ALLETE, Inc. (NYSE:ALE) Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC grew its holdings in shares of ALLETE, Inc. (NYSE:ALE - Free Report) by 2.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 255,143 shares of the utilities provider's stock after acquiring an additional 5,948 shares during the quarter. Hsbc Holdings PLC owned about 0.44% of ALLETE worth $16,495,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. MetLife Investment Management LLC lifted its holdings in ALLETE by 6.9% in the fourth quarter. MetLife Investment Management LLC now owns 66,592 shares of the utilities provider's stock worth $4,315,000 after purchasing an additional 4,284 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. lifted its stake in shares of ALLETE by 4.3% in the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 205,500 shares of the utilities provider's stock worth $13,316,000 after acquiring an additional 8,450 shares during the period. Gamco Investors INC. ET AL boosted its holdings in shares of ALLETE by 23.0% in the fourth quarter. Gamco Investors INC. ET AL now owns 54,753 shares of the utilities provider's stock valued at $3,548,000 after acquiring an additional 10,225 shares in the last quarter. Walleye Capital LLC acquired a new position in shares of ALLETE during the fourth quarter valued at approximately $212,000. Finally, Mariner LLC raised its holdings in ALLETE by 28.2% during the fourth quarter. Mariner LLC now owns 12,256 shares of the utilities provider's stock worth $794,000 after purchasing an additional 2,697 shares in the last quarter. Institutional investors own 76.55% of the company's stock.

ALLETE Stock Performance

NYSE:ALE opened at $65.18 on Friday. The company has a 50-day moving average of $65.27 and a 200-day moving average of $65.02. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of 21.03 and a beta of 0.69. 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, Inc. has a twelve month low of $59.00 and a twelve month 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.15). ALLETE had a return on equity of 5.97% and a net margin of 11.72%.

ALLETE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 4.48%. ALLETE's dividend payout ratio is 94.19%.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on ALLETE in a research 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.

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