Allete downgraded to Underweight from Neutral at JPMorgan JPMorgan downgraded Allete to Underweight saying idlings of US Steel and potentially other mines will likely weigh on near-term earnings. The firm believes the mining risk is significant and not priced into consensus estimates. It cut its price target for shares to $47 from $53.
Federal Energy Regulatory Commission to hold a meeting FERC discusses various matters pertaining to Duke Energy, Consolidated Edison Company of New York, Portland General Electric, Entergy Corporation and Allete in an Open Commission Meeting being held at FERC's Washington, D.C. offices on June 18 at 10 am. Webcast Link