Polar Asset Management Partners Inc. Sells 20,000 Shares of ALLETE, Inc. (NYSE:ALE)

Polar Asset Management Partners Inc. decreased its holdings in ALLETE, Inc. (NYSE:ALE - Free Report) by 25.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,000 shares of the utilities provider's stock after selling 20,000 shares during the period. Polar Asset Management Partners Inc. owned 0.10% of ALLETE worth $3,888,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. ProShare Advisors LLC lifted its holdings in shares of ALLETE by 12.2% in the 4th quarter. ProShare Advisors LLC now owns 142,332 shares of the utilities provider's stock valued at $9,223,000 after acquiring an additional 15,456 shares during the last quarter. Quantinno Capital Management LP bought a new position in shares of ALLETE in the 4th quarter valued at about $267,000. Nomura Holdings Inc. bought a new position in shares of ALLETE in the 4th quarter valued at about $496,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of ALLETE by 11.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,406 shares of the utilities provider's stock valued at $2,813,000 after acquiring an additional 4,496 shares during the last quarter. Finally, Moore Capital Management LP lifted its holdings in shares of ALLETE by 13.6% in the 4th quarter. Moore Capital Management LP now owns 25,000 shares of the utilities provider's stock valued at $1,620,000 after acquiring an additional 3,000 shares during the last quarter. Institutional investors own 76.55% of the company's stock.

ALLETE Trading Down 0.2%

Shares of NYSE:ALE traded down $0.12 during trading on Wednesday, reaching $65.11. The company's stock had a trading volume of 42,790 shares, compared to its average volume of 343,186. The company has a current ratio of 1.08, a quick ratio of 0.69 and a debt-to-equity ratio of 0.50. ALLETE, Inc. has a 12 month low of $61.51 and a 12 month high of $65.99. The firm's 50 day simple moving average is $65.25 and its two-hundred day simple moving average is $65.16. The stock has a market capitalization of $3.78 billion, a PE ratio of 21.00 and a beta of 0.82.

ALLETE (NYSE:ALE - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The utilities provider reported $1.01 earnings per share for the quarter, hitting 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 net margin of 11.72% and a return on equity of 5.97%. The firm's revenue for the quarter was down .8% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 EPS.

ALLETE Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date is Thursday, May 15th. ALLETE's dividend payout ratio (DPR) is presently 91.54%.

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.