ALLETE, Inc. (NYSE:ALE) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lessened its holdings in ALLETE, Inc. (NYSE:ALE - Free Report) by 6.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 196,947 shares of the utilities provider's stock after selling 12,585 shares during the period. Rhumbline Advisers owned about 0.34% of ALLETE worth $12,939,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ALE. Highbridge Capital Management LLC purchased a new position in shares of ALLETE in the 4th quarter valued at $54,592,000. Fort Baker Capital Management LP purchased a new stake in ALLETE during the 4th quarter worth $17,301,000. AQR Arbitrage LLC increased its stake in ALLETE by 30.4% during the 4th quarter. AQR Arbitrage LLC now owns 847,472 shares of the utilities provider's stock worth $54,781,000 after buying an additional 197,340 shares during the period. Balyasny Asset Management L.P. increased its stake in ALLETE by 627.7% during the 4th quarter. Balyasny Asset Management L.P. now owns 165,730 shares of the utilities provider's stock worth $10,739,000 after buying an additional 142,957 shares during the period. Finally, Kapitalo Investimentos Ltda purchased a new stake in ALLETE during the 4th quarter worth $8,741,000. Hedge funds and other institutional investors own 76.55% of the company's stock.

ALLETE Stock Down 0.2%

ALLETE stock traded down $0.15 during midday trading on Wednesday, hitting $65.16. 271,476 shares of the stock were exchanged, compared to its average volume of 336,364. ALLETE, Inc. has a 1 year low of $61.51 and a 1 year high of $65.99. The firm has a market cap of $3.78 billion, a P/E ratio of 21.02 and a beta of 0.80. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.08 and a quick ratio of 0.69. The company has a 50 day moving average price of $65.13 and a two-hundred day moving average price of $65.21.

ALLETE (NYSE:ALE - Get Free Report) last released 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. ALLETE had a net margin of 11.72% and a return on equity of 5.97%. The firm had revenue of $400.20 million for the quarter, compared to the consensus estimate of $456.30 million. During the same quarter in the previous year, the firm posted $0.90 EPS. The firm's quarterly revenue was down .8% on a year-over-year basis.

ALLETE Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Thursday, May 15th were paid a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 4.48%. The ex-dividend date of this dividend was Thursday, May 15th. ALLETE's dividend payout ratio (DPR) is 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.