Two Sigma Advisers LP Sells 75,800 Shares of ALLETE, Inc. (NYSE:ALE)

Two Sigma Advisers LP lowered its stake in shares of ALLETE, Inc. (NYSE:ALE - Free Report) by 86.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,500 shares of the utilities provider's stock after selling 75,800 shares during the quarter. Two Sigma Advisers LP's holdings in ALLETE were worth $745,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Jones Financial Companies Lllp lifted its holdings 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 acquiring an additional 172 shares during the period. Fifth Third Bancorp increased its position in shares of ALLETE by 32.9% during the 4th quarter. Fifth Third Bancorp now owns 876 shares of the utilities provider's stock valued at $57,000 after purchasing an additional 217 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of ALLETE during the 4th quarter valued at $73,000. Lazard Asset Management LLC raised its stake in shares of ALLETE by 13.6% during the 4th quarter. Lazard Asset Management LLC now owns 1,371 shares of the utilities provider's stock worth $88,000 after purchasing an additional 164 shares during the period. Finally, Covestor Ltd raised its stake in shares of ALLETE by 38.0% during the 4th quarter. Covestor Ltd now owns 2,410 shares of the utilities provider's stock worth $156,000 after purchasing an additional 663 shares during the period. 76.55% of the stock is owned by hedge funds and other institutional investors.

ALLETE Stock Performance

ALE traded up $0.02 during trading on Thursday, hitting $65.20. 102,860 shares of the company traded hands, compared to its average volume of 356,786. ALLETE, Inc. has a one year low of $61.51 and a one year high of $65.99. The stock's fifty day moving average is $65.14 and its 200 day moving average is $65.18. The company has a quick ratio of 0.69, a current ratio of 1.08 and a debt-to-equity ratio of 0.50. The firm has a market cap of $3.78 billion, a P/E ratio of 21.03 and a beta of 0.82.

ALLETE (NYSE:ALE - Get Free Report) last issued 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 company had revenue of $400.20 million during the quarter, compared to analyst estimates of $456.30 million. During the same quarter last year, the business posted $0.90 EPS. ALLETE's quarterly revenue was down .8% compared to the same quarter last year.

ALLETE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Stockholders 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 dividend yield of 4.48%. ALLETE's payout ratio 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.