Deroy & Devereaux Private Investment Counsel Inc. Has $19.66 Million Stock Position in ALLETE, Inc. (NYSE:ALE)

Deroy & Devereaux Private Investment Counsel Inc. cut its stake in ALLETE, Inc. (NYSE:ALE - Free Report) by 4.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 303,463 shares of the utilities provider's stock after selling 14,096 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. owned about 0.52% of ALLETE worth $19,664,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Glazer Capital LLC bought a new position in ALLETE during the 3rd quarter valued at approximately $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 increased its holdings in ALLETE by 187.1% in the 3rd quarter. Barclays PLC now owns 100,079 shares of the utilities provider's stock worth $6,425,000 after buying an additional 65,222 shares in the last quarter. Jane Street Group LLC lifted its stake in ALLETE by 107.8% during the 3rd quarter. Jane Street Group LLC now owns 121,631 shares of the utilities provider's stock valued at $7,807,000 after acquiring an additional 63,091 shares during the period. Finally, Verition Fund Management LLC raised its holdings in shares of ALLETE by 91.6% during the third quarter. Verition Fund Management LLC now owns 96,387 shares of the utilities provider's stock valued at $6,187,000 after purchasing an additional 46,089 shares during the last quarter. Hedge funds and other institutional investors own 76.55% of the company's stock.

ALLETE Trading Down 0.1 %

Shares of NYSE ALE traded down $0.05 during mid-day trading on Wednesday, reaching $65.64. The company had a trading volume of 213,370 shares, compared to its average volume of 410,392. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of 21.04 and a beta of 0.80. The business's 50-day moving average is $65.03 and its 200-day moving average is $64.45. ALLETE, Inc. has a 52 week low of $55.86 and a 52 week high of $65.95. The company has a current ratio of 1.45, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51.

ALLETE Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from ALLETE's previous quarterly dividend of $0.71. ALLETE's dividend payout ratio (DPR) is 90.38%.

Analysts Set New Price Targets

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

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.