Aequim Alternative Investments LP Makes New Investment in ALLETE, Inc. (NYSE:ALE)

Aequim Alternative Investments LP purchased a new stake in shares of ALLETE, Inc. (NYSE:ALE - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 26,476 shares of the utilities provider's stock, valued at approximately $1,716,000.

Several other institutional investors have also recently bought and sold shares of the business. JPMorgan Chase & Co. grew its holdings in ALLETE by 16.5% during the 4th quarter. JPMorgan Chase & Co. now owns 352,124 shares of the utilities provider's stock worth $22,818,000 after acquiring an additional 49,993 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of ALLETE in the fourth quarter valued at approximately $380,000. HighTower Advisors LLC raised its position in ALLETE by 15.7% in the 4th quarter. HighTower Advisors LLC now owns 6,311 shares of the utilities provider's stock worth $409,000 after purchasing an additional 855 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in ALLETE by 6.9% during the 4th quarter. MetLife Investment Management LLC now owns 66,592 shares of the utilities provider's stock worth $4,315,000 after buying an additional 4,284 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. acquired a new stake in shares of ALLETE in the 4th quarter valued at $5,378,000. Institutional investors own 76.55% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on ALLETE in a report on Friday, January 10th. They issued a "hold" rating on the stock.

ALLETE Trading Down 0.2 %

Shares of NYSE:ALE traded down $0.16 during mid-day trading on Thursday, reaching $65.51. The stock had a trading volume of 83,098 shares, compared to its average volume of 356,728. The firm has a 50 day simple moving average of $65.25 and a two-hundred day simple moving average of $65.08. ALLETE, Inc. has a twelve month low of $61.51 and a twelve month high of $65.99. The firm has a market cap of $3.80 billion, a PE ratio of 21.13 and a beta of 0.82. The company has a current ratio of 1.08, a quick ratio of 0.69 and a debt-to-equity ratio of 0.50.

ALLETE (NYSE:ALE - Get Free Report) last posted its earnings results on Thursday, May 8th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.01. ALLETE had a return on equity of 5.97% and a net margin of 11.72%. The business had revenue of $400.20 million during the quarter, compared to analysts' expectations of $456.30 million. During the same period in the prior year, the business earned $0.90 EPS. ALLETE's revenue for the quarter was down .8% compared to the same quarter last year.

ALLETE Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date is Thursday, May 15th. ALLETE's dividend payout ratio (DPR) is currently 94.19%.

About ALLETE

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.