ALLETE, Inc. (NYSE:ALE) Shares Sold by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. trimmed its position in shares of ALLETE, Inc. (NYSE:ALE - Free Report) by 30.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 764,288 shares of the utilities provider's stock after selling 337,500 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 1.32% of ALLETE worth $49,526,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in shares of ALLETE by 11.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 41,132 shares of the utilities provider's stock worth $2,666,000 after purchasing an additional 4,069 shares in the last quarter. Dark Forest Capital Management LP bought a new stake in shares of ALLETE in the fourth quarter worth approximately $280,000. Hsbc Holdings PLC lifted its position in ALLETE by 2.4% during the fourth quarter. Hsbc Holdings PLC now owns 255,143 shares of the utilities provider's stock valued at $16,495,000 after purchasing an additional 5,948 shares during the period. MetLife Investment Management LLC grew its position in ALLETE by 6.9% in the 4th quarter. MetLife Investment Management LLC now owns 66,592 shares of the utilities provider's stock worth $4,315,000 after purchasing an additional 4,284 shares during the period. Finally, GABELLI & Co INVESTMENT ADVISERS INC. grew its holdings in shares of ALLETE by 4.3% in the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 205,500 shares of the utilities provider's stock worth $13,316,000 after acquiring an additional 8,450 shares during the period. Institutional investors own 76.55% of the company's stock.

ALLETE Trading Up 0.1 %

Shares of ALE stock traded up $0.05 on Wednesday, reaching $65.31. 101,614 shares of the company's stock were exchanged, compared to its average volume of 376,974. The company has a current ratio of 1.08, a quick ratio of 0.69 and a debt-to-equity ratio of 0.50. The company's fifty day simple moving average is $65.26 and its 200 day simple moving average is $65.04. ALLETE, Inc. has a 52 week low of $59.00 and a 52 week high of $65.99. The stock has a market capitalization of $3.79 billion, a PE ratio of 21.07 and a beta of 0.69.

ALLETE (NYSE:ALE - Get Free Report) last issued its earnings results on Tuesday, February 18th. The utilities provider reported $0.87 earnings per share for the quarter, missing analysts' consensus estimates of $1.02 by ($0.15). ALLETE had a net margin of 11.72% and a return on equity of 5.97%.

ALLETE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be given a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 4.47%. The ex-dividend date of this dividend is Thursday, May 15th. ALLETE's payout ratio is currently 94.19%.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on ALLETE in a research note on Friday, January 10th. They issued a "hold" rating for the company.

ALLETE Profile

ALLETE, Inc operates as an energy company. The company operates through Regulated Operations, ALLETE Clean Energy, and Corporate and Other segments. It generates electricity from coal-fired, biomass co-fired / natural gas, hydroelectric, wind, and solar. In addition, the company provides regulated utility electric services in northwestern Wisconsin to approximately 15,000 electric customers, 13,000 natural gas customers, and 10,000 water customers, as well as regulated utility electric services in northeastern Minnesota to approximately 150,000 retail customers and 14 non-affiliated municipal customers.