Charles Schwab Investment Management Inc. Has $50.97 Million Holdings in ALLETE, Inc. (NYSE:ALE)

Charles Schwab Investment Management Inc. boosted its holdings in shares of ALLETE, Inc. (NYSE:ALE - Free Report) by 2.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 786,588 shares of the utilities provider's stock after purchasing an additional 20,245 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.36% of ALLETE worth $50,971,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Glazer Capital LLC acquired a new stake in shares of ALLETE during the 3rd quarter valued at $5,766,000. Tokio Marine Asset Management Co. Ltd. purchased a new stake in shares of ALLETE during the fourth quarter valued at $5,378,000. Barclays PLC boosted its position in shares of ALLETE by 187.1% in the 3rd quarter. Barclays PLC now owns 100,079 shares of the utilities provider's stock valued at $6,425,000 after purchasing an additional 65,222 shares during the period. Jane Street Group LLC increased its stake in ALLETE by 107.8% in the 3rd quarter. Jane Street Group LLC now owns 121,631 shares of the utilities provider's stock worth $7,807,000 after purchasing an additional 63,091 shares in the last quarter. Finally, ABC Arbitrage SA acquired a new stake in ALLETE during the 4th quarter worth about $3,201,000. 76.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Remove Ads

ALLETE Stock Down 0.4 %

ALLETE stock traded down $0.25 during trading hours on Monday, hitting $65.39. The company had a trading volume of 241,023 shares, compared to its average volume of 346,183. The firm's fifty day moving average is $65.49 and its 200-day moving average is $64.75. The firm has a market capitalization of $3.79 billion, a P/E ratio of 21.09 and a beta of 0.74. 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.

ALLETE (NYSE:ALE - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.87 EPS 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 business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Friday, February 14th were issued a dividend of $0.73 per share. This is a positive change from ALLETE's previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 4.47%. ALLETE's dividend payout ratio is currently 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.