Keeley Teton Advisors LLC Sells 16,211 Shares of Allete, Inc. $ALE

Key Points

• Keeley Teton Advisors LLC reduced its stake in Allete, Inc. by 25.6%, owning 47,020 shares, valued at approximately $3.09 million as of the end of the first quarter.
• Allete reported earnings of $0.61 per share for the last quarter, missing analyst expectations of $0.85, with a revenue of $360.30 million compared to estimated $425.30 million.
• The company declared a quarterly dividend of $0.73 per share, translating to an annual yield of 4.5%, with a payout ratio of 92.11%.

Keeley Teton Advisors LLC reduced its stake in shares of Allete, Inc. (NYSE:ALE - Free Report) by 25.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,020 shares of the utilities provider's stock after selling 16,211 shares during the quarter. Keeley Teton Advisors LLC owned about 0.08% of Allete worth $3,089,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Envestnet Asset Management Inc. lifted its holdings in shares of Allete by 7.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 28,917 shares of the utilities provider's stock worth $1,874,000 after acquiring an additional 1,902 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Allete in the fourth quarter worth about $3,522,000. Mariner LLC boosted its position in shares of Allete by 28.2% during the fourth quarter. Mariner LLC now owns 12,256 shares of the utilities provider's stock valued at $794,000 after buying an additional 2,697 shares during the period. Dark Forest Capital Management LP purchased a new position in shares of Allete during the fourth quarter valued at approximately $280,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Allete by 11.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 41,132 shares of the utilities provider's stock valued at $2,666,000 after buying an additional 4,069 shares during the last quarter. 76.55% of the stock is owned by institutional investors.

Allete Trading Down 0.3%

Shares of NYSE ALE traded down $0.18 during midday trading on Thursday, hitting $64.15. The company's stock had a trading volume of 787,917 shares, compared to its average volume of 566,597. The business's 50 day moving average is $65.18 and its two-hundred day moving average is $65.22. Allete, Inc. has a 12-month low of $63.00 and a 12-month high of $66.46. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 0.57. The firm has a market cap of $3.72 billion, a P/E ratio of 20.24 and a beta of 0.77.

Allete (NYSE:ALE - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.61 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.24). Allete had a net margin of 11.98% and a return on equity of 5.71%. The business had revenue of $360.30 million during the quarter, compared to the consensus estimate of $425.30 million. During the same period last year, the company earned $0.82 EPS. The business's revenue was up 1.6% compared to the same quarter last year.

Allete Dividend Announcement

The business 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 4.6%. Allete's dividend payout ratio (DPR) is presently 92.11%.

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.