Quantinno Capital Management LP Takes $267,000 Position in ALLETE, Inc. (NYSE:ALE)

Quantinno Capital Management LP purchased a new position in ALLETE, Inc. (NYSE:ALE - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,126 shares of the utilities provider's stock, valued at approximately $267,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Highbridge Capital Management LLC bought a new position in shares of ALLETE in the fourth quarter valued at approximately $54,592,000. Fort Baker Capital Management LP acquired a new position in shares of ALLETE in the 4th quarter valued at $17,301,000. AQR Arbitrage LLC grew its holdings in shares of ALLETE by 30.4% in the 4th quarter. AQR Arbitrage LLC now owns 847,472 shares of the utilities provider's stock valued at $54,781,000 after buying an additional 197,340 shares during the period. Balyasny Asset Management L.P. boosted its stake in ALLETE by 627.7% in the 4th 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 during the period. Finally, Kapitalo Investimentos Ltda acquired a new position in ALLETE in the 4th quarter worth $8,741,000. Institutional investors and hedge funds own 76.55% of the company's stock.

ALLETE Stock Down 0.1%

Shares of ALLETE stock traded down $0.07 during trading hours on Thursday, reaching $64.93. 307,061 shares of the company's stock were exchanged, compared to its average volume of 341,386. The company has a 50 day moving average of $65.19 and a two-hundred day moving average of $65.17. ALLETE, Inc. has a fifty-two week low of $61.51 and a fifty-two week high of $65.99. The company has a current ratio of 1.08, a quick ratio of 0.69 and a debt-to-equity ratio of 0.50. The stock has a market cap of $3.76 billion, a P/E ratio of 20.95 and a beta of 0.82.

ALLETE (NYSE:ALE - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The utilities provider reported $1.01 earnings per share for the quarter, meeting 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 analysts' expectations of $456.30 million. During the same period in the prior year, the firm earned $0.90 EPS. The business's revenue was down .8% on a year-over-year basis.

ALLETE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be issued 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 4.50%. ALLETE's dividend payout ratio 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.