APG Asset Management N.V. grew its position in ALLETE Inc (NYSE:ALE) by 41.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,300 shares of the utilities provider’s stock after purchasing an additional 11,600 shares during the quarter. APG Asset Management N.V.’s holdings in ALLETE were worth $2,434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. State Street Corp boosted its position in shares of ALLETE by 4.1% in the second quarter. State Street Corp now owns 1,328,131 shares of the utilities provider’s stock worth $95,203,000 after purchasing an additional 52,526 shares during the period. Macquarie Group Ltd. boosted its position in shares of ALLETE by 4,655.4% in the third quarter. Macquarie Group Ltd. now owns 675,263 shares of the utilities provider’s stock worth $52,192,000 after purchasing an additional 661,063 shares during the period. Polaris Capital Management LLC boosted its position in shares of ALLETE by 1.3% in the second quarter. Polaris Capital Management LLC now owns 438,500 shares of the utilities provider’s stock worth $31,432,000 after purchasing an additional 5,800 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of ALLETE by 4.7% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 331,381 shares of the utilities provider’s stock worth $24,642,000 after purchasing an additional 14,858 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of ALLETE by 11.6% in the third quarter. Ameriprise Financial Inc. now owns 316,862 shares of the utilities provider’s stock worth $24,492,000 after purchasing an additional 32,972 shares during the period. Institutional investors and hedge funds own 73.16% of the company’s stock.
ALLETE Inc (NYSE ALE) opened at $68.73 on Thursday. ALLETE Inc has a 1-year low of $64.56 and a 1-year high of $81.24. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.34 and a quick ratio of 0.98. The company has a market cap of $3,506.43, a price-to-earnings ratio of 19.86, a PEG ratio of 2.70 and a beta of 0.33.
Several research firms have recently commented on ALE. JPMorgan Chase & Co. lowered their target price on shares of ALLETE from $76.00 to $73.00 and set an “underweight” rating on the stock in a report on Thursday, January 25th. Zacks Investment Research raised shares of ALLETE from a “sell” rating to a “hold” rating in a report on Tuesday, January 16th. Williams Capital reissued a “hold” rating and issued a $79.00 target price on shares of ALLETE in a report on Thursday, October 12th. Finally, Ladenburg Thalmann Financial Services downgraded shares of ALLETE from a “buy” rating to a “neutral” rating and set a $78.00 target price on the stock. in a report on Friday, October 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $78.75.
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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.
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