ALLETE, Inc. (NYSE:ALE) Shares Sold by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. lessened its stake in ALLETE, Inc. (NYSE:ALE - Free Report) by 30.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 764,288 shares of the utilities provider's stock after selling 337,500 shares during the period. Adage Capital Partners GP L.L.C. owned 1.32% of ALLETE worth $49,526,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd purchased a new position in shares of ALLETE during the 4th quarter worth approximately $380,000. HighTower Advisors LLC raised its holdings in ALLETE by 15.7% during the fourth quarter. HighTower Advisors LLC now owns 6,311 shares of the utilities provider's stock worth $409,000 after purchasing an additional 855 shares during the last quarter. JPMorgan Chase & Co. grew its stake in ALLETE by 16.5% in the 4th quarter. JPMorgan Chase & Co. now owns 352,124 shares of the utilities provider's stock valued at $22,818,000 after acquiring an additional 49,993 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. purchased a new position in shares of ALLETE during the 4th quarter worth approximately $5,378,000. Finally, Resona Asset Management Co. Ltd. acquired a new stake in shares of ALLETE during the fourth quarter valued at $671,000. Hedge funds and other institutional investors own 76.55% of the company's stock.

ALLETE Trading Up 0.1 %

ALE stock traded up $0.06 during trading on Monday, reaching $65.25. 160,285 shares of the stock traded hands, compared to its average volume of 377,203. The business's 50 day moving average price is $65.27 and its 200-day moving average price is $65.03. The firm has a market capitalization of $3.78 billion, a PE ratio of 21.05 and a beta of 0.69. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.08 and a quick ratio of 0.69. ALLETE, Inc. has a 52-week low of $59.00 and a 52-week high of $65.99.

ALLETE (NYSE:ALE - Get Free Report) last posted 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th will be given a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 4.48%. The ex-dividend date is Thursday, May 15th. ALLETE's dividend payout ratio (DPR) is 94.19%.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on ALLETE in a research report on Friday, January 10th. They issued a "hold" rating for the company.

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.