MetLife Investment Management LLC Has $4.32 Million Stock Position in ALLETE, Inc. (NYSE:ALE)

MetLife Investment Management LLC boosted its stake in shares of ALLETE, Inc. (NYSE:ALE - Free Report) by 6.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 66,592 shares of the utilities provider's stock after acquiring an additional 4,284 shares during the period. MetLife Investment Management LLC owned about 0.12% of ALLETE worth $4,315,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Barclays PLC lifted its position in shares of ALLETE by 187.1% during the 3rd quarter. Barclays PLC now owns 100,079 shares of the utilities provider's stock worth $6,425,000 after buying an additional 65,222 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of ALLETE in the 3rd quarter worth $282,000. Franklin Resources Inc. lifted its holdings in shares of ALLETE by 9.8% during the 3rd quarter. Franklin Resources Inc. now owns 65,056 shares of the utilities provider's stock valued at $4,190,000 after acquiring an additional 5,799 shares in the last quarter. CWA Asset Management Group LLC boosted its position in ALLETE by 13.5% in the 4th quarter. CWA Asset Management Group LLC now owns 19,613 shares of the utilities provider's stock valued at $1,271,000 after buying an additional 2,339 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its stake in ALLETE by 6.7% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 20,197 shares of the utilities provider's stock valued at $1,309,000 after buying an additional 1,269 shares in the last quarter. 76.55% of the stock is currently owned by institutional investors and hedge funds.

ALLETE Stock Performance

NYSE:ALE traded up $0.03 during trading hours on Wednesday, hitting $65.29. 78,704 shares of the company traded hands, compared to its average volume of 376,862. The firm has a 50-day moving average of $65.26 and a 200 day moving average of $65.04. 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 stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of 21.06 and a beta of 0.69. ALLETE, Inc. has a twelve month low of $59.00 and a twelve month high of $65.99.

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 net margin of 11.72% and a return on equity of 5.97%.

ALLETE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date of this dividend is Thursday, May 15th. ALLETE's dividend payout ratio is currently 94.19%.

Wall Street Analysts Forecast Growth

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

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.