Alert: Negative Investment/Fundamental Signals (2/26/24)-ALLETE Inc. (NYSE: ALE)


ALLETE Inc. (NYSE: ALE) has recently experienced extremely important negative changes in investment behavior: the stock’s recent price decline challenged its longer term uptrend, and negative upside/downside volume developed.

Important negative changes in fundamentals have recently occurred for ALLETE Inc. (NYSE: ALE): the stock’s power rating fell below 50, and the consensus estimate for December, 2024 decreased significantly.

In light of these highly negative signals we are reviewing our current Overall Rating of C. We would view the shares with caution pending completion of this review in the next several days.


Current PriceTarget Research Rating

Reflecting future returns on capital that are forecasted to exceed the cost of capital, ALE is expected to continue to be a modest Value Builder.

ALLETE has a current Value Trend Rating of C (High Neutral). The Value Trend Rating reflects consistent signals from PTR’s two proprietary measures of a stock’s attractiveness. ALLETE has a slightly positive Appreciation Score of 69 and a neutral Power Rating of 49, with the High Neutral Value Trend Rating the result.

Recent Price Action

ALLETE Inc. (NYSE: ALE) stock declined modestly by -1.6% on 2/26/24. The stock closed at $56.22. However, unusually low trading volume at 62% of normal accompanied the decline. The stock has performed in line with the market over the last nine months and has declined -4.2% during the last week.

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