ALLETE (NYSE:ALE) Sets New 1-Year High - Still a Buy?

Shares of ALLETE, Inc. (NYSE:ALE - Get Free Report) hit a new 52-week high on Friday . The company traded as high as $66.40 and last traded at $64.86, with a volume of 351640 shares trading hands. The stock had previously closed at $65.17.

ALLETE Stock Performance

The business has a 50-day moving average of $65.15 and a two-hundred day moving average of $65.21. 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 company has a market cap of $3.75 billion, a P/E ratio of 20.86 and a beta of 0.80.

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

ALLETE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th were given a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 4.51%. The ex-dividend date of this dividend was Thursday, May 15th. ALLETE's dividend payout ratio (DPR) is presently 91.54%.

Institutional Trading of ALLETE

Institutional investors and hedge funds have recently made changes to their positions in the business. UMB Bank n.a. boosted its stake in ALLETE by 78.0% during the first quarter. UMB Bank n.a. now owns 534 shares of the utilities provider's stock worth $35,000 after buying an additional 234 shares during the last quarter. Costello Asset Management INC acquired a new position in ALLETE during the first quarter worth $35,000. Hexagon Capital Partners LLC boosted its stake in ALLETE by 44.5% during the first quarter. Hexagon Capital Partners LLC now owns 591 shares of the utilities provider's stock worth $39,000 after buying an additional 182 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in ALLETE by 30.9% during the fourth 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 last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in ALLETE during the first quarter worth $47,000. 76.55% of the stock is currently owned by hedge funds and other institutional investors.

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.