Nomura Holdings Inc. Makes New Investment in ALLETE, Inc. (NYSE:ALE)

Nomura Holdings Inc. purchased a new stake in ALLETE, Inc. (NYSE:ALE - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,658 shares of the utilities provider's stock, valued at approximately $496,000.

Several other institutional investors have also bought and sold shares of ALE. Highbridge Capital Management LLC acquired a new stake in ALLETE in the 4th quarter valued at $54,592,000. Fort Baker Capital Management LP acquired a new position in ALLETE in the fourth quarter worth $17,301,000. AQR Arbitrage LLC boosted its stake in ALLETE by 30.4% in the fourth quarter. AQR Arbitrage LLC now owns 847,472 shares of the utilities provider's stock worth $54,781,000 after purchasing an additional 197,340 shares in the last quarter. Balyasny Asset Management L.P. boosted its stake in ALLETE by 627.7% in the fourth quarter. Balyasny Asset Management L.P. now owns 165,730 shares of the utilities provider's stock worth $10,739,000 after purchasing an additional 142,957 shares in the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new position in ALLETE in the fourth quarter worth $8,741,000. Institutional investors and hedge funds own 76.55% of the company's stock.

ALLETE Price Performance

ALLETE stock traded up $0.28 on Tuesday, reaching $65.26. The company's stock had a trading volume of 428,101 shares, compared to its average volume of 342,435. 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 company has a market cap of $3.78 billion, a price-to-earnings ratio of 21.05 and a beta of 0.82. The business's fifty day moving average price is $65.20 and its 200 day moving average price is $65.17. ALLETE, Inc. has a twelve month low of $61.51 and a twelve month high of $65.99.

ALLETE (NYSE:ALE - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The utilities provider reported $1.01 EPS for the quarter, hitting analysts' consensus estimates of $1.01. The company had revenue of $400.20 million for 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 was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.90 earnings per share.

ALLETE Announces Dividend

The firm also recently disclosed 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. This represents a $2.92 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date of this dividend is Thursday, May 15th. ALLETE's dividend payout ratio is currently 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.