Tidal Investments LLC Has $1.06 Million Holdings in ALLETE, Inc. (NYSE:ALE)

Tidal Investments LLC boosted its stake in shares of ALLETE, Inc. (NYSE:ALE - Free Report) by 285.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,411 shares of the utilities provider's stock after buying an additional 12,158 shares during the period. Tidal Investments LLC's holdings in ALLETE were worth $1,063,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Barclays PLC grew its stake in shares of ALLETE by 187.1% in the 3rd quarter. Barclays PLC now owns 100,079 shares of the utilities provider's stock valued at $6,425,000 after buying an additional 65,222 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in ALLETE by 2.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 11,786 shares of the utilities provider's stock valued at $764,000 after purchasing an additional 295 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of ALLETE by 32.9% in the fourth quarter. Fifth Third Bancorp now owns 876 shares of the utilities provider's stock valued at $57,000 after buying an additional 217 shares during the period. KBC Group NV grew its holdings in shares of ALLETE by 61.7% during the 4th quarter. KBC Group NV now owns 2,431 shares of the utilities provider's stock worth $158,000 after purchasing an additional 928 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. acquired a new stake in ALLETE during the fourth quarter worth $5,378,000. Hedge funds and other institutional investors own 76.55% of the company's stock.

ALLETE Price Performance

NYSE:ALE traded down $0.04 during mid-day trading on Friday, hitting $64.89. The company's stock had a trading volume of 64,970 shares, compared to its average volume of 339,653. ALLETE, Inc. has a fifty-two week low of $61.51 and a fifty-two week high of $65.99. The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of 20.94 and a beta of 0.82. The stock has a fifty day moving average of $65.17 and a 200-day moving average of $65.17. The company has a current ratio of 1.08, a quick ratio of 0.69 and a debt-to-equity ratio of 0.50.

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 analysts' consensus estimates of $1.01. ALLETE had a return on equity of 5.97% and a net margin of 11.72%. The firm had revenue of $400.20 million during the quarter, compared to analysts' expectations of $456.30 million. During the same period last year, the firm posted $0.90 EPS. The business's 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 paid a $0.73 dividend. The ex-dividend date is Thursday, May 15th. This represents a $2.92 annualized dividend and a dividend yield of 4.50%. ALLETE's dividend payout ratio (DPR) is currently 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.