ALLETE, Inc. (NYSE:ALE) Shares Sold by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. cut its stake in shares of ALLETE, Inc. (NYSE:ALE - Free Report) by 25.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,000 shares of the utilities provider's stock after selling 20,000 shares during the period. Polar Asset Management Partners Inc. owned approximately 0.10% of ALLETE worth $3,888,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in ALE. Jones Financial Companies Lllp grew its position in shares of ALLETE by 30.9% during the fourth quarter. Jones Financial Companies Lllp now owns 729 shares of the utilities provider's stock worth $47,000 after buying an additional 172 shares in the last quarter. Fifth Third Bancorp raised its holdings in ALLETE by 32.9% in the fourth quarter. Fifth Third Bancorp now owns 876 shares of the utilities provider's stock valued at $57,000 after acquiring an additional 217 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in ALLETE in the fourth quarter worth approximately $72,000. Headlands Technologies LLC acquired a new position in ALLETE during the 4th quarter worth approximately $73,000. Finally, Lazard Asset Management LLC increased its position in shares of ALLETE by 13.6% in the 4th quarter. Lazard Asset Management LLC now owns 1,371 shares of the utilities provider's stock valued at $88,000 after purchasing an additional 164 shares during the last quarter. 76.55% of the stock is currently owned by institutional investors and hedge funds.

ALLETE Stock Up 0.1%

Shares of NYSE ALE traded up $0.09 during midday trading on Friday, hitting $65.02. 433,058 shares of the company's stock were exchanged, compared to its average volume of 341,098. The firm's fifty day simple moving average is $65.17 and its 200-day simple moving average is $65.17. The company has a market cap of $3.77 billion, a PE ratio of 20.97 and a beta of 0.82. ALLETE, Inc. has a twelve month low of $61.51 and a twelve month high of $65.99. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.08 and a quick ratio of 0.69.

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

ALLETE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.73 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $2.92 annualized dividend and a dividend yield of 4.49%. 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.