ALLETE, Inc. (NYSE:ALE) Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp boosted its holdings in shares of ALLETE, Inc. (NYSE:ALE) by 32.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 876 shares of the utilities provider’s stock after purchasing an additional 217 shares during the quarter. Fifth Third Bancorp’s holdings in ALLETE were worth $57,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Longfellow Investment Management Co. LLC bought a new position in ALLETE during the 3rd quarter valued at $38,000. UMB Bank n.a. raised its stake 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 buying an additional 783 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position 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 worth $100,000 after acquiring an additional 370 shares in the last quarter. Meeder Asset Management Inc. raised its position in shares of ALLETE by 14.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 3,135 shares of the utilities provider’s stock valued at $201,000 after acquiring an additional 405 shares in the last quarter. Finally, Royce & Associates LP acquired a new position in ALLETE in the third quarter worth $202,000. 76.55% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of ALLETE in a report on Friday, January 10th. They issued a “hold” rating for the company.

ALLETE Trading Down 0.1 %

ALLETE stock opened at $65.59 on Monday. The firm has a 50-day moving average price of $65.00 and a two-hundred day moving average price of $64.42. ALLETE, Inc. has a 52-week low of $55.86 and a 52-week high of $65.95. The firm has a market capitalization of $3.79 billion, a price-to-earnings ratio of 21.02 and a beta of 0.80. The company has a quick ratio of 0.95, a current ratio of 1.45 and a debt-to-equity ratio of 0.51.

ALLETE Increases Dividend

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

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.