Voloridge Investment Management LLC Lowers Stake in ALLETE, Inc. (NYSE:ALE)

Voloridge Investment Management LLC decreased its holdings in ALLETE, Inc. (NYSE:ALE - Free Report) by 25.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 146,776 shares of the utilities provider's stock after selling 51,049 shares during the period. Voloridge Investment Management LLC owned approximately 0.25% of ALLETE worth $9,511,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in ALLETE by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 6,365,190 shares of the utilities provider's stock worth $412,464,000 after purchasing an additional 20,624 shares during the last quarter. AQR Arbitrage LLC increased its stake in ALLETE by 30.4% during the fourth quarter. AQR Arbitrage LLC now owns 847,472 shares of the utilities provider's stock worth $54,781,000 after acquiring an additional 197,340 shares during the last quarter. Highbridge Capital Management LLC acquired a new stake in ALLETE during the fourth quarter worth $54,592,000. Charles Schwab Investment Management Inc. raised its position in ALLETE by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 786,588 shares of the utilities provider's stock valued at $50,971,000 after purchasing an additional 20,245 shares during the period. Finally, Northern Trust Corp increased its position in shares of ALLETE by 14.1% during the 4th quarter. Northern Trust Corp now owns 758,828 shares of the utilities provider's stock worth $49,172,000 after purchasing an additional 93,810 shares during the last quarter. 76.55% of the stock is currently owned by institutional investors and hedge funds.

ALLETE Trading Down 0.1%

Shares of NYSE ALE traded down $0.07 during trading on Thursday, reaching $64.93. The stock had a trading volume of 307,060 shares, compared to its average volume of 341,386. The company has a market cap of $3.76 billion, a P/E ratio of 20.95 and a beta of 0.82. 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. The business's 50-day moving average price is $65.19 and its 200-day moving average price is $65.17.

ALLETE (NYSE:ALE - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The utilities provider reported $1.01 earnings per share for the quarter, hitting analysts' consensus estimates of $1.01. ALLETE had a return on equity of 5.97% and a net margin of 11.72%. The business had revenue of $400.20 million for the quarter, compared to analyst estimates of $456.30 million. During the same quarter in the prior year, the company earned $0.90 earnings per share. The company'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. Investors of record on Thursday, May 15th will be paid a dividend of $0.73 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 4.50%. ALLETE's payout ratio 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.