ALLETE, Inc. Price & Performance (ALE)

Recent filings show Gamco Investors and other hedge funds have increased their holdings in ALLETE, Inc., with institutional ownership now at 76.55%. The company’s dividend has risen to $2.92 per share, yielding over 4.5%. ALLETE’s financials remain stable, but analysts maintain a “hold” rating as the stock trades near its annual high.12

The pending private acquisition of ALLETE has sparked opposition from consumer advocates and state officials, who warn it may drive up rates for Minnesota Power customers. Experts argue that buyers paying a premium may seek to recover costs through higher utility bills, despite assurances that rates and jobs will be protected post-sale.34

ALLETE shares are trading in a narrow band near $64.75, with recent analyst forecasts suggesting little near-term movement. The company’s revenue and earnings have declined year-over-year, and technical signals point to a hold or accumulate stance, with low volatility and moderate risk for investors at current levels.56