LMR Partners LLP Invests $5.99 Million in ALLETE, Inc. (NYSE:ALE)

LMR Partners LLP bought a new stake in ALLETE, Inc. (NYSE:ALE - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 92,502 shares of the utilities provider's stock, valued at approximately $5,994,000. LMR Partners LLP owned approximately 0.16% of ALLETE at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp lifted its holdings 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 buying an additional 172 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of ALLETE by 32.9% during the fourth quarter. Fifth Third Bancorp now owns 876 shares of the utilities provider's stock valued at $57,000 after purchasing an additional 217 shares during the period. Exchange Traded Concepts LLC raised its stake in shares of ALLETE by 2.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 11,786 shares of the utilities provider's stock valued at $764,000 after acquiring an additional 295 shares during the last quarter. Xponance Inc. lifted its holdings in ALLETE by 4.5% in the 4th quarter. Xponance Inc. now owns 8,198 shares of the utilities provider's stock worth $531,000 after buying an additional 356 shares during the period. Finally, Captrust Financial Advisors increased its position in ALLETE by 1.0% during the 4th quarter. Captrust Financial Advisors now owns 47,822 shares of the utilities provider's stock valued at $3,099,000 after purchasing an additional 481 shares during the period. 76.55% of the stock is owned by institutional investors and hedge funds.

ALLETE Stock Up 0.1%

ALLETE stock traded up $0.05 during trading hours on Friday, hitting $65.13. 523,423 shares of the stock traded hands, compared to its average volume of 348,591. ALLETE, Inc. has a one year low of $61.51 and a one year high of $65.99. The firm's 50-day moving average price is $65.26 and its two-hundred day moving average price is $65.13. 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 company has a market cap of $3.78 billion, a PE ratio of 21.01 and a beta of 0.82.

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

ALLETE Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 4.48%. ALLETE's payout ratio is 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.