Sagefield Capital LP increased its position in ALLETE, Inc. (NYSE:ALE - Free Report) by 100.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 36,388 shares of the utilities provider's stock after purchasing an additional 18,277 shares during the period. Sagefield Capital LP owned 0.06% of ALLETE worth $2,358,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of ALE. Vanguard Group Inc. boosted its position in shares of ALLETE by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 6,365,190 shares of the utilities provider's stock worth $412,464,000 after buying an additional 20,624 shares during the period. AQR Arbitrage LLC raised its holdings in ALLETE by 30.4% during the fourth quarter. AQR Arbitrage LLC now owns 847,472 shares of the utilities provider's stock worth $54,781,000 after purchasing an additional 197,340 shares in the last quarter. Highbridge Capital Management LLC bought a new position in shares of ALLETE in the fourth quarter valued at $54,592,000. Charles Schwab Investment Management Inc. increased its holdings in shares of ALLETE by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 786,588 shares of the utilities provider's stock valued at $50,971,000 after buying an additional 20,245 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of ALLETE by 14.1% in the fourth quarter. Northern Trust Corp now owns 758,828 shares of the utilities provider's stock valued at $49,172,000 after buying an additional 93,810 shares in the last quarter. 76.55% of the stock is currently owned by institutional investors and hedge funds.
ALLETE Trading Up 0.1%
NYSE ALE opened at $65.13 on Friday. ALLETE, Inc. has a twelve month low of $61.51 and a twelve month high of $65.99. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.69 and a current ratio of 1.08. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of 21.01 and a beta of 0.82. The firm's 50 day moving average price is $65.26 and its two-hundred day moving average price is $65.13.
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, hitting analysts' consensus estimates of $1.01. The firm had revenue of $400.20 million during the quarter, compared to analysts' expectations of $456.30 million. ALLETE had a net margin of 11.72% and a return on equity of 5.97%. ALLETE's revenue for the quarter was down .8% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 earnings per share.
ALLETE Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.73 per share. The ex-dividend date is Thursday, May 15th. This represents a $2.92 annualized dividend and a dividend yield of 4.48%. ALLETE's dividend payout ratio (DPR) is currently 91.54%.
ALLETE Profile
(
Free Report)
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.
See Also
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