Quantinno Capital Management LP Purchases New Shares in ALLETE, Inc. (NYSE:ALE)

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

Several other hedge funds and other institutional investors have also modified their holdings of ALE. Nomura Holdings Inc. bought a new position in shares of ALLETE during the 4th quarter worth about $496,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in ALLETE by 11.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,406 shares of the utilities provider's stock worth $2,813,000 after purchasing an additional 4,496 shares during the period. Moore Capital Management LP boosted its stake in ALLETE by 13.6% during the fourth quarter. Moore Capital Management LP now owns 25,000 shares of the utilities provider's stock worth $1,620,000 after buying an additional 3,000 shares in the last quarter. Lazard Asset Management LLC increased its holdings in 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 buying an additional 164 shares during the period. Finally, LMR Partners LLP acquired a new position in shares of ALLETE in the 4th quarter valued at $5,994,000. 76.55% of the stock is currently owned by hedge funds and other institutional investors.

ALLETE Price Performance

Shares of NYSE:ALE traded up $0.09 during midday trading on Friday, reaching $65.02. 433,058 shares of the company's stock were exchanged, compared to its average volume of 339,958. 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's 50 day simple moving average is $65.16 and its two-hundred day simple moving average is $65.17. ALLETE, Inc. has a 12 month low of $61.51 and a 12 month high of $65.99. The firm has a market capitalization of $3.77 billion, a PE ratio of 20.97 and a beta of 0.82.

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

ALLETE Announces Dividend

The company 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 $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 4.49%. The ex-dividend date is Thursday, May 15th. ALLETE's payout ratio is 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.