New York State Common Retirement Fund trimmed its position in ALLETE Inc (NYSE:ALE) by 3.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 96,323 shares of the utilities provider’s stock after selling 3,400 shares during the period. New York State Common Retirement Fund owned approximately 0.19% of ALLETE worth $7,445,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of ALE. HighTower Advisors LLC raised its holdings in ALLETE by 24.1% during the second quarter. HighTower Advisors LLC now owns 3,786 shares of the utilities provider’s stock worth $273,000 after acquiring an additional 735 shares in the last quarter. Eagle Boston Investment Management Inc. raised its holdings in ALLETE by 0.4% during the second quarter. Eagle Boston Investment Management Inc. now owns 225,059 shares of the utilities provider’s stock worth $16,132,000 after acquiring an additional 983 shares in the last quarter. Magellan Asset Management Ltd raised its holdings in ALLETE by 6.7% during the second quarter. Magellan Asset Management Ltd now owns 34,562 shares of the utilities provider’s stock worth $2,477,000 after acquiring an additional 2,174 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in ALLETE by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 888,262 shares of the utilities provider’s stock worth $63,671,000 after acquiring an additional 22,706 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in ALLETE by 8.9% during the second quarter. Legal & General Group Plc now owns 245,292 shares of the utilities provider’s stock worth $17,588,000 after acquiring an additional 20,019 shares in the last quarter. Institutional investors own 73.20% of the company’s stock.

Several analysts recently issued reports on ALE shares. ValuEngine upgraded ALLETE from a “hold” rating to a “buy” rating in a report on Thursday, September 7th. Zacks Investment Research raised ALLETE from a “sell” rating to a “hold” rating and set a $88.00 price target on the stock in a research report on Tuesday, October 10th. Williams Capital reissued a “hold” rating and set a $79.00 price target on shares of ALLETE in a research report on Thursday, October 12th. Ladenburg Thalmann Financial Services downgraded ALLETE from a “buy” rating to a “neutral” rating and set a $78.00 price target on the stock. in a research report on Friday, October 20th. Finally, J P Morgan Chase & Co boosted their price target on ALLETE from $73.00 to $76.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 15th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the stock. ALLETE currently has a consensus rating of “Hold” and an average price target of $80.25.

ALLETE Inc (NYSE:ALE) opened at $73.45 on Friday. The firm has a market capitalization of $3,756.52, a P/E ratio of 20.33, a price-to-earnings-growth ratio of 3.18 and a beta of 0.47. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.71. ALLETE Inc has a 12-month low of $61.64 and a 12-month high of $81.24.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th were given a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date was Tuesday, November 14th. ALLETE’s dividend payout ratio (DPR) is presently 61.85%.

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About ALLETE

ALLETE, Inc is an energy company. The Company’s segments include Regulated Operations, ALLETE Clean Energy, Inc (ALLETE Clean Energy), U.S. Water Services Holding Company (U.S. Water Services), and Corporate and Other. The Regulated Operations segment includes its regulated utilities, Minnesota Power, and Superior Water, Light and Power Company, and its investment in American Transmission Company LLC.

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Institutional Ownership by Quarter for ALLETE (NYSE:ALE)

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