Jane Street Group LLC Lowers Stake in ALLETE, Inc. (NYSE:ALE)

Jane Street Group LLC reduced its stake in shares of ALLETE, Inc. (NYSE:ALE - Free Report) by 95.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,269 shares of the utilities provider's stock after selling 116,362 shares during the quarter. Jane Street Group LLC's holdings in ALLETE were worth $341,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Barclays PLC raised its stake in shares of ALLETE by 187.1% during the 3rd quarter. Barclays PLC now owns 100,079 shares of the utilities provider's stock worth $6,425,000 after buying an additional 65,222 shares during the period. Fifth Third Bancorp increased its holdings in ALLETE by 32.9% in the 4th quarter. Fifth Third Bancorp now owns 876 shares of the utilities provider's stock worth $57,000 after acquiring an additional 217 shares in the last quarter. KBC Group NV increased its holdings in ALLETE by 61.7% in the 4th quarter. KBC Group NV now owns 2,431 shares of the utilities provider's stock worth $158,000 after acquiring an additional 928 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. acquired a new position in ALLETE during the fourth quarter worth $5,378,000. Finally, Yorktown Management & Research Co Inc purchased a new position in ALLETE during the fourth quarter valued at $305,000. 76.55% of the stock is owned by institutional investors and hedge funds.

ALLETE Price Performance

Shares of ALE stock traded up $0.05 on Tuesday, reaching $65.36. 324,760 shares of the company were exchanged, compared to its average volume of 357,413. ALLETE, Inc. has a 1 year low of $61.51 and a 1 year high of $65.99. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.69 and a current ratio of 1.08. The business has a 50-day moving average price of $65.16 and a 200 day moving average price of $65.18. The company has a market cap of $3.79 billion, a price-to-earnings ratio of 21.08 and a beta of 0.82.

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

ALLETE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th were paid a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 4.47%. The ex-dividend date of this dividend was Thursday, May 15th. ALLETE's dividend payout ratio (DPR) is presently 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.