ALLETE, Inc. (NYSE:ALE) Holdings Lifted by GAMMA Investing LLC

GAMMA Investing LLC increased its position in ALLETE, Inc. (NYSE:ALE - Free Report) by 7,468.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 120,560 shares of the utilities provider's stock after buying an additional 118,967 shares during the period. GAMMA Investing LLC owned about 0.21% of ALLETE worth $7,921,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in ALE. Jones Financial Companies Lllp raised its holdings in shares of 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 buying an additional 172 shares during the period. Public Employees Retirement System of Ohio bought a new position in ALLETE during the 4th quarter worth approximately $72,000. Headlands Technologies LLC acquired a new stake in shares of ALLETE during the 4th quarter valued at approximately $73,000. Versant Capital Management Inc lifted its stake in ALLETE by 309.4% during the first quarter. Versant Capital Management Inc now owns 1,175 shares of the utilities provider's stock worth $77,000 after purchasing an additional 888 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in ALLETE by 13.6% in the fourth quarter. Lazard Asset Management LLC now owns 1,371 shares of the utilities provider's stock worth $88,000 after purchasing an additional 164 shares during the period. Hedge funds and other institutional investors own 76.55% of the company's stock.

ALLETE Stock Performance

Shares of NYSE:ALE traded down $0.01 during trading on Thursday, hitting $65.14. 317,621 shares of the company traded hands, compared to its average volume of 336,290. ALLETE, Inc. has a one year low of $61.51 and a one year high of $65.99. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of 21.01 and a beta of 0.80. The company has a quick ratio of 0.69, a current ratio of 1.08 and a debt-to-equity ratio of 0.50. The business's fifty day moving average is $65.13 and its 200-day moving average is $65.21.

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

ALLETE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Thursday, May 15th were given a $0.73 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 4.48%. 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.