Schonfeld Strategic Advisors LLC Cuts Stake in ALLETE, Inc. (NYSE:ALE)

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

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

Wall Street Analyst Weigh In

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

ALLETE Stock Performance

Shares of ALE stock remained flat at $65.49 during trading hours on Friday. 97,535 shares of the stock were exchanged, compared to its average volume of 352,582. The company has a current ratio of 1.08, a quick ratio of 0.69 and a debt-to-equity ratio of 0.50. The business has a 50 day moving average of $65.25 and a two-hundred day moving average of $65.08. ALLETE, Inc. has a 52-week low of $61.51 and a 52-week high of $65.99. The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of 21.13 and a beta of 0.82.

ALLETE (NYSE:ALE - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.01. ALLETE had a return on equity of 5.97% and a net margin of 11.72%. The firm had revenue of $400.20 million for the quarter, compared to the consensus estimate of $456.30 million. During the same period last year, the business posted $0.90 EPS. The company's revenue for the quarter was down .8% on a year-over-year basis.

ALLETE Dividend Announcement

The business 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 dividend of $0.73 per share. 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 payout ratio is currently 94.19%.

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.