Algert Global LLC Cuts Holdings in ALLETE, Inc. (NYSE:ALE)

Algert Global LLC lessened its stake in shares of ALLETE, Inc. (NYSE:ALE - Free Report) by 45.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 38,510 shares of the utilities provider's stock after selling 32,508 shares during the quarter. Algert Global LLC owned approximately 0.07% of ALLETE worth $2,495,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its position in ALLETE by 30.9% during the 4th quarter. Jones Financial Companies Lllp now owns 729 shares of the utilities provider's stock valued at $47,000 after buying an additional 172 shares during the period. Fifth Third Bancorp boosted its holdings in shares of ALLETE by 32.9% during the fourth quarter. Fifth Third Bancorp now owns 876 shares of the utilities provider's stock worth $57,000 after purchasing an additional 217 shares during the period. Headlands Technologies LLC bought a new stake in shares of ALLETE in the fourth quarter worth about $73,000. Covestor Ltd increased its holdings in ALLETE by 38.0% during the 4th quarter. Covestor Ltd now owns 2,410 shares of the utilities provider's stock valued at $156,000 after purchasing an additional 663 shares during the period. Finally, KBC Group NV increased its holdings in ALLETE by 61.7% during the 4th quarter. KBC Group NV now owns 2,431 shares of the utilities provider's stock valued at $158,000 after purchasing an additional 928 shares during the period. Institutional investors own 76.55% of the company's stock.

ALLETE Trading Down 0.1 %

NYSE ALE traded down $0.07 on Friday, hitting $65.42. The company's stock had a trading volume of 255,520 shares, compared to its average volume of 348,238. 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, Inc. has a 52-week low of $61.51 and a 52-week high of $65.99. The firm has a market cap of $3.79 billion, a P/E ratio of 21.10 and a beta of 0.82. The company's 50-day simple moving average is $65.25 and its 200 day simple moving average is $65.10.

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

ALLETE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders 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 4.46%. The ex-dividend date is Thursday, May 15th. ALLETE's dividend payout ratio is currently 91.54%.

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.