Kapitalo Investimentos Ltda Makes New Investment in ALLETE, Inc. (NYSE:ALE)

Kapitalo Investimentos Ltda bought a new position in ALLETE, Inc. (NYSE:ALE - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 134,889 shares of the utilities provider's stock, valued at approximately $8,741,000. ALLETE comprises about 5.8% of Kapitalo Investimentos Ltda's portfolio, making the stock its 5th biggest position. Kapitalo Investimentos Ltda owned approximately 0.23% of ALLETE at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ALE. Paloma Partners Management Co raised its stake in ALLETE by 46.8% during the 4th quarter. Paloma Partners Management Co now owns 6,088 shares of the utilities provider's stock valued at $395,000 after purchasing an additional 1,942 shares during the period. Northern Trust Corp raised its position in ALLETE by 14.1% during the fourth quarter. Northern Trust Corp now owns 758,828 shares of the utilities provider's stock valued at $49,172,000 after buying an additional 93,810 shares during the period. Melqart Asset Management UK Ltd acquired a new stake in ALLETE during the 4th quarter worth about $4,982,000. Susquehanna Fundamental Investments LLC acquired a new stake in ALLETE during the 4th quarter worth about $1,851,000. Finally, Integrated Wealth Concepts LLC grew its stake in ALLETE by 20.0% during the 4th quarter. Integrated Wealth Concepts LLC now owns 55,756 shares of the utilities provider's stock valued at $3,613,000 after acquiring an additional 9,276 shares in the last quarter. 76.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

ALLETE Stock Down 0.0 %

Shares of ALE traded down $0.02 during midday trading on Monday, reaching $65.46. 52,063 shares of the stock were exchanged, compared to its average volume of 374,667. The company has a market cap of $3.79 billion, a price-to-earnings ratio of 21.12 and a beta of 0.69. The company has a quick ratio of 0.69, a current ratio of 1.08 and a debt-to-equity ratio of 0.50. ALLETE, Inc. has a 12-month low of $61.51 and a 12-month high of $65.99. The firm has a 50 day simple moving average of $65.25 and a 200-day simple moving average of $65.06.

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

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 $0.73 dividend. The ex-dividend date is Thursday, May 15th. This represents a $2.92 dividend on an annualized basis and a yield of 4.46%. ALLETE's payout ratio is presently 94.19%.

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.