Dimensional Fund Advisors LP Reduces Holdings in ALLETE, Inc. (NYSE:ALE)

Dimensional Fund Advisors LP trimmed its holdings in ALLETE, Inc. (NYSE:ALE - Free Report) by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 951,057 shares of the utilities provider's stock after selling 7,005 shares during the quarter. Dimensional Fund Advisors LP owned about 1.64% of ALLETE worth $61,628,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC raised its stake in shares of ALLETE by 187.1% in 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 last quarter. Wilmington Savings Fund Society FSB purchased a new stake in ALLETE in the 3rd quarter worth about $282,000. Franklin Resources Inc. lifted its stake in shares of ALLETE by 9.8% during the 3rd quarter. Franklin Resources Inc. now owns 65,056 shares of the utilities provider's stock valued at $4,190,000 after buying an additional 5,799 shares in the last quarter. CWA Asset Management Group LLC boosted its holdings in shares of ALLETE by 13.5% in the fourth quarter. CWA Asset Management Group LLC now owns 19,613 shares of the utilities provider's stock worth $1,271,000 after acquiring an additional 2,339 shares during the period. Finally, Hennion & Walsh Asset Management Inc. increased its position in shares of ALLETE by 6.7% during 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. 76.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

ALLETE Stock Up 0.0 %

Shares of NYSE ALE traded up $0.01 during midday trading on Wednesday, hitting $65.50. The stock had a trading volume of 288,061 shares, compared to its average volume of 357,801. ALLETE, Inc. has a 52 week low of $61.51 and a 52 week high of $65.99. The company has a market cap of $3.80 billion, a P/E ratio of 21.13 and a beta of 0.82. The business's 50 day moving average is $65.25 and its 200-day moving average is $65.08. The company has a quick ratio of 0.69, a current ratio of 1.08 and a debt-to-equity ratio of 0.50.

ALLETE (NYSE:ALE - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.87 earnings per share (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 firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th will be given 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 4.46%. ALLETE's dividend payout ratio (DPR) is presently 94.19%.

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.