Millennium Management LLC Sells 20,064 Shares of ALLETE, Inc. (NYSE:ALE)

Millennium Management LLC cut its position in ALLETE, Inc. (NYSE:ALE - Free Report) by 2.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 906,041 shares of the utilities provider's stock after selling 20,064 shares during the quarter. Millennium Management LLC owned about 1.57% of ALLETE worth $58,711,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC increased its holdings in shares of ALLETE by 187.1% during the third quarter. Barclays PLC now owns 100,079 shares of the utilities provider's stock worth $6,425,000 after purchasing an additional 65,222 shares during the period. Hennion & Walsh Asset Management Inc. boosted its stake in shares of ALLETE by 6.7% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 20,197 shares of the utilities provider's stock valued at $1,309,000 after buying an additional 1,269 shares during the period. Exchange Traded Concepts LLC grew its position in ALLETE by 2.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 11,786 shares of the utilities provider's stock worth $764,000 after buying an additional 295 shares in the last quarter. Fifth Third Bancorp increased its stake in ALLETE by 32.9% during the 4th quarter. Fifth Third Bancorp now owns 876 shares of the utilities provider's stock worth $57,000 after acquiring an additional 217 shares during the period. Finally, KBC Group NV raised its holdings in ALLETE by 61.7% in the 4th quarter. KBC Group NV now owns 2,431 shares of the utilities provider's stock valued at $158,000 after acquiring an additional 928 shares in the last quarter. 76.55% of the stock is owned by institutional investors and hedge funds.

ALLETE Price Performance

Shares of NYSE:ALE traded down $0.02 during trading on Thursday, reaching $64.99. 51,136 shares of the company traded hands, compared to its average volume of 343,204. The firm has a market capitalization of $3.77 billion, a PE ratio of 20.97 and a beta of 0.82. ALLETE, Inc. has a 52 week low of $61.51 and a 52 week high of $65.99. 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 company's 50 day moving average is $65.24 and its two-hundred day moving average is $65.16.

ALLETE (NYSE:ALE - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The utilities provider reported $1.01 EPS for the quarter, meeting analysts' consensus estimates of $1.01. The business had revenue of $400.20 million during the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm earned $0.90 earnings per share.

ALLETE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date of this dividend is Thursday, May 15th. ALLETE's dividend payout ratio (DPR) is presently 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.