Skandinaviska Enskilda Banken AB publ Increases Holdings in ALLETE, Inc. (NYSE:ALE)

Skandinaviska Enskilda Banken AB publ lifted its position in ALLETE, Inc. (NYSE:ALE - Free Report) by 12.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 46,672 shares of the utilities provider's stock after acquiring an additional 5,000 shares during the period. Skandinaviska Enskilda Banken AB publ owned 0.08% of ALLETE worth $3,016,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Swiss National Bank grew its holdings in shares of ALLETE by 0.7% during the fourth quarter. Swiss National Bank now owns 113,600 shares of the utilities provider's stock valued at $7,361,000 after buying an additional 800 shares during the last quarter. HighTower Advisors LLC increased its stake in shares of ALLETE by 15.7% in the 4th quarter. HighTower Advisors LLC now owns 6,311 shares of the utilities provider's stock worth $409,000 after purchasing an additional 855 shares in the last quarter. Inspire Advisors LLC lifted its position in shares of ALLETE by 16.8% during the 4th quarter. Inspire Advisors LLC now owns 34,267 shares of the utilities provider's stock valued at $2,220,000 after buying an additional 4,920 shares in the last quarter. Raymond James Financial Inc. purchased a new position in ALLETE during the fourth quarter valued at approximately $3,522,000. Finally, Proficio Capital Partners LLC purchased a new stake in ALLETE in the 4th quarter worth $1,465,000. Hedge funds and other institutional investors own 76.55% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of ALLETE in a report on Friday, January 10th. They issued a "hold" rating on the stock.

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ALLETE Stock Down 0.4 %

NYSE ALE traded down $0.25 during trading on Monday, reaching $65.39. 241,023 shares of the company's stock traded hands, compared to its average volume of 345,219. ALLETE, Inc. has a 12-month low of $56.66 and a 12-month high of $65.99. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.08 and a quick ratio of 0.69. The firm has a market cap of $3.79 billion, a price-to-earnings ratio of 21.09 and a beta of 0.74. The company's 50 day simple moving average is $65.50 and its two-hundred day simple moving average is $64.77.

ALLETE (NYSE:ALE - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.87 EPS for the quarter, missing analysts' consensus estimates of $1.02 by ($0.15). ALLETE had a return on equity of 5.97% and a net margin of 11.72%.

ALLETE Increases Dividend

The business 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. 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 4.47%. This is an increase 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.