Eisler Capital Management Ltd. Takes $3.29 Million Position in Allete, Inc. $ALE

Key Points

• Eisler Capital Management Ltd. has acquired a new stake of approximately $3.29 million in Allete, Inc., purchasing 50,023 shares during the first quarter.
• Allete recently reported a miss in earnings per share, posting $0.61 for the quarter compared to the consensus estimate of $0.85, while revenue increased by 1.6% year-over-year.
• The company declared a quarterly dividend of $0.73 per share, resulting in an annualized yield of 4.5% with a high payout ratio of 92.11%.

Eisler Capital Management Ltd. bought a new position in Allete, Inc. (NYSE:ALE - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 50,023 shares of the utilities provider's stock, valued at approximately $3,285,000. Eisler Capital Management Ltd. owned 0.09% of Allete at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALE. UMB Bank n.a. lifted its position in Allete by 78.0% in the first quarter. UMB Bank n.a. now owns 534 shares of the utilities provider's stock worth $35,000 after purchasing an additional 234 shares during the period. Costello Asset Management INC bought a new position in Allete in the first quarter worth $35,000. Hexagon Capital Partners LLC lifted its position in Allete by 44.5% in the first quarter. Hexagon Capital Partners LLC now owns 591 shares of the utilities provider's stock worth $39,000 after purchasing an additional 182 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Allete during the first quarter valued at $47,000. Finally, Cherry Tree Wealth Management LLC bought a new position in shares of Allete during the first quarter valued at $49,000. 76.55% of the stock is owned by institutional investors.

Allete Price Performance

Shares of NYSE ALE traded down $0.11 during midday trading on Tuesday, reaching $64.04. 108,039 shares of the company traded hands, compared to its average volume of 431,481. The firm has a market cap of $3.72 billion, a PE ratio of 20.21 and a beta of 0.84. The stock's 50-day simple moving average is $65.20 and its 200-day simple moving average is $65.19. Allete, Inc. has a 12 month low of $63.25 and a 12 month high of $66.46. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.81 and a current ratio of 1.34.

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). The company had revenue of $360.30 million for the quarter, compared to the consensus estimate of $425.30 million. Allete had a net margin of 11.98% and a return on equity of 5.71%. The firm's revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.82 earnings per share.

Allete Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 15th were paid a $0.73 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 4.6%. Allete's dividend payout ratio (DPR) is 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.