ALLETE's subsidiary U.S. Water Services has started expanding water operations through acquisitions, in addition to organic investments. We are witnessing major acquisitions in the water utility space. American Water Works Company ( AWK - Free Report ) closed several buyouts in the first half of 2017, adding nearly 22,000 customers through acquisition and organic growth. Other pending acquisitions when closed is expected to increase the company's customer base by 34,000 in 2017. Another major player in the water utility space, Aqua America Inc., successfully concluded acquisitions as of Aug 2, 2017 adding 1,002 customers. Its other pending acquisitions, when closed over the course of the year, will add another 11,087 customers to its existing base. Price Movement In the last 12 months, shares of ALLETE have gained 36.7%, outperforming the industry 's. increase of 11.7%. The consistent performance of this utility is having a positive impact on its share prices.