Squarepoint Ops LLC Reduces Holdings in ALLETE, Inc. (NYSE:ALE)

Squarepoint Ops LLC reduced its stake in ALLETE, Inc. (NYSE:ALE - Free Report) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 398,639 shares of the utilities provider's stock after selling 4,915 shares during the period. Squarepoint Ops LLC owned approximately 0.69% of ALLETE worth $25,832,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in shares of ALLETE by 16.5% during the fourth quarter. JPMorgan Chase & Co. now owns 352,124 shares of the utilities provider's stock worth $22,818,000 after buying an additional 49,993 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in ALLETE during the 4th quarter worth approximately $380,000. HighTower Advisors LLC increased its position in shares of ALLETE by 15.7% in the 4th quarter. HighTower Advisors LLC now owns 6,311 shares of the utilities provider's stock valued at $409,000 after purchasing an additional 855 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of ALLETE by 65.4% in the 4th quarter. Bank of America Corp DE now owns 210,466 shares of the utilities provider's stock valued at $13,638,000 after purchasing an additional 83,233 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of ALLETE by 53.1% in the 4th quarter. Deutsche Bank AG now owns 47,553 shares of the utilities provider's stock valued at $3,081,000 after purchasing an additional 16,500 shares in the last quarter. 76.55% of the stock is currently owned by hedge funds and other institutional investors.

ALLETE Stock Up 0.0%

ALE traded up $0.03 on Monday, reaching $64.98. The company's stock had a trading volume of 293,555 shares, compared to its average volume of 342,091. ALLETE, Inc. has a fifty-two week low of $61.51 and a fifty-two week high of $65.99. The company has a market capitalization of $3.77 billion, a price-to-earnings ratio of 20.96 and a beta of 0.82. 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 stock has a 50 day moving average of $65.22 and a two-hundred day moving average of $65.17.

ALLETE (NYSE:ALE - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The utilities provider reported $1.01 EPS for the quarter, meeting the consensus estimate of $1.01. The firm had revenue of $400.20 million during the quarter, compared to the consensus estimate of $456.30 million. ALLETE had a return on equity of 5.97% and a net margin of 11.72%. The firm's revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.90 EPS.

ALLETE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be issued a $0.73 dividend. The ex-dividend date is Thursday, May 15th. This represents a $2.92 annualized dividend and a dividend yield of 4.49%. ALLETE's dividend payout ratio is currently 91.54%.

About ALLETE

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.