4,500 Shares in ALLETE, Inc. (NYSE:ALE) Purchased by Ancora Advisors LLC

Ancora Advisors LLC purchased a new position in shares of ALLETE, Inc. (NYSE:ALE - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,500 shares of the utilities provider's stock, valued at approximately $292,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jones Financial Companies Lllp raised its holdings 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 valued at $47,000 after buying an additional 172 shares during the period. Fifth Third Bancorp raised its stake in shares of ALLETE by 32.9% during the fourth quarter. Fifth Third Bancorp now owns 876 shares of the utilities provider's stock valued at $57,000 after purchasing an additional 217 shares during the period. Headlands Technologies LLC acquired a new position in shares of ALLETE during the fourth quarter worth $73,000. Covestor Ltd boosted 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 valued at $156,000 after purchasing an additional 663 shares during the period. Finally, KBC Group NV boosted 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 valued at $158,000 after purchasing an additional 928 shares during the period. Institutional investors and hedge funds own 76.55% of the company's stock.

ALLETE Stock Up 0.1%

ALLETE stock traded up $0.09 during midday trading on Monday, hitting $65.54. 86,288 shares of the stock were exchanged, compared to its average volume of 347,298. ALLETE, Inc. has a 1 year low of $61.51 and a 1 year high of $65.99. 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 cap of $3.80 billion, a P/E ratio of 21.13 and a beta of 0.82. The company has a 50 day moving average price of $65.25 and a two-hundred day moving average price of $65.10.

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

ALLETE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be paid a $0.73 dividend. The ex-dividend date is Thursday, May 15th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 4.46%. ALLETE's dividend payout ratio (DPR) is presently 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.