DLD Asset Management LP Has $3.22 Million Holdings in Allete, Inc. $ALE

Key Points

• DLD Asset Management LP reduced its holdings in Allete, Inc. by 12% during the first quarter, owning 48,948 shares valued at approximately $3.22 million as of the latest reporting period.
• Allete reported a earnings per share (EPS) of $0.61 for the latest quarter, which fell short of analysts' expectations of $0.85, with revenues reaching $360.3 million compared to the consensus estimate of $425.3 million.
• The company declared a quarterly dividend of $0.73, amounting to an annualized dividend of $2.92 and a yield of 4.5%, with a payout ratio of 92.11%.

DLD Asset Management LP lessened its holdings in shares of Allete, Inc. (NYSE:ALE - Free Report) by 12.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,948 shares of the utilities provider's stock after selling 6,679 shares during the quarter. DLD Asset Management LP owned approximately 0.08% of Allete worth $3,216,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. UMB Bank n.a. increased its position in Allete by 78.0% during the first quarter. UMB Bank n.a. now owns 534 shares of the utilities provider's stock worth $35,000 after buying an additional 234 shares during the last quarter. Costello Asset Management INC bought a new stake in shares of Allete during the first quarter worth approximately $35,000. Hexagon Capital Partners LLC boosted its holdings in shares of Allete by 44.5% during the first quarter. Hexagon Capital Partners LLC now owns 591 shares of the utilities provider's stock worth $39,000 after acquiring an additional 182 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of Allete during the first quarter worth approximately $47,000. Finally, Cherry Tree Wealth Management LLC bought a new stake in shares of Allete during the first quarter worth approximately $49,000. Institutional investors and hedge funds own 76.55% of the company's stock.

Allete Trading Down 0.3%

Shares of NYSE:ALE opened at $64.6090 on Wednesday. Allete, Inc. has a 12-month low of $63.00 and a 12-month high of $66.46. The stock has a market cap of $3.75 billion, a PE ratio of 20.38 and a beta of 0.77. The business has a 50 day moving average of $65.20 and a 200-day moving average of $65.28. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 0.57.

Allete (NYSE:ALE - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.85 by ($0.24). Allete had a return on equity of 5.71% and a net margin of 11.98%.The firm had revenue of $360.30 million for the quarter, compared to the consensus estimate of $425.30 million. During the same quarter in the prior year, the firm earned $0.82 EPS. The company's revenue was up 1.6% on a year-over-year basis.

Allete Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Friday, August 15th will be given a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Friday, August 15th. Allete's payout ratio is presently 92.11%.

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.

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