9,471 Shares in Allete, Inc. (NYSE:ALE) Bought by SG Americas Securities LLC

SG Americas Securities LLC acquired a new stake in Allete, Inc. (NYSE:ALE - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 9,471 shares of the utilities provider's stock, valued at approximately $622,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. UMB Bank n.a. increased its position in Allete by 78.0% in the first quarter. UMB Bank n.a. now owns 534 shares of the utilities provider's stock worth $35,000 after purchasing an additional 234 shares during the period. Jones Financial Companies Lllp grew its position 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 worth $47,000 after buying an additional 172 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Allete during the fourth quarter worth approximately $72,000. Headlands Technologies LLC bought a new stake in shares of Allete during the fourth quarter worth approximately $73,000. Finally, Versant Capital Management Inc lifted its holdings in Allete by 309.4% in the first quarter. Versant Capital Management Inc now owns 1,175 shares of the utilities provider's stock valued at $77,000 after buying an additional 888 shares during the period. 76.55% of the stock is owned by institutional investors and hedge funds.

Allete Trading Down 0.4%

ALE stock traded down $0.23 during midday trading on Wednesday, reaching $63.64. The company's stock had a trading volume of 409,581 shares, compared to its average volume of 338,827. The business's 50-day simple moving average is $65.04 and its 200-day simple moving average is $65.18. The company has a quick ratio of 0.81, a current ratio of 1.26 and a debt-to-equity ratio of 0.54. Allete, Inc. has a 52 week low of $61.51 and a 52 week high of $66.40. The stock has a market cap of $3.69 billion, a PE ratio of 19.95 and a beta of 0.80.

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 (EPS) for the quarter, hitting the consensus estimate of $1.01. The business had revenue of $400.20 million for the quarter, compared to analyst estimates of $456.30 million. Allete had a return on equity of 6.05% and a net margin of 12.10%. The firm's revenue was down .8% on a year-over-year basis. During the same period last year, the company earned $0.90 EPS.

Allete Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th were issued a $0.73 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $2.92 annualized dividend and a dividend yield of 4.59%. Allete's dividend payout ratio (DPR) is currently 91.54%.

Allete Company 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.