ALLETE Inc (NYSE:ALE) Stake Lifted by California Public Employees Retirement System

California Public Employees Retirement System boosted its stake in ALLETE Inc (NYSE:ALE) by 10.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 72,973 shares of the utilities provider’s stock after acquiring an additional 7,173 shares during the quarter. California Public Employees Retirement System owned about 0.14% of ALLETE worth $5,640,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. raised its position in shares of ALLETE by 4.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 301,601 shares of the utilities provider’s stock valued at $21,619,000 after purchasing an additional 13,874 shares in the last quarter. SG Americas Securities LLC raised its position in shares of ALLETE by 23.4% in the 2nd quarter. SG Americas Securities LLC now owns 7,687 shares of the utilities provider’s stock valued at $551,000 after purchasing an additional 1,460 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of ALLETE by 0.7% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 20,547 shares of the utilities provider’s stock valued at $1,473,000 after purchasing an additional 148 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of ALLETE by 8.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,802 shares of the utilities provider’s stock valued at $129,000 after purchasing an additional 141 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of ALLETE by 8.0% during the 2nd quarter. Swiss National Bank now owns 83,400 shares of the utilities provider’s stock valued at $5,978,000 after acquiring an additional 6,200 shares in the last quarter. Hedge funds and other institutional investors own 73.20% of the company’s stock.

Shares of ALLETE Inc (NYSE:ALE) opened at $73.00 on Friday. ALLETE Inc has a 52-week low of $62.04 and a 52-week high of $81.24. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $3,730.00, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 2.90 and a beta of 0.47.

Several equities research analysts recently issued reports on the company. Ladenburg Thalmann Financial Services lowered 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. 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. JPMorgan Chase & Co. upped their price target on ALLETE from $66.00 to $73.00 and gave the company an “underweight” rating in a research report on Thursday, October 12th. 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. Finally, ValuEngine lowered ALLETE from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $80.25.

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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.

Institutional Ownership by Quarter for ALLETE (NYSE:ALE)

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