Mercer Global Advisors Inc. ADV Takes Position in ALLETE, Inc. (NYSE:ALE)

Mercer Global Advisors Inc. ADV acquired a new position in shares of ALLETE, Inc. (NYSE:ALE - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 11,034 shares of the utilities provider's stock, valued at approximately $715,000.

Several other large investors have also recently made changes to their positions in ALE. Jones Financial Companies Lllp lifted its stake in ALLETE by 30.9% in 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 in the last quarter. Fifth Third Bancorp increased its holdings in shares of 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 purchasing an additional 217 shares during the last quarter. Headlands Technologies LLC purchased a new position in ALLETE during the fourth quarter worth approximately $73,000. Covestor Ltd lifted its position in 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 in the last quarter. Finally, KBC Group NV boosted 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 and hedge funds.

ALLETE Trading Down 0.0%

Shares of ALE stock traded down $0.02 during trading on Friday, hitting $65.07. 86,402 shares of the stock traded hands, compared to its average volume of 358,651. ALLETE, Inc. has a 52-week low of $61.51 and a 52-week high of $65.99. The firm has a market capitalization of $3.77 billion, a P/E ratio of 20.99 and a beta of 0.82. The firm's fifty day moving average price is $65.26 and its 200-day moving average price is $65.13. 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 (NYSE:ALE - Get Free Report) last announced its earnings results 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 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 quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.90 earnings per share.

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 dividend of $0.73 per share. 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 4.49%. ALLETE's payout ratio is 91.54%.

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.