Universal Beteiligungs und Servicegesellschaft mbH Acquires New Holdings in Allete, Inc. (NYSE:ALE)

Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Allete, Inc. (NYSE:ALE - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 53,340 shares of the utilities provider's stock, valued at approximately $3,504,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.09% of Allete at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ALE. Lazard Asset Management LLC raised its stake in shares of Allete by 13.6% during the fourth quarter. Lazard Asset Management LLC now owns 1,371 shares of the utilities provider's stock worth $88,000 after buying an additional 164 shares during the last quarter. Hexagon Capital Partners LLC raised its stake in shares of 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. State of Alaska Department of Revenue raised its stake in shares of Allete by 2.8% during the first quarter. State of Alaska Department of Revenue now owns 6,781 shares of the utilities provider's stock worth $445,000 after buying an additional 185 shares during the last quarter. State of Michigan Retirement System raised its stake in shares of Allete by 1.5% during the first quarter. State of Michigan Retirement System now owns 13,846 shares of the utilities provider's stock worth $910,000 after buying an additional 200 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in shares of Allete by 1.3% during the first quarter. Louisiana State Employees Retirement System now owns 16,200 shares of the utilities provider's stock worth $1,064,000 after buying an additional 200 shares during the last quarter. 76.55% of the stock is owned by institutional investors.

Allete Trading Down 0.1%

Shares of ALE traded down $0.08 on Friday, reaching $65.86. 78,735 shares of the company's stock were exchanged, compared to its average volume of 408,285. The company has a current ratio of 1.26, a quick ratio of 0.81 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $3.82 billion, a P/E ratio of 20.64 and a beta of 0.79. The business has a 50 day moving average price of $65.09 and a two-hundred day moving average price of $65.28. Allete, Inc. has a 12 month low of $63.00 and a 12 month high of $66.46.

Allete (NYSE:ALE - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The utilities provider reported $1.01 earnings per share for the quarter, hitting 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 net margin of 12.10% and a return on equity of 6.05%. Allete's revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.90 earnings per share.

Allete Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Friday, August 15th will be issued a dividend of $0.73 per share. The ex-dividend date is Friday, August 15th. This represents a $2.92 dividend on an annualized basis and a yield of 4.4%. Allete's payout ratio is currently 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.