Teacher Retirement System of Texas Buys New Shares in Allete, Inc. (NYSE:ALE)

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

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ALE. Lazard Asset Management LLC lifted its holdings in Allete by 13.6% during the 4th quarter. Lazard Asset Management LLC now owns 1,371 shares of the utilities provider's stock worth $88,000 after buying an additional 164 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in Allete by 30.9% during the 4th quarter. Jones Financial Companies Lllp now owns 729 shares of the utilities provider's stock worth $47,000 after buying an additional 172 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in Allete by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 6,781 shares of the utilities provider's stock worth $445,000 after buying an additional 185 shares during the last quarter. UMB Bank n.a. lifted its holdings in Allete by 78.0% during the 1st quarter. UMB Bank n.a. now owns 534 shares of the utilities provider's stock worth $35,000 after buying an additional 234 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Allete by 15.2% during the 1st quarter. GAMMA Investing LLC now owns 1,835 shares of the utilities provider's stock worth $121,000 after buying an additional 242 shares during the last quarter. 76.55% of the stock is currently owned by hedge funds and other institutional investors.

Allete Stock Up 1.7%

Allete stock opened at $66.10 on Monday. Allete, Inc. has a fifty-two week low of $63.00 and a fifty-two week high of $66.40. 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 capitalization of $3.83 billion, a P/E ratio of 20.72 and a beta of 0.79. The stock has a 50-day simple moving average of $64.93 and a 200-day simple moving average of $65.19.

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

Allete Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Thursday, May 15th were paid a $0.73 dividend. The ex-dividend date was Thursday, May 15th. This represents a $2.92 dividend on an annualized basis and a yield of 4.42%. Allete's dividend payout ratio (DPR) 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.

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