Commonwealth of Pennsylvania Public School Empls Retrmt SYS Boosts Stock Holdings in ALLETE, Inc. (NYSE:ALE)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of ALLETE, Inc. (NYSE:ALE - Free Report) by 54.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 169,707 shares of the utilities provider's stock after purchasing an additional 59,891 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned approximately 0.29% of ALLETE worth $10,997,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Longfellow Investment Management Co. LLC purchased a new position in shares of ALLETE in the third quarter valued at approximately $38,000. Jones Financial Companies Lllp boosted its position in 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 during the period. Fifth Third Bancorp grew its stake in shares of ALLETE by 32.9% in the fourth quarter. Fifth Third Bancorp now owns 876 shares of the utilities provider's stock worth $57,000 after acquiring an additional 217 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its position in shares of ALLETE by 31.0% during the third 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 during the period. Finally, KBC Group NV raised its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 76.55% of the company's stock.

Remove Ads

ALLETE Stock Up 0.2 %

ALE stock traded up $0.12 during midday trading on Wednesday, reaching $65.57. 236,946 shares of the company were exchanged, compared to its average volume of 346,542. The company has a market cap of $3.80 billion, a price-to-earnings ratio of 21.15 and a beta of 0.74. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.69 and a current ratio of 1.08. ALLETE, Inc. has a 1-year low of $56.66 and a 1-year high of $65.99. The stock's 50-day simple moving average is $65.55 and its 200 day simple moving average is $64.86.

ALLETE (NYSE:ALE - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.87 earnings per share for the quarter, missing analysts' consensus estimates 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 firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Friday, February 14th were paid a dividend of $0.73 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a yield of 4.45%. This is a boost from ALLETE's previous quarterly dividend of $0.71. ALLETE's dividend payout ratio is currently 94.19%.

Wall Street Analyst Weigh In

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

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.