SG Americas Securities LLC Takes Position in Allete, Inc. (NYSE:ALE)

SG Americas Securities LLC acquired a new position in shares of Allete, Inc. (NYSE:ALE - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 9,471 shares of the utilities provider's stock, valued at approximately $622,000.

Several other institutional investors have also modified their holdings of the company. GAMMA Investing LLC lifted its position in shares of Allete by 15.2% during the 1st quarter. GAMMA Investing LLC now owns 1,835 shares of the utilities provider's stock worth $121,000 after purchasing an additional 242 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Allete by 21,453.3% during the 1st quarter. Harbor Capital Advisors Inc. now owns 42,460 shares of the utilities provider's stock worth $2,790,000 after purchasing an additional 42,263 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Allete by 6,155.6% during the 1st quarter. Farther Finance Advisors LLC now owns 2,815 shares of the utilities provider's stock worth $183,000 after purchasing an additional 2,770 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Allete by 78.0% during the 1st 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 last quarter. Finally, Tompkins Financial Corp purchased a new stake in Allete in the first quarter valued at $94,000. 76.55% of the stock is owned by hedge funds and other institutional investors.

Allete Stock Performance

ALE traded down $0.56 on Friday, reaching $63.46. The company had a trading volume of 984,965 shares, compared to its average volume of 339,715. Allete, Inc. has a 1 year low of $61.51 and a 1 year high of $66.40. The stock has a market capitalization of $3.68 billion, a PE ratio of 19.89 and a beta of 0.80. The company has a quick ratio of 0.81, a current ratio of 1.26 and a debt-to-equity ratio of 0.54. The stock has a 50-day moving average price of $65.08 and a 200-day moving average price of $65.19.

Allete (NYSE:ALE - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The utilities provider reported $1.01 earnings per share for the quarter, meeting analysts' consensus estimates of $1.01. Allete had a net margin of 12.10% and a return on equity of 6.05%. The firm had revenue of $400.20 million during the quarter, compared to analysts' expectations of $456.30 million. During the same period in the previous year, the company earned $0.90 earnings per share. Allete's quarterly revenue was down .8% compared to the same quarter last year.

Allete Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Thursday, May 15th were given a $0.73 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $2.92 dividend on an annualized basis and a yield of 4.60%. Allete's dividend payout ratio (DPR) is presently 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.