BNP Paribas Financial Markets Has $954,000 Stake in ALLETE, Inc. (NYSE:ALE)

BNP Paribas Financial Markets decreased its position in ALLETE, Inc. (NYSE:ALE - Free Report) by 24.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,726 shares of the utilities provider's stock after selling 4,744 shares during the period. BNP Paribas Financial Markets' holdings in ALLETE were worth $954,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ALE. Highbridge Capital Management LLC bought a new position in shares of ALLETE in the fourth quarter valued at approximately $54,592,000. AQR Arbitrage LLC boosted its holdings in shares of ALLETE by 30.4% in the fourth quarter. AQR Arbitrage LLC now owns 847,472 shares of the utilities provider's stock valued at $54,781,000 after acquiring an additional 197,340 shares in the last quarter. Kapitalo Investimentos Ltda bought a new position in shares of ALLETE in the fourth quarter valued at approximately $8,741,000. Absolute Gestao de Investimentos Ltda. boosted its holdings in shares of ALLETE by 76.3% in the fourth quarter. Absolute Gestao de Investimentos Ltda. now owns 254,175 shares of the utilities provider's stock valued at $16,471,000 after acquiring an additional 110,000 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of ALLETE by 14.1% in the fourth quarter. Northern Trust Corp now owns 758,828 shares of the utilities provider's stock valued at $49,172,000 after acquiring an additional 93,810 shares in the last quarter. 76.55% of the stock is currently owned by institutional investors.

ALLETE Price Performance

Shares of ALLETE stock traded up $0.03 on Monday, hitting $64.98. The company had a trading volume of 293,555 shares, compared to its average volume of 342,091. The business has a 50-day simple moving average of $65.21 and a 200-day simple moving average of $65.17. 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 market cap of $3.77 billion, a PE ratio of 20.96 and a beta of 0.82. ALLETE, Inc. has a 52 week low of $61.51 and a 52 week high of $65.99.

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

ALLETE Announces Dividend

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

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.