Price T Rowe Associates Inc. MD Boosts Stock Holdings in ALLETE, Inc. (NYSE:ALE)

Price T Rowe Associates Inc. MD increased its holdings in shares of ALLETE, Inc. (NYSE:ALE - Free Report) by 11.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,132 shares of the utilities provider's stock after buying an additional 4,069 shares during the period. Price T Rowe Associates Inc. MD owned about 0.07% of ALLETE worth $2,666,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Barclays PLC raised 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 during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of ALLETE during the 3rd quarter valued at approximately $282,000. Franklin Resources Inc. raised 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 raised its stake in shares of ALLETE by 13.5% during the 4th quarter. CWA Asset Management Group LLC now owns 19,613 shares of the utilities provider's stock worth $1,271,000 after buying an additional 2,339 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in shares of ALLETE by 6.7% in 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 purchasing an additional 1,269 shares in the last quarter. Hedge funds and other institutional investors own 76.55% of the company's stock.

ALLETE Price Performance

NYSE:ALE traded up $0.08 during trading hours on Monday, reaching $65.53. 68,566 shares of the company traded hands, compared to its average volume of 347,175. ALLETE, Inc. has a 1-year low of $61.51 and a 1-year high of $65.99. The stock has a market cap of $3.80 billion, a P/E ratio of 21.14 and a beta of 0.82. The firm's 50-day moving average is $65.25 and its 200-day moving average is $65.10. 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 issued its quarterly earnings results on Thursday, May 8th. The utilities provider reported $1.01 EPS for the quarter, hitting analysts' consensus estimates of $1.01. ALLETE had a net margin of 11.72% and a return on equity of 5.97%. The business had revenue of $400.20 million during the quarter, compared to the consensus estimate of $456.30 million. During the same period in the previous year, the firm posted $0.90 earnings per share. The company's quarterly revenue was down .8% compared to the same quarter last year.

ALLETE Announces Dividend

The firm 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 $0.73 dividend. The ex-dividend date is Thursday, May 15th. This represents a $2.92 annualized dividend and a yield of 4.46%. ALLETE's payout ratio is currently 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.