ProShare Advisors LLC Increases Holdings in ALLETE, Inc. (NYSE:ALE)

ProShare Advisors LLC raised its stake in ALLETE, Inc. (NYSE:ALE - Free Report) by 12.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 142,332 shares of the utilities provider's stock after acquiring an additional 15,456 shares during the quarter. ProShare Advisors LLC owned about 0.25% of ALLETE worth $9,223,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in ALE. Lazard Asset Management LLC lifted its stake in ALLETE by 13.6% during 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 last quarter. Jones Financial Companies Lllp lifted its position in shares of ALLETE by 30.9% in the 4th quarter. Jones Financial Companies Lllp now owns 729 shares of the utilities provider's stock worth $47,000 after purchasing an additional 172 shares during the period. Fifth Third Bancorp boosted its position in shares of ALLETE by 32.9% during the 4th quarter. Fifth Third Bancorp now owns 876 shares of the utilities provider's stock valued at $57,000 after purchasing an additional 217 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of ALLETE by 2.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 11,786 shares of the utilities provider's stock worth $764,000 after buying an additional 295 shares in the last quarter. Finally, Xponance Inc. grew its holdings in ALLETE by 4.5% in the fourth quarter. Xponance Inc. now owns 8,198 shares of the utilities provider's stock worth $531,000 after purchasing an additional 356 shares during the period. 76.55% of the stock is owned by institutional investors and hedge funds.

ALLETE Stock Up 0.0%

Shares of ALLETE stock traded up $0.03 during trading hours on Friday, reaching $64.98. The company's stock had a trading volume of 37,389 shares, compared to its average volume of 341,953. ALLETE, Inc. has a one year low of $61.51 and a one year high of $65.99. The company has a market capitalization of $3.77 billion, a P/E ratio of 20.95 and a beta of 0.82. 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 stock's fifty day simple moving average is $65.23 and its two-hundred day simple moving average is $65.16.

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

ALLETE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be given a dividend of $0.73 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 4.49%. ALLETE's dividend payout ratio (DPR) is presently 91.54%.

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.