Harbor Capital Advisors Inc. Has $2.79 Million Holdings in ALLETE, Inc. (NYSE:ALE)

Harbor Capital Advisors Inc. raised its position in ALLETE, Inc. (NYSE:ALE - Free Report) by 21,453.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,460 shares of the utilities provider's stock after acquiring an additional 42,263 shares during the period. Harbor Capital Advisors Inc. owned about 0.07% of ALLETE worth $2,790,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. UMB Bank n.a. raised its stake in shares of ALLETE by 78.0% in the first quarter. UMB Bank n.a. now owns 534 shares of the utilities provider's stock valued at $35,000 after purchasing an additional 234 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in ALLETE by 30.9% during the fourth quarter. Jones Financial Companies Lllp now owns 729 shares of the utilities provider's stock worth $47,000 after buying an additional 172 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in 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, Versant Capital Management Inc raised its stake in shares of ALLETE by 309.4% in the 1st 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 in the last quarter. Institutional investors own 76.55% of the company's stock.

ALLETE Price Performance

Shares of ALLETE stock traded down $0.01 during trading on Thursday, hitting $65.14. 317,621 shares of the company's stock traded hands, compared to its average volume of 335,849. The company has a market cap of $3.78 billion, a PE ratio of 21.01 and a beta of 0.80. The firm's fifty day moving average price is $65.13 and its 200 day moving average price is $65.21. ALLETE, Inc. has a twelve month low of $61.51 and a twelve month high of $65.99. 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 (NYSE:ALE - Get Free Report) last released its quarterly earnings data 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 return on equity of 5.97% and a net margin of 11.72%. The company had revenue of $400.20 million for the quarter, compared to the consensus estimate of $456.30 million. During the same period in the previous year, the business earned $0.90 earnings per share. The company's quarterly revenue was down .8% on a year-over-year basis.

ALLETE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th were paid a dividend of $0.73 per share. The ex-dividend date was Thursday, May 15th. This represents a $2.92 annualized dividend and a yield of 4.48%. ALLETE's dividend payout ratio 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.