Teacher Retirement System of Texas Takes Position in Allete, Inc. (NYSE:ALE)

Teacher Retirement System of Texas bought a new position in shares of Allete, Inc. (NYSE:ALE - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 15,563 shares of the utilities provider's stock, valued at approximately $1,022,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. lifted its holdings in Allete by 78.0% during the first quarter. UMB Bank n.a. now owns 534 shares of the utilities provider's stock worth $35,000 after acquiring an additional 234 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in 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 acquiring an additional 172 shares in the last quarter. Cherry Tree Wealth Management LLC bought a new position in Allete during the first quarter worth about $49,000. Sound Income Strategies LLC lifted its holdings in Allete by 646.7% during the first quarter. Sound Income Strategies LLC now owns 911 shares of the utilities provider's stock worth $60,000 after acquiring an additional 789 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Allete during the fourth quarter worth about $72,000. 76.55% of the stock is currently owned by institutional investors.

Allete Trading Down 0.4%

ALE stock traded down $0.25 during midday trading on Thursday, hitting $65.65. 891,304 shares of the company's stock were exchanged, compared to its average volume of 356,326. The stock's fifty day moving average price is $64.98 and its 200-day moving average price is $65.22. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.81 and a current ratio of 1.26. The company has a market cap of $3.81 billion, a PE ratio of 20.58 and a beta of 0.79. Allete, Inc. has a one year low of $63.00 and a one year high of $66.46.

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

Allete Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th were issued a $0.73 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 4.45%. Allete's dividend payout ratio (DPR) is 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.