Stifel Financial Corp Has $342,000 Holdings in ALLETE, Inc. (NYSE:ALE)

Stifel Financial Corp lessened its stake in ALLETE, Inc. (NYSE:ALE - Free Report) by 61.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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.

Several other institutional investors and hedge funds also recently made changes to their positions in ALE. Barclays PLC boosted its holdings in ALLETE by 187.1% during the third 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 during the last quarter. Franklin Resources Inc. boosted 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. Hennion & Walsh Asset Management Inc. boosted its holdings in ALLETE by 6.7% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 20,197 shares of the utilities provider's stock worth $1,309,000 after purchasing an additional 1,269 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in ALLETE by 2.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 11,786 shares of the utilities provider's stock worth $764,000 after purchasing an additional 295 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in ALLETE by 32.9% during the fourth quarter. Fifth Third Bancorp now owns 876 shares of the utilities provider's stock worth $57,000 after acquiring an additional 217 shares in the last quarter. Institutional investors and hedge funds own 76.55% of the company's stock.

ALLETE Stock Performance

NYSE ALE opened at $65.71 on Wednesday. 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 firm's fifty day moving average price is $65.26 and its two-hundred day moving average price is $65.12. ALLETE, Inc. has a 1 year low of $61.51 and a 1 year high of $65.99. The firm has a market capitalization of $3.81 billion, a P/E ratio of 21.20 and a beta of 0.82.

ALLETE (NYSE:ALE - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.01. ALLETE had a net margin of 11.72% and a return on equity of 5.97%. The firm had revenue of $400.20 million for the quarter, compared to analyst estimates of $456.30 million. During the same period in the prior 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 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 $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 4.44%. The ex-dividend date of this dividend is Thursday, May 15th. ALLETE's payout ratio is presently 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.

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