Northern Trust Corp Has $49.17 Million Holdings in ALLETE, Inc. (NYSE:ALE)

Northern Trust Corp raised its position in ALLETE, Inc. (NYSE:ALE - Free Report) by 14.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 758,828 shares of the utilities provider's stock after purchasing an additional 93,810 shares during the period. Northern Trust Corp owned 1.31% of ALLETE worth $49,172,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp boosted its position in ALLETE by 30.9% during the fourth quarter. Jones Financial Companies Lllp now owns 729 shares of the utilities provider's stock valued at $47,000 after acquiring an additional 172 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of ALLETE by 32.9% during the 4th quarter. Fifth Third Bancorp now owns 876 shares of the utilities provider's stock valued at $57,000 after purchasing an additional 217 shares in the last quarter. Headlands Technologies LLC acquired a new stake in ALLETE during the fourth quarter worth approximately $73,000. Covestor Ltd increased its holdings in ALLETE by 38.0% in the fourth quarter. Covestor Ltd now owns 2,410 shares of the utilities provider's stock worth $156,000 after purchasing an additional 663 shares in the last quarter. Finally, KBC Group NV lifted its stake in ALLETE by 61.7% in the fourth quarter. KBC Group NV now owns 2,431 shares of the utilities provider's stock valued at $158,000 after buying an additional 928 shares during the period. 76.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of ALLETE in a research note on Friday, January 10th. They issued a "hold" rating for the company.

ALLETE Stock Performance

Shares of ALE opened at $65.50 on Thursday. The stock has a 50-day moving average of $65.25 and a 200-day moving average of $65.08. ALLETE, Inc. has a one year low of $61.51 and a one year high of $65.99. 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 company has a market cap of $3.80 billion, a PE ratio of 21.13 and a beta of 0.82.

ALLETE (NYSE:ALE - Get Free Report) last released its quarterly earnings data 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 Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 4.46%. The ex-dividend date of this dividend is Thursday, May 15th. ALLETE's payout ratio is presently 94.19%.

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.

Want to see what other hedge funds are holding ALE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ALLETE, Inc. (NYSE:ALE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.