UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Position in ALLETE, Inc. (NYSE:ALE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in ALLETE, Inc. (NYSE:ALE - Free Report) by 3.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 100,950 shares of the utilities provider's stock after selling 3,851 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.17% of ALLETE worth $6,542,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in ALE. Barclays PLC grew its position in ALLETE by 187.1% in the 3rd quarter. Barclays PLC now owns 100,079 shares of the utilities provider's stock worth $6,425,000 after purchasing an additional 65,222 shares during the period. Fifth Third Bancorp grew its position in ALLETE by 32.9% in the 4th quarter. Fifth Third Bancorp now owns 876 shares of the utilities provider's stock worth $57,000 after purchasing an additional 217 shares during the period. KBC Group NV grew its position in ALLETE by 61.7% in 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 during the period. Tokio Marine Asset Management Co. Ltd. bought a new stake in ALLETE in the 4th quarter worth approximately $5,378,000. Finally, Yorktown Management & Research Co Inc bought a new stake in ALLETE in the 4th quarter worth approximately $305,000. Institutional investors own 76.55% of the company's stock.

ALLETE Stock Performance

NYSE:ALE remained flat at $65.18 during trading hours on Thursday. 229,344 shares of the company's stock were exchanged, compared to its average volume of 339,413. The company's 50 day simple moving average is $65.13 and its 200 day simple moving average is $65.19. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of 21.03 and a beta of 0.80. ALLETE, Inc. has a fifty-two week low of $61.51 and a fifty-two week high of $65.99. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.69 and a current ratio of 1.08.

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 for the quarter, hitting the consensus estimate of $1.01. The business had revenue of $400.20 million for the quarter, compared to analysts' expectations of $456.30 million. ALLETE had a net margin of 11.72% and a return on equity of 5.97%. The company's revenue was down .8% compared to the same quarter last year. During the same quarter last year, the company posted $0.90 EPS.

ALLETE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th were paid a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 4.48%. The ex-dividend date of this dividend was Thursday, May 15th. ALLETE's dividend payout ratio 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.