ALLETE, Inc. (NYSE:ALE) Shares Sold by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC reduced its stake in ALLETE, Inc. (NYSE:ALE - Free Report) by 14.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 54,927 shares of the utilities provider's stock after selling 9,509 shares during the period. Schonfeld Strategic Advisors LLC owned approximately 0.09% of ALLETE worth $3,559,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of ALLETE by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 6,365,190 shares of the utilities provider's stock valued at $412,464,000 after acquiring an additional 20,624 shares during the period. Highbridge Capital Management LLC acquired a new stake in ALLETE in the 4th quarter valued at approximately $54,592,000. Charles Schwab Investment Management Inc. increased its holdings in ALLETE by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 786,588 shares of the utilities provider's stock valued at $50,971,000 after purchasing an additional 20,245 shares during the last quarter. Northern Trust Corp raised its position in ALLETE by 14.1% in the fourth quarter. Northern Trust Corp now owns 758,828 shares of the utilities provider's stock valued at $49,172,000 after purchasing an additional 93,810 shares during the period. Finally, Neuberger Berman Group LLC lifted its stake in ALLETE by 8.3% during the fourth quarter. Neuberger Berman Group LLC now owns 398,673 shares of the utilities provider's stock worth $25,825,000 after purchasing an additional 30,479 shares in the last quarter. Institutional investors and hedge funds own 76.55% of the company's stock.

Wall Street Analysts Forecast Growth

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

ALLETE Stock Up 0.0 %

Shares of ALE traded up $0.01 during mid-day trading on Wednesday, hitting $65.50. 288,061 shares of the company's stock were exchanged, compared to its average volume of 362,370. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.69 and a current ratio of 1.08. The company has a market cap of $3.80 billion, a price-to-earnings ratio of 21.13 and a beta of 0.82. The stock's 50-day moving average is $65.25 and its 200-day moving average is $65.07. ALLETE, Inc. has a fifty-two week low of $61.51 and a fifty-two week high of $66.06.

ALLETE (NYSE:ALE - Get Free Report) last issued 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 business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th will be given a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date of this dividend is Thursday, May 15th. ALLETE's dividend payout ratio is currently 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.