Allete, Inc. (ALE) Position Maintained by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado maintained its stake in Allete, Inc. (NYSE:ALE) during the second quarter, Holdings Channel reports. The institutional investor owned 12,183 shares of the utilities provider’s stock at the end of the second quarter. Public Employees Retirement Association of Colorado’s holdings in Allete were worth $873,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ALE. Amalgamated Bank increased its stake in Allete by 0.8% in the first quarter. Amalgamated Bank now owns 6,318 shares of the utilities provider’s stock worth $428,000 after buying an additional 49 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its stake in Allete by 0.5% in the first quarter. Municipal Employees Retirement System of Michigan now owns 11,270 shares of the utilities provider’s stock worth $763,000 after buying an additional 60 shares in the last quarter. World Asset Management Inc increased its stake in Allete by 2.7% in the first quarter. World Asset Management Inc now owns 3,203 shares of the utilities provider’s stock worth $217,000 after buying an additional 84 shares in the last quarter. LS Investment Advisors LLC increased its stake in Allete by 5.6% in the second quarter. LS Investment Advisors LLC now owns 1,890 shares of the utilities provider’s stock worth $135,000 after buying an additional 100 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its stake in Allete by 0.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 20,399 shares of the utilities provider’s stock worth $1,381,000 after buying an additional 130 shares in the last quarter. Institutional investors own 73.28% of the company’s stock.

Shares of Allete, Inc. (NYSE:ALE) opened at 74.73 on Thursday. Allete, Inc. has a 12 month low of $56.48 and a 12 month high of $75.17. The firm’s 50-day moving average price is $72.47 and its 200-day moving average price is $69.89. The stock has a market capitalization of $3.81 billion, a P/E ratio of 21.99 and a beta of 0.48.

Allete (NYSE:ALE) last released its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.17. The firm had revenue of $353.30 million for the quarter, compared to analyst estimates of $342.50 million. Allete had a net margin of 12.09% and a return on equity of 9.21%. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.50 EPS. On average, equities research analysts forecast that Allete, Inc. will post $3.38 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be given a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Friday, August 11th. Allete’s payout ratio is presently 63.13%.

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A number of research firms recently commented on ALE. Zacks Investment Research upgraded Allete from a “sell” rating to a “hold” rating in a research report on Monday. Ladenburg Thalmann Financial Services boosted their target price on Allete from $71.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, June 9th. BidaskClub downgraded Allete from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Williams Capital boosted their target price on Allete from $75.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, June 19th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $75.38.

In other news, Director Madeleine W. Ludlow sold 2,500 shares of Allete stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $74.83, for a total transaction of $187,075.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.42% of the stock is currently owned by insiders.

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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