Vermillion Wealth Management Inc. Takes $404,000 Position in ALLETE, Inc. (NYSE:ALE)

Vermillion Wealth Management Inc. acquired a new stake in shares of ALLETE, Inc. (NYSE:ALE - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 6,238 shares of the utilities provider's stock, valued at approximately $404,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jones Financial Companies Lllp lifted its stake 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 valued at $47,000 after purchasing an additional 172 shares during the period. Fifth Third Bancorp lifted its stake in shares of ALLETE by 32.9% in the 4th 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. Public Employees Retirement System of Ohio acquired a new position in shares of ALLETE in the 4th quarter valued at $72,000. Headlands Technologies LLC acquired a new position in shares of ALLETE in the 4th quarter valued at $73,000. Finally, Lazard Asset Management LLC lifted its stake in shares of ALLETE by 13.6% in the 4th quarter. Lazard Asset Management LLC now owns 1,371 shares of the utilities provider's stock valued at $88,000 after purchasing an additional 164 shares during the period. 76.55% of the stock is currently owned by institutional investors and hedge funds.

ALLETE Price Performance

NYSE ALE traded up $0.05 on Friday, hitting $64.98. The company had a trading volume of 130,380 shares, compared to its average volume of 339,922. The company has a market capitalization of $3.77 billion, a PE ratio of 20.96 and a beta of 0.82. The company's fifty day moving average price is $65.17 and its 200-day moving average price is $65.17. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.08 and a quick ratio of 0.69. 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 released 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 net margin of 11.72% and a return on equity of 5.97%. The business had revenue of $400.20 million during the quarter, compared to analyst estimates of $456.30 million. During the same quarter in the prior year, the firm 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 firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date is Thursday, May 15th. ALLETE's payout ratio is 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.