ALLETE, Inc. (NYSE:ALE) Shares Purchased by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. increased its position in shares of ALLETE, Inc. (NYSE:ALE - Free Report) by 627.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 165,730 shares of the utilities provider's stock after buying an additional 142,957 shares during the period. Balyasny Asset Management L.P. owned about 0.29% of ALLETE worth $10,739,000 at the end of the most recent quarter.

Other institutional investors 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 fourth quarter. Jones Financial Companies Lllp now owns 729 shares of the utilities provider's stock valued at $47,000 after purchasing an additional 172 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of ALLETE by 32.9% in 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 last quarter. Headlands Technologies LLC purchased a new position in shares of ALLETE in the fourth quarter worth about $73,000. Covestor Ltd raised its stake in shares of ALLETE by 38.0% in 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 last quarter. Finally, KBC Group NV raised its stake in shares of ALLETE by 61.7% in the fourth quarter. KBC Group NV now owns 2,431 shares of the utilities provider's stock worth $158,000 after purchasing an additional 928 shares during the last quarter. Hedge funds and other institutional investors own 76.55% of the company's stock.

ALLETE Stock Performance

Shares of NYSE:ALE traded up $0.03 during trading on Wednesday, hitting $65.73. The stock had a trading volume of 137,840 shares, compared to its average volume of 347,194. ALLETE, Inc. has a 12-month low of $61.51 and a 12-month high of $66.22. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of 21.20 and a beta of 0.82. The company has a quick ratio of 0.69, a current ratio of 1.08 and a debt-to-equity ratio of 0.50. The stock has a 50-day simple moving average of $65.26 and a two-hundred day simple moving average of $65.12.

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

ALLETE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be issued a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 4.44%. The ex-dividend date is Thursday, May 15th. ALLETE's dividend payout ratio (DPR) is 91.54%.

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.