Boston Partners Has $1.81 Million Position in ALLETE, Inc. (NYSE:ALE)

Boston Partners trimmed its holdings in shares of ALLETE, Inc. (NYSE:ALE - Free Report) by 26.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 27,928 shares of the utilities provider's stock after selling 10,009 shares during the period. Boston Partners' holdings in ALLETE were worth $1,810,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of ALE. Longfellow Investment Management Co. LLC bought a new position in shares of ALLETE in the third quarter worth $38,000. Jones Financial Companies Lllp lifted its position in shares of 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 acquiring an additional 172 shares in the last quarter. Fifth Third Bancorp boosted its position 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 buying an additional 217 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of ALLETE by 31.0% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,563 shares of the utilities provider's stock valued at $100,000 after purchasing an additional 370 shares during the period. Finally, KBC Group NV lifted its position in ALLETE by 61.7% in the 4th quarter. KBC Group NV now owns 2,431 shares of the utilities provider's stock worth $158,000 after buying an additional 928 shares in the last quarter. Institutional investors and hedge funds own 76.55% of the company's stock.

Analysts Set New Price Targets

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

Remove Ads

ALLETE Trading Up 0.2 %

NYSE ALE traded up $0.12 on Wednesday, reaching $65.57. The company had a trading volume of 236,946 shares, compared to its average volume of 346,542. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of 21.15 and a beta of 0.74. The stock's 50 day moving average is $65.55 and its 200-day moving average is $64.86. The company has a quick ratio of 0.69, a current ratio of 1.08 and a debt-to-equity ratio of 0.50. 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 announced 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 firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Friday, February 14th were paid a $0.73 dividend. The ex-dividend date was Friday, February 14th. This is an increase from ALLETE's previous quarterly dividend of $0.71. This represents a $2.92 annualized dividend and a dividend yield of 4.45%. ALLETE's dividend payout ratio is 94.19%.

ALLETE Company 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.