28,561 Shares in ALLETE, Inc. (NYSE:ALE) Acquired by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC bought a new position in ALLETE, Inc. (NYSE:ALE - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 28,561 shares of the utilities provider's stock, valued at approximately $1,851,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Jones Financial Companies Lllp grew its stake in shares of ALLETE by 30.9% in the fourth quarter. Jones Financial Companies Lllp now owns 729 shares of the utilities provider's stock worth $47,000 after purchasing an additional 172 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of ALLETE by 32.9% during the fourth quarter. Fifth Third Bancorp now owns 876 shares of the utilities provider's stock valued at $57,000 after acquiring an additional 217 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in ALLETE by 2.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 11,786 shares of the utilities provider's stock valued at $764,000 after acquiring an additional 295 shares in the last quarter. Xponance Inc. increased its position in ALLETE by 4.5% during the 4th quarter. Xponance Inc. now owns 8,198 shares of the utilities provider's stock valued at $531,000 after purchasing an additional 356 shares during the period. Finally, QRG Capital Management Inc. raised its holdings in ALLETE by 6.7% in the 4th quarter. QRG Capital Management Inc. now owns 9,401 shares of the utilities provider's stock worth $609,000 after purchasing an additional 591 shares in the last quarter. Hedge funds and other institutional investors own 76.55% of the company's stock.

ALLETE Stock Up 0.4 %

Shares of NYSE:ALE traded up $0.24 during midday trading on Friday, reaching $65.49. The company's stock had a trading volume of 454,416 shares, compared to its average volume of 375,869. 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 50 day moving average of $65.25 and a 200-day moving average of $65.06. The firm has a market capitalization of $3.80 billion, a P/E ratio of 21.13 and a beta of 0.69. ALLETE, Inc. has a 12-month low of $61.51 and a 12-month high of $65.99.

ALLETE (NYSE:ALE - Get Free Report) last released its earnings results on Tuesday, February 18th. The utilities provider reported $0.87 earnings per share (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 company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 4.46%. The ex-dividend date is Thursday, May 15th. ALLETE's dividend payout ratio (DPR) is 94.19%.

Analyst Ratings Changes

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

About ALLETE

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.