Balyasny Asset Management L.P. Acquires 142,957 Shares of ALLETE, Inc. (NYSE:ALE)

Balyasny Asset Management L.P. lifted its position in shares of ALLETE, Inc. (NYSE:ALE - Free Report) by 627.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 165,730 shares of the utilities provider's stock after acquiring an additional 142,957 shares during the quarter. Balyasny Asset Management L.P. owned approximately 0.29% of ALLETE worth $10,739,000 at the end of the most recent reporting period.

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

ALLETE Trading Up 0.2%

Shares of ALLETE stock traded up $0.13 during trading on Tuesday, hitting $65.71. 286,281 shares of the company were exchanged, compared to its average volume of 348,187. ALLETE, Inc. has a 1-year low of $61.51 and a 1-year high of $66.29. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.08 and a quick ratio of 0.69. The firm has a market capitalization of $3.81 billion, a P/E ratio of 21.20 and a beta of 0.82. The firm's fifty day moving average price is $65.25 and its 200 day moving average price is $65.11.

ALLETE (NYSE:ALE - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The utilities provider reported $1.01 earnings per share for the quarter, meeting the consensus estimate of $1.01. ALLETE had a net margin of 11.72% and a return on equity of 5.97%. The company had revenue of $400.20 million during the quarter, compared to analysts' expectations of $456.30 million. During the same quarter in the prior year, the company earned $0.90 earnings per share. The business'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. 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 4.44%. The ex-dividend date of this dividend is Thursday, May 15th. ALLETE's dividend payout ratio is presently 91.54%.

ALLETE Company 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.