ALLETE, Inc. (NYSE:ALE) Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC lifted its holdings in shares of ALLETE, Inc. (NYSE:ALE) by 198.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 29,185 shares of the utilities provider’s stock after acquiring an additional 19,422 shares during the period. Intech Investment Management LLC’s holdings in ALLETE were worth $1,891,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ALE. Longfellow Investment Management Co. LLC acquired a new position in ALLETE in the third quarter valued at approximately $38,000. Jones Financial Companies Lllp boosted its holdings in shares of ALLETE by 30.9% in the 4th quarter. Jones Financial Companies Lllp now owns 729 shares of the utilities provider’s stock valued at $47,000 after buying an additional 172 shares in the last quarter. Fifth Third Bancorp grew its position in shares of ALLETE by 32.9% in the 4th quarter. Fifth Third Bancorp now owns 876 shares of the utilities provider’s stock valued at $57,000 after buying an additional 217 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. raised its stake in ALLETE by 31.0% during 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. Finally, KBC Group NV lifted its position in ALLETE by 61.7% in the fourth quarter. KBC Group NV now owns 2,431 shares of the utilities provider’s stock valued at $158,000 after acquiring an additional 928 shares during the last quarter. Institutional investors and hedge funds own 76.55% of the company’s stock.

ALLETE Price Performance

Shares of NYSE ALE opened at $65.73 on Friday. The stock has a market cap of $3.81 billion, a P/E ratio of 21.20 and a beta of 0.74. ALLETE, Inc. has a twelve month low of $56.66 and a twelve month high of $65.99. The stock has a 50 day moving average of $65.53 and a two-hundred day moving average of $64.79. The company has a current ratio of 1.08, a quick ratio of 0.69 and a debt-to-equity ratio of 0.50.

ALLETE (NYSE:ALE) 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 net margin of 11.72% and a return on equity of 5.97%.

ALLETE Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Friday, February 14th were issued a dividend of $0.73 per share. The ex-dividend date was Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 4.44%. This is a positive change from ALLETE’s previous quarterly dividend of $0.71. ALLETE’s dividend payout ratio (DPR) is currently 94.19%.

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.

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.