DLD Asset Management LP Sells 5,521 Shares of ALLETE, Inc. (NYSE:ALE)

DLD Asset Management LP lessened its stake in ALLETE, Inc. (NYSE:ALE - Free Report) by 9.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 55,627 shares of the utilities provider's stock after selling 5,521 shares during the period. ALLETE comprises 0.4% of DLD Asset Management LP's portfolio, making the stock its 25th biggest holding. DLD Asset Management LP owned approximately 0.10% of ALLETE worth $3,605,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its holdings in shares of ALLETE by 30.9% during the 4th quarter. Jones Financial Companies Lllp now owns 729 shares of the utilities provider's stock worth $47,000 after acquiring an additional 172 shares during the period. Fifth Third Bancorp grew its stake in shares of ALLETE by 32.9% in the 4th quarter. Fifth Third Bancorp now owns 876 shares of the utilities provider's stock valued at $57,000 after purchasing an additional 217 shares during the period. Exchange Traded Concepts LLC raised its holdings in shares of ALLETE by 2.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 11,786 shares of the utilities provider's stock worth $764,000 after buying an additional 295 shares in the last quarter. Xponance Inc. lifted its position in shares of ALLETE by 4.5% during the 4th quarter. Xponance Inc. now owns 8,198 shares of the utilities provider's stock worth $531,000 after buying an additional 356 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. boosted its stake in 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 buying an additional 370 shares in the last quarter. 76.55% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

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

ALLETE Price Performance

Shares of ALE traded down $0.45 on Monday, hitting $64.79. The company's stock had a trading volume of 239,128 shares, compared to its average volume of 352,216. The company has a 50 day moving average price of $65.53 and a 200 day moving average price of $64.95. ALLETE, Inc. has a fifty-two week low of $56.66 and a fifty-two week high of $65.99. The company has a market capitalization of $3.76 billion, a PE ratio of 20.90 and a beta of 0.69. 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 posted 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. Shareholders of record on Friday, February 14th were given a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 4.51%. The ex-dividend date was Friday, February 14th. This is a boost from ALLETE's previous quarterly dividend of $0.71. ALLETE's dividend payout ratio (DPR) is presently 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.