Integrated Wealth Concepts LLC Purchases 9,276 Shares of ALLETE, Inc. (NYSE:ALE)

Integrated Wealth Concepts LLC lifted its holdings in ALLETE, Inc. (NYSE:ALE - Free Report) by 20.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 55,756 shares of the utilities provider's stock after purchasing an additional 9,276 shares during the period. Integrated Wealth Concepts LLC owned approximately 0.10% of ALLETE worth $3,613,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Jones Financial Companies Lllp grew its position 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 purchasing an additional 172 shares during the last quarter. Fifth Third Bancorp increased its holdings in 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 in the last quarter. Headlands Technologies LLC purchased a new stake in ALLETE during the fourth quarter worth $73,000. Covestor Ltd lifted its holdings in shares of ALLETE by 38.0% in the fourth quarter. Covestor Ltd now owns 2,410 shares of the utilities provider's stock valued at $156,000 after purchasing an additional 663 shares in the last quarter. Finally, KBC Group NV increased its position in ALLETE by 61.7% during the fourth quarter. KBC Group NV now owns 2,431 shares of the utilities provider's stock worth $158,000 after buying an additional 928 shares in the last quarter. 76.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

ALLETE Stock Up 0.2 %

ALE stock traded up $0.12 during mid-day trading on Friday, hitting $65.37. The stock had a trading volume of 167,042 shares, compared to its average volume of 378,319. The company has a current ratio of 1.08, a quick ratio of 0.69 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $3.79 billion, a price-to-earnings ratio of 21.09 and a beta of 0.69. The company has a fifty day moving average of $65.26 and a 200 day moving average of $65.05. ALLETE, Inc. has a 1-year low of $60.34 and a 1-year high of $65.99.

ALLETE (NYSE:ALE - Get Free Report) last issued 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 Dividend Announcement

The business also recently declared 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. This represents a $2.92 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date is Thursday, May 15th. ALLETE's dividend payout ratio (DPR) is currently 94.19%.

About ALLETE

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.