Cwm LLC Increases Stock Holdings in ALLETE, Inc. (NYSE:ALE)

Cwm LLC boosted its stake in shares of ALLETE, Inc. (NYSE:ALE) by 13.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,352 shares of the utilities provider’s stock after buying an additional 525 shares during the period. Cwm LLC’s holdings in ALLETE were worth $279,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in shares of ALLETE by 3.6% in the fourth quarter. Wellington Management Group LLP now owns 86,053 shares of the utilities provider’s stock valued at $5,263,000 after acquiring an additional 3,015 shares during the period. Vanguard Group Inc. raised its position in ALLETE by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 6,579,504 shares of the utilities provider’s stock worth $402,402,000 after purchasing an additional 176,709 shares during the period. Hennion & Walsh Asset Management Inc. lifted its stake in ALLETE by 36.0% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 19,063 shares of the utilities provider’s stock worth $1,137,000 after purchasing an additional 5,045 shares during the last quarter. AlphaMark Advisors LLC purchased a new position in shares of ALLETE during the first quarter valued at approximately $297,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of ALLETE by 157.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 8,993 shares of the utilities provider’s stock valued at $536,000 after buying an additional 5,502 shares during the last quarter. 76.55% of the stock is currently owned by institutional investors.

ALLETE Stock Down 0.0 %

Shares of NYSE ALE opened at $64.37 on Tuesday. ALLETE, Inc. has a 52-week low of $52.14 and a 52-week high of $65.86. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of 15.47 and a beta of 0.80. The stock has a 50 day moving average price of $63.87 and a 200 day moving average price of $62.88. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.83 and a current ratio of 1.45.

ALLETE (NYSE:ALE) last issued its earnings results on Thursday, August 1st. The utilities provider reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.30). The firm had revenue of $354.50 million during the quarter, compared to analysts’ expectations of $547.24 million. ALLETE had a return on equity of 7.07% and a net margin of 14.36%. ALLETE’s quarterly revenue was down 33.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.90 earnings per share.

ALLETE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were issued a dividend of $0.7005 per share. This represents a $2.80 annualized dividend and a yield of 4.35%. The ex-dividend date was Thursday, August 15th. ALLETE’s payout ratio is 67.79%.

Analyst Upgrades and Downgrades

ALE has been the subject of a number of research analyst reports. Sidoti raised ALLETE from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. StockNews.com initiated coverage on ALLETE in a research report on Tuesday. They set a “hold” rating for the company. Four investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $62.00.

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.