Susquehanna Fundamental Investments LLC Takes Position in ALLETE, Inc. (NYSE:ALE)

Susquehanna Fundamental Investments LLC acquired a new position in ALLETE, Inc. (NYSE:ALE - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 28,561 shares of the utilities provider's stock, valued at approximately $1,851,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Integrated Wealth Concepts LLC raised its holdings in shares of ALLETE by 20.0% in the 4th quarter. Integrated Wealth Concepts LLC now owns 55,756 shares of the utilities provider's stock valued at $3,613,000 after acquiring an additional 9,276 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in ALLETE by 11.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 41,132 shares of the utilities provider's stock valued at $2,666,000 after purchasing an additional 4,069 shares during the last quarter. Dark Forest Capital Management LP bought a new position in ALLETE in the fourth quarter worth about $280,000. Hsbc Holdings PLC boosted its holdings in shares of ALLETE by 2.4% in the 4th quarter. Hsbc Holdings PLC now owns 255,143 shares of the utilities provider's stock valued at $16,495,000 after buying an additional 5,948 shares in the last quarter. Finally, MetLife Investment Management LLC increased its position in shares of ALLETE by 6.9% during the fourth quarter. MetLife Investment Management LLC now owns 66,592 shares of the utilities provider's stock worth $4,315,000 after purchasing an additional 4,284 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 research note on Friday, January 10th. They issued a "hold" rating on the stock.

ALLETE Trading Up 0.0 %

Shares of ALE traded up $0.01 during midday trading on Tuesday, reaching $65.50. The company had a trading volume of 25,724 shares, compared to its average volume of 374,108. The firm has a 50 day simple moving average of $65.25 and a 200-day simple moving average of $65.07. The stock has a market cap of $3.80 billion, a PE ratio of 21.13 and a beta of 0.82. The company has a quick ratio of 0.69, a current ratio of 1.08 and a debt-to-equity ratio of 0.50. ALLETE, Inc. has a 1-year low of $61.51 and a 1-year high of $65.99.

ALLETE (NYSE:ALE - Get Free Report) last released 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 return on equity of 5.97% and a net margin of 11.72%.

ALLETE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.73 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $2.92 dividend on an annualized basis and a yield of 4.46%. ALLETE's dividend payout ratio (DPR) is presently 94.19%.

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.