ALLETE, Inc. (NYSE:ALE) Shares Purchased by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ boosted its stake in ALLETE, Inc. (NYSE:ALE - Free Report) by 12.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,672 shares of the utilities provider's stock after purchasing an additional 5,000 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned about 0.08% of ALLETE worth $3,016,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Quest Partners LLC grew its holdings in ALLETE by 249.1% in the third quarter. Quest Partners LLC now owns 34,367 shares of the utilities provider's stock valued at $2,206,000 after purchasing an additional 24,523 shares during the period. Charles Schwab Investment Management Inc. lifted its position in ALLETE by 1.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 766,343 shares of the utilities provider's stock valued at $49,192,000 after buying an additional 7,739 shares in the last quarter. Citigroup Inc. lifted its position in ALLETE by 28.3% during the third quarter. Citigroup Inc. now owns 129,635 shares of the utilities provider's stock valued at $8,321,000 after buying an additional 28,612 shares in the last quarter. Polar Asset Management Partners Inc. lifted its position in ALLETE by 100.0% during the third quarter. Polar Asset Management Partners Inc. now owns 80,000 shares of the utilities provider's stock valued at $5,135,000 after buying an additional 40,000 shares in the last quarter. Finally, State Street Corp lifted its position in ALLETE by 0.5% during the third quarter. State Street Corp now owns 2,459,692 shares of the utilities provider's stock valued at $157,888,000 after buying an additional 13,335 shares in the last quarter. 76.55% of the stock is currently owned by hedge funds and other institutional investors.

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ALLETE Trading Up 0.2 %

ALE stock traded up $0.12 during midday trading on Tuesday, reaching $65.53. 99,771 shares of the company's stock traded hands, compared to its average volume of 345,191. The business has a 50-day moving average price of $65.50 and a two-hundred day moving average price of $64.77. ALLETE, Inc. has a fifty-two week low of $56.66 and a fifty-two week 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 company has a market capitalization of $3.79 billion, a P/E ratio of 21.14 and a beta of 0.74.

ALLETE (NYSE:ALE - Get Free Report) last posted its earnings results 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 company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Friday, February 14th were given a dividend of $0.73 per share. This is a boost from ALLETE's previous quarterly dividend of $0.71. This represents a $2.92 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date of this dividend was Friday, February 14th. ALLETE's payout ratio is presently 94.19%.

Analysts Set New Price Targets

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

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.