AQR Arbitrage LLC Has $54.78 Million Stock Holdings in ALLETE, Inc. (NYSE:ALE)

AQR Arbitrage LLC raised its position in ALLETE, Inc. (NYSE:ALE - Free Report) by 30.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 847,472 shares of the utilities provider's stock after acquiring an additional 197,340 shares during the period. ALLETE comprises approximately 1.2% of AQR Arbitrage LLC's holdings, making the stock its 15th largest holding. AQR Arbitrage LLC owned 1.47% of ALLETE worth $54,781,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp grew its holdings in shares of ALLETE by 30.9% in the 4th quarter. Jones Financial Companies Lllp now owns 729 shares of the utilities provider's stock worth $47,000 after purchasing an additional 172 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of ALLETE by 32.9% in 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 in the last quarter. Headlands Technologies LLC bought a new stake in ALLETE during the 4th quarter worth approximately $73,000. Covestor Ltd raised its position in ALLETE by 38.0% in the 4th 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 last quarter. Finally, KBC Group NV grew its holdings in shares of ALLETE by 61.7% during 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. Institutional investors and hedge funds own 76.55% of the company's stock.

ALLETE Trading Up 0.2 %

ALE stock traded up $0.11 during trading on Tuesday, hitting $65.60. The company had a trading volume of 58,419 shares, compared to its average volume of 362,074. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of 21.16 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 firm has a 50-day moving average price of $65.25 and a 200-day moving average price of $65.07. ALLETE, Inc. has a 12 month low of $61.51 and a 12 month high of $65.99.

ALLETE (NYSE:ALE - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.87 EPS for the quarter, missing analysts' consensus estimates of $1.02 by ($0.15). ALLETE had a return on equity of 5.97% and a net margin of 11.72%.

ALLETE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors 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 dividend on an annualized basis and a dividend yield of 4.45%. ALLETE's dividend payout ratio (DPR) is presently 94.19%.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of ALLETE in a research report on Friday, January 10th. They set a "hold" rating on the stock.

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.