One68 Global Capital LLC Makes New Investment in ALLETE, Inc. (NYSE:ALE)

One68 Global Capital LLC purchased a new stake in ALLETE, Inc. (NYSE:ALE - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,275 shares of the utilities provider's stock, valued at approximately $666,000.

Several other institutional investors have also recently bought and sold shares of ALE. Barclays PLC lifted its stake in ALLETE by 187.1% during the 3rd quarter. Barclays PLC now owns 100,079 shares of the utilities provider's stock valued at $6,425,000 after acquiring an additional 65,222 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of ALLETE during the third quarter valued at about $282,000. Franklin Resources Inc. boosted its holdings in ALLETE by 9.8% during the third quarter. Franklin Resources Inc. now owns 65,056 shares of the utilities provider's stock worth $4,190,000 after purchasing an additional 5,799 shares during the last quarter. CWA Asset Management Group LLC grew 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 worth $1,271,000 after purchasing an additional 2,339 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its stake in ALLETE by 6.7% in the 4th 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 during the last quarter. Institutional investors and hedge funds own 76.55% of the company's stock.

ALLETE Stock Performance

Shares of NYSE ALE traded down $0.02 during mid-day trading on Monday, reaching $65.46. 79,804 shares of the company's stock were exchanged, compared to its average volume of 374,694. The firm has a market capitalization of $3.79 billion, a price-to-earnings ratio of 21.12 and a beta of 0.69. The firm has a 50-day moving average price of $65.25 and a two-hundred day moving average price of $65.06. 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, Inc. has a 52 week low of $61.51 and a 52 week high of $65.99.

ALLETE (NYSE:ALE - Get Free Report) last issued its earnings results on Tuesday, February 18th. The utilities provider reported $0.87 earnings per share for the quarter, missing analysts' consensus estimates of $1.02 by ($0.15). ALLETE had a return on equity of 5.97% and a net margin of 11.72%.

ALLETE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be given a $0.73 dividend. The ex-dividend date is Thursday, May 15th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 4.46%. ALLETE's dividend payout ratio (DPR) is currently 94.19%.

Analysts Set New Price Targets

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

About ALLETE

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.