4,855 Shares in Allete, Inc. (NYSE:ALE) Purchased by Sowell Financial Services LLC

Sowell Financial Services LLC acquired a new position in shares of Allete, Inc. (NYSE:ALE - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,855 shares of the utilities provider's stock, valued at approximately $319,000.

Several other institutional investors have also recently bought and sold shares of the business. UMB Bank n.a. raised its holdings in shares of Allete by 78.0% in the first quarter. UMB Bank n.a. now owns 534 shares of the utilities provider's stock valued at $35,000 after purchasing an additional 234 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Allete by 30.9% in the fourth quarter. Jones Financial Companies Lllp now owns 729 shares of the utilities provider's stock valued at $47,000 after purchasing an additional 172 shares during the last quarter. Sound Income Strategies LLC raised its holdings in shares of Allete by 646.7% in the first quarter. Sound Income Strategies LLC now owns 911 shares of the utilities provider's stock valued at $60,000 after purchasing an additional 789 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Allete in the fourth quarter valued at about $72,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Allete in the fourth quarter valued at about $73,000. Institutional investors and hedge funds own 76.55% of the company's stock.

Allete Stock Up 0.3%

Shares of ALE stock traded up $0.22 on Monday, hitting $63.75. The stock had a trading volume of 282,064 shares, compared to its average volume of 339,485. The business has a 50 day moving average of $65.08 and a 200 day moving average of $65.19. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of 17.90 and a beta of 0.80. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.26 and a quick ratio of 0.81. Allete, Inc. has a 12-month low of $61.51 and a 12-month high of $66.40.

Allete (NYSE:ALE - Get Free Report) last announced its earnings results on Thursday, May 8th. The utilities provider reported $1.01 EPS for the quarter, meeting the consensus estimate of $1.01. The company had revenue of $400.20 million during the quarter, compared to the consensus estimate of $456.30 million. Allete had a net margin of 12.10% and a return on equity of 6.05%. The firm's revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.90 earnings per share.

Allete Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Thursday, May 15th were issued a dividend of $0.73 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $2.92 dividend on an annualized basis and a yield of 4.58%. 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.