Keeley Teton Advisors LLC Has $26.62 Million Position in Allete, Inc. (ALE)

Keeley Teton Advisors LLC cut its stake in Allete, Inc. (NYSE:ALE) by 20.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 344,418 shares of the utilities provider’s stock after selling 89,580 shares during the period. Allete accounts for 1.4% of Keeley Teton Advisors LLC’s investment portfolio, making the stock its 16th largest holding. Keeley Teton Advisors LLC owned about 0.67% of Allete worth $26,620,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in ALE. HighTower Advisors LLC lifted its stake in Allete by 24.1% in the second quarter. HighTower Advisors LLC now owns 3,786 shares of the utilities provider’s stock valued at $273,000 after buying an additional 735 shares during the period. Eagle Boston Investment Management Inc. lifted its stake in Allete by 0.4% in the second quarter. Eagle Boston Investment Management Inc. now owns 225,059 shares of the utilities provider’s stock valued at $16,132,000 after buying an additional 983 shares during the period. Magellan Asset Management Ltd lifted its stake in Allete by 6.7% in the second quarter. Magellan Asset Management Ltd now owns 34,562 shares of the utilities provider’s stock valued at $2,477,000 after buying an additional 2,174 shares during the period. Bank of New York Mellon Corp lifted its stake in Allete by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 888,262 shares of the utilities provider’s stock valued at $63,671,000 after buying an additional 22,706 shares during the period. Finally, Legal & General Group Plc lifted its stake in Allete by 8.9% in the second quarter. Legal & General Group Plc now owns 245,292 shares of the utilities provider’s stock valued at $17,588,000 after buying an additional 20,019 shares during the period. Institutional investors and hedge funds own 73.14% of the company’s stock.

ALE has been the topic of a number of research reports. Zacks Investment Research raised Allete from a “sell” rating to a “hold” rating in a research report on Monday, August 14th. J P Morgan Chase & Co upped their target price on Allete from $66.00 to $73.00 and gave the stock an “underweight” rating in a research report on Thursday, October 12th. BidaskClub raised Allete from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 22nd. ValuEngine lowered Allete from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Finally, Williams Capital reaffirmed a “hold” rating and set a $79.00 target price on shares of Allete in a research report on Thursday, October 12th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $80.25.

Shares of Allete, Inc. (NYSE ALE) opened at $78.65 on Wednesday. Allete, Inc. has a 1-year low of $61.64 and a 1-year high of $81.24. The stock has a market capitalization of $4,103.08, a price-to-earnings ratio of 22.21, a P/E/G ratio of 4.10 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.

The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Wednesday, November 15th were issued a dividend of $0.535 per share. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a $2.14 annualized dividend and a yield of 2.72%. Allete’s dividend payout ratio (DPR) is currently 61.85%.

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Allete Company Profile

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.

Institutional Ownership by Quarter for Allete (NYSE:ALE)

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