ALLETE, Inc. (NYSE:ALE) Shares Sold by Guggenheim Capital LLC

Guggenheim Capital LLC decreased its position in shares of ALLETE, Inc. (NYSE:ALE - Free Report) by 48.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 10,358 shares of the utilities provider's stock after selling 9,669 shares during the period. Guggenheim Capital LLC's holdings in ALLETE were worth $671,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. raised its stake in ALLETE by 16.5% during the fourth quarter. JPMorgan Chase & Co. now owns 352,124 shares of the utilities provider's stock worth $22,818,000 after purchasing an additional 49,993 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of ALLETE during the 4th quarter valued at $380,000. HighTower Advisors LLC lifted its holdings in shares of ALLETE by 15.7% during the 4th quarter. HighTower Advisors LLC now owns 6,311 shares of the utilities provider's stock valued at $409,000 after acquiring an additional 855 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. acquired a new position in shares of ALLETE during the 4th quarter valued at $5,378,000. Finally, Resona Asset Management Co. Ltd. acquired a new position in shares of ALLETE during the 4th quarter valued at $671,000. Hedge funds and other institutional investors own 76.55% of the company's stock.

ALLETE Stock Up 0.2 %

NYSE ALE traded up $0.15 during mid-day trading on Wednesday, reaching $65.41. 427,522 shares of the company's stock traded hands, compared to its average volume of 378,783. The company has a market cap of $3.79 billion, a price-to-earnings ratio of 21.10 and a beta of 0.69. The company has a fifty day simple moving average of $65.26 and a 200-day simple moving average of $65.04. 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, Inc. has a 1-year low of $59.15 and a 1-year high of $65.99.

ALLETE (NYSE:ALE - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.15). ALLETE had a net margin of 11.72% and a return on equity of 5.97%.

ALLETE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th will be given a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 4.46%. The ex-dividend date of this dividend is Thursday, May 15th. ALLETE's dividend payout ratio is presently 94.19%.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of ALLETE in a report on Friday, January 10th. They set a "hold" rating on the stock.

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.