ALLETE, Inc. (NYSE:ALE) Shares Sold by Stifel Financial Corp

Stifel Financial Corp cut its stake in ALLETE, Inc. (NYSE:ALE - Free Report) by 61.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,277 shares of the utilities provider's stock after selling 8,440 shares during the quarter. Stifel Financial Corp's holdings in ALLETE were worth $342,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Highbridge Capital Management LLC purchased a new position in ALLETE in the 4th quarter worth approximately $54,592,000. Tokio Marine Asset Management Co. Ltd. purchased a new position in ALLETE in the 4th quarter worth approximately $5,378,000. Barclays PLC lifted its stake in ALLETE by 187.1% in the 3rd quarter. Barclays PLC now owns 100,079 shares of the utilities provider's stock worth $6,425,000 after purchasing an additional 65,222 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in ALLETE by 54.5% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 169,707 shares of the utilities provider's stock worth $10,997,000 after purchasing an additional 59,891 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in ALLETE in the 4th quarter worth approximately $3,522,000. 76.55% of the stock is owned by hedge funds and other institutional investors.

ALLETE Price Performance

ALE traded down $0.02 during trading on Monday, reaching $65.11. The company's stock had a trading volume of 195,391 shares, compared to its average volume of 345,012. The company has a quick ratio of 0.69, a current ratio of 1.08 and a debt-to-equity ratio of 0.50. The firm has a fifty day simple moving average of $65.26 and a two-hundred day simple moving average of $65.16. ALLETE, Inc. has a 1 year low of $61.51 and a 1 year high of $65.99. The company has a market cap of $3.78 billion, a price-to-earnings ratio of 21.00 and a beta of 0.82.

ALLETE (NYSE:ALE - Get Free Report) last released its earnings results on Thursday, May 8th. The utilities provider reported $1.01 earnings per share 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 for the quarter, compared to analyst estimates of $456.30 million. During the same period last year, the company posted $0.90 EPS. The business's revenue was down .8% on a year-over-year basis.

ALLETE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be issued 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 4.48%. ALLETE's dividend payout ratio is currently 91.54%.

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.