Natixis Advisors LLC Has $792,000 Stake in ALLETE, Inc. (NYSE:ALE)

Natixis Advisors LLC trimmed its position in shares of ALLETE, Inc. (NYSE:ALE) by 9.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,336 shares of the utilities provider’s stock after selling 1,286 shares during the period. Natixis Advisors LLC’s holdings in ALLETE were worth $792,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of ALE. Lazard Asset Management LLC grew its stake in ALLETE by 4,157.1% during the first quarter. Lazard Asset Management LLC now owns 1,192 shares of the utilities provider’s stock worth $71,000 after buying an additional 1,164 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in ALLETE by 9.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 80,559 shares of the utilities provider’s stock worth $4,806,000 after buying an additional 6,695 shares in the last quarter. Comerica Bank grew its stake in ALLETE by 29.3% during the first quarter. Comerica Bank now owns 32,826 shares of the utilities provider’s stock worth $1,958,000 after buying an additional 7,446 shares in the last quarter. Boston Partners grew its stake in ALLETE by 59.2% during the first quarter. Boston Partners now owns 30,441 shares of the utilities provider’s stock worth $1,816,000 after buying an additional 11,321 shares in the last quarter. Finally, CWM LLC grew its stake in ALLETE by 12.3% during the second quarter. CWM LLC now owns 3,827 shares of the utilities provider’s stock worth $239,000 after buying an additional 420 shares in the last quarter. 76.55% of the stock is currently owned by institutional investors and hedge funds.

ALLETE Trading Down 0.0 %

ALE opened at $64.87 on Thursday. The company’s 50 day moving average is $64.35 and its 200-day moving average is $63.70. ALLETE, Inc. has a 1-year low of $54.90 and a 1-year high of $65.86. The company has a current ratio of 1.45, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. The company has a market cap of $3.75 billion, a P/E ratio of 20.79 and a beta of 0.80.

ALLETE (NYSE:ALE) last posted its quarterly earnings results on Wednesday, October 30th. The utilities provider reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.21). ALLETE had a net margin of 11.49% and a return on equity of 5.99%. The company had revenue of $407.20 million during the quarter. During the same quarter in the prior year, the firm posted $1.49 EPS. The company’s quarterly revenue was up 7.5% compared to the same quarter last year.

ALLETE Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be given a dividend of $0.705 per share. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from ALLETE’s previous quarterly dividend of $0.70. This represents a $2.82 annualized dividend and a yield of 4.35%. ALLETE’s dividend payout ratio (DPR) is currently 90.38%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Sidoti upgraded shares of ALLETE from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. StockNews.com started coverage on shares of ALLETE in a research note on Saturday, November 23rd. They issued a “hold” rating on the stock. Four investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, ALLETE currently has a consensus rating of “Hold” and a consensus price target of $62.00.

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.