.05% lower at present.
During the last 5 trading sessions, ALE fell by -0.48%, which changed the moving average for the period of 200-days by +10.32% in comparison to the 20-day moving average, which settled at $64.67. In addition, Allete, Inc saw 5.25% in overturn over a single year, with a tendency to cut further gains.
Stock Fundamentals for ALE
Current profitability levels for the company are sitting at:
- 0.11 for the present operating margin
- 0.19 for the gross margin
The net margin for Allete, Inc stands at 0.11. The total capital return value is set at 0.03. Equity return is now at value 6.42, with 2.69 for asset returns.
Based on Allete, Inc (ALE), the company’s capital structure generated 0.39 points at debt to capital in total, while cash flow to debt ratio is standing at 0.24. The debt to equity ratio resting at 0.63. The interest coverage ratio of the stock is 2.05.
Currently, EBITDA for the company is 539.4 million with net debt to EBITDA at 3.63. When we switch over and look at the enterprise to sales, we see a ratio of 3.46. The receivables turnover for the company is 11.46for trailing twelve months and the total asset turnover is 0.23. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.45.
Conclusion
To sum up, Allete, Inc (ALE) has seen a mixed performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
