KBC Group NV Raises Stock Holdings in ALLETE, Inc. (NYSE:ALE)

KBC Group NV lifted its holdings in ALLETE, Inc. (NYSE:ALE) by 61.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,431 shares of the utilities provider’s stock after purchasing an additional 928 shares during the quarter. KBC Group NV’s holdings in ALLETE were worth $158,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ALE. Longfellow Investment Management Co. LLC bought a new stake in shares of ALLETE in the 3rd quarter worth about $38,000. Fifth Third Bancorp increased its stake 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 during the last quarter. UMB Bank n.a. raised its position in ALLETE by 261.0% during the third quarter. UMB Bank n.a. now owns 1,083 shares of the utilities provider’s stock valued at $70,000 after purchasing an additional 783 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of ALLETE by 31.0% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,563 shares of the utilities provider’s stock valued at $100,000 after purchasing an additional 370 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its holdings in shares of ALLETE by 14.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 3,135 shares of the utilities provider’s stock worth $201,000 after purchasing an additional 405 shares during the period. Institutional investors own 76.55% of the company’s stock.

ALLETE Price Performance

ALE stock opened at $65.62 on Thursday. The company has a current ratio of 1.45, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. ALLETE, Inc. has a 12 month low of $55.86 and a 12 month high of $65.95. The stock has a market cap of $3.79 billion, a PE ratio of 21.03 and a beta of 0.80. The company has a 50-day moving average price of $65.05 and a 200 day moving average price of $64.45.

ALLETE Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be paid a dividend of $0.73 per share. This is a boost from ALLETE’s previous quarterly dividend of $0.71. The ex-dividend date is Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 4.45%. ALLETE’s dividend payout ratio is currently 90.38%.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on ALLETE in a report on Friday, January 10th. They set a “hold” rating on the stock.

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.