Citadel Advisors LLC Cuts Holdings in ALLETE, Inc. (NYSE:ALE)

Citadel Advisors LLC reduced its holdings in ALLETE, Inc. (NYSE:ALE - Free Report) by 61.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,589 shares of the utilities provider's stock after selling 7,439 shares during the quarter. Citadel Advisors LLC's holdings in ALLETE were worth $297,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its position in shares of ALLETE by 30.9% during the fourth quarter. Jones Financial Companies Lllp now owns 729 shares of the utilities provider's stock valued at $47,000 after purchasing an additional 172 shares in the last quarter. Headlands Technologies LLC purchased a new position in ALLETE during the fourth quarter valued at $73,000. Covestor Ltd lifted its position in ALLETE by 38.0% during the fourth quarter. Covestor Ltd now owns 2,410 shares of the utilities provider's stock valued at $156,000 after buying an additional 663 shares during the period. KBC Group NV boosted its holdings in shares of ALLETE by 61.7% during the 4th quarter. KBC Group NV now owns 2,431 shares of the utilities provider's stock valued at $158,000 after buying an additional 928 shares in the last quarter. Finally, Alerus Financial NA purchased a new stake in shares of ALLETE in the 4th quarter worth about $202,000. 76.55% of the stock is owned by hedge funds and other institutional investors.

ALLETE Stock Up 0.2%

Shares of ALLETE stock traded up $0.10 during trading on Friday, hitting $65.25. The company's stock had a trading volume of 275,838 shares, compared to its average volume of 338,601. ALLETE, Inc. has a 52 week low of $61.51 and a 52 week high of $65.99. The company has a market capitalization of $3.78 billion, a PE ratio of 21.05 and a beta of 0.80. The company has a fifty day simple moving average of $65.13 and a two-hundred day simple moving average of $65.20. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.69 and a current ratio of 1.08.

ALLETE (NYSE:ALE - Get Free Report) last announced its earnings results 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 net margin of 11.72% and a return on equity of 5.97%. The business had revenue of $400.20 million during the quarter, compared to the consensus estimate of $456.30 million. During the same quarter last year, the firm earned $0.90 earnings per share. The business's revenue for the quarter was down .8% on a year-over-year basis.

ALLETE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Thursday, May 15th were given 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.