Deutsche Bank AG Acquires 16,500 Shares of ALLETE, Inc. (NYSE:ALE)

Deutsche Bank AG grew its stake in ALLETE, Inc. (NYSE:ALE - Free Report) by 53.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,553 shares of the utilities provider's stock after purchasing an additional 16,500 shares during the period. Deutsche Bank AG owned approximately 0.08% of ALLETE worth $3,081,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Jones Financial Companies Lllp grew its holdings in ALLETE by 30.9% during the 4th 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 during the last quarter. Fifth Third Bancorp boosted its position in shares of ALLETE by 32.9% during the fourth quarter. Fifth Third Bancorp now owns 876 shares of the utilities provider's stock valued at $57,000 after buying an additional 217 shares during the period. Headlands Technologies LLC bought a new position in shares of ALLETE during the fourth quarter valued at approximately $73,000. Covestor Ltd raised its holdings in shares of ALLETE by 38.0% in the fourth quarter. Covestor Ltd now owns 2,410 shares of the utilities provider's stock worth $156,000 after buying an additional 663 shares during the period. Finally, KBC Group NV raised its holdings in shares of ALLETE by 61.7% in the fourth quarter. KBC Group NV now owns 2,431 shares of the utilities provider's stock worth $158,000 after buying an additional 928 shares during the period. Hedge funds and other institutional investors own 76.55% of the company's stock.

ALLETE Trading Up 0.0%

ALE traded up $0.03 during trading hours on Monday, reaching $64.98. 293,555 shares of the company's stock traded hands, compared to its average volume of 342,091. The firm has a 50-day moving average price of $65.21 and a 200 day moving average price of $65.17. The firm has a market capitalization of $3.77 billion, a PE 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. 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 issued its earnings results on Thursday, May 8th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.01. The firm had revenue of $400.20 million during the quarter, compared to analyst estimates 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 in the previous year, the firm earned $0.90 earnings per share.

ALLETE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th will be paid a $0.73 dividend. The ex-dividend date is Thursday, May 15th. This represents a $2.92 dividend on an annualized basis and a 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.