Lighthouse Investment Partners LLC Invests $1.31 Million in ALLETE, Inc. (NYSE:ALE)

Lighthouse Investment Partners LLC purchased a new stake in shares of ALLETE, Inc. (NYSE:ALE - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 20,245 shares of the utilities provider's stock, valued at approximately $1,312,000.

A number of other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in ALLETE by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 6,365,190 shares of the utilities provider's stock valued at $412,464,000 after purchasing an additional 20,624 shares in the last quarter. AQR Arbitrage LLC increased its stake in shares of ALLETE by 30.4% during the fourth quarter. AQR Arbitrage LLC now owns 847,472 shares of the utilities provider's stock valued at $54,781,000 after buying an additional 197,340 shares during the period. Highbridge Capital Management LLC bought a new stake in shares of ALLETE in the fourth quarter valued at about $54,592,000. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 acquiring an additional 20,245 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in ALLETE by 14.1% in the fourth quarter. Northern Trust Corp now owns 758,828 shares of the utilities provider's stock worth $49,172,000 after acquiring an additional 93,810 shares during the period. Hedge funds and other institutional investors own 76.55% of the company's stock.

ALLETE Stock Up 0.1%

Shares of ALLETE stock opened at $65.75 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.08 and a quick ratio of 0.69. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 21.21 and a beta of 0.82. The firm's 50-day moving average is $65.26 and its two-hundred day moving average is $65.12. ALLETE, Inc. has a 1 year low of $61.51 and a 1 year high of $65.99.

ALLETE (NYSE:ALE - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.01. The firm had revenue of $400.20 million for the quarter, compared to the consensus estimate of $456.30 million. ALLETE had a net margin of 11.72% and a return on equity of 5.97%. The company's quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the firm earned $0.90 earnings per share.

ALLETE Announces Dividend

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 issued a $0.73 dividend. 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 4.44%. ALLETE's dividend payout ratio is presently 91.54%.

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.

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