Skandinaviska Enskilda Banken AB publ Purchases 5,000 Shares of ALLETE, Inc. (NYSE:ALE)

Skandinaviska Enskilda Banken AB publ boosted its stake in ALLETE, Inc. (NYSE:ALE - Free Report) by 12.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,672 shares of the utilities provider's stock after buying an additional 5,000 shares during the period. Skandinaviska Enskilda Banken AB publ owned 0.08% of ALLETE worth $3,016,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Longfellow Investment Management Co. LLC acquired a new stake in ALLETE in the 3rd quarter valued at about $38,000. Jones Financial Companies Lllp lifted its stake in ALLETE by 30.9% during the fourth 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 lifted its stake in ALLETE by 32.9% during the fourth quarter. Fifth Third Bancorp now owns 876 shares of the utilities provider's stock valued at $57,000 after buying an additional 217 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its stake in ALLETE by 31.0% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,563 shares of the utilities provider's stock valued at $100,000 after buying an additional 370 shares in the last quarter. Finally, KBC Group NV lifted its stake in ALLETE by 61.7% during the fourth quarter. KBC Group NV now owns 2,431 shares of the utilities provider's stock valued at $158,000 after buying an additional 928 shares in the last quarter. Institutional investors own 76.55% of the company's stock.

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Analyst Upgrades and Downgrades

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

ALLETE Trading Up 0.1 %

ALE stock traded up $0.06 during mid-day trading on Thursday, reaching $65.73. 177,277 shares of the stock traded hands, compared to its average volume of 345,040. The stock's fifty day moving average is $65.52 and its 200-day moving average is $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. The company 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 52-week low of $56.66 and a 52-week high of $65.99.

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

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.