Kapitalo Investimentos Ltda Makes New $8.74 Million Investment in ALLETE, Inc. (NYSE:ALE)

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

Several other hedge funds and other institutional investors also recently made changes to their positions in ALE. Jones Financial Companies Lllp lifted its stake in shares of ALLETE by 30.9% in the fourth quarter. Jones Financial Companies Lllp now owns 729 shares of the utilities provider's stock worth $47,000 after acquiring an additional 172 shares during the period. Fifth Third Bancorp lifted its position in shares of 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. Headlands Technologies LLC bought a new stake in shares of ALLETE in the 4th quarter valued at $73,000. Covestor Ltd increased its position in shares of ALLETE by 38.0% during the fourth quarter. Covestor Ltd now owns 2,410 shares of the utilities provider's stock worth $156,000 after buying an additional 663 shares during the period. Finally, KBC Group NV raised its stake 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 during the last quarter. 76.55% of the stock is currently owned by institutional investors.

ALLETE Trading Up 0.4 %

Shares of NYSE:ALE traded up $0.24 during mid-day trading on Friday, hitting $65.49. The company had a trading volume of 454,416 shares, compared to its average volume of 375,869. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.08 and a quick ratio of 0.69. ALLETE, Inc. has a one year low of $61.51 and a one year high of $65.99. The firm has a fifty day moving average price of $65.25 and a 200 day moving average price of $65.06. The company has a market capitalization of $3.80 billion, a PE ratio of 21.13 and a beta of 0.69.

ALLETE (NYSE:ALE - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.87 earnings per share 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 company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.73 per share. The ex-dividend date is Thursday, May 15th. This represents a $2.92 annualized dividend and a dividend yield of 4.46%. ALLETE's dividend payout ratio is 94.19%.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on ALLETE in a research report on Friday, January 10th. They issued a "hold" rating for the company.

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.