4,810 Shares in ALLETE, Inc. (NYSE:ALE) Acquired by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd bought a new position in ALLETE, Inc. (NYSE:ALE - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,810 shares of the utilities provider's stock, valued at approximately $311,000.

Other institutional investors have also recently modified their holdings of the company. Resona Asset Management Co. Ltd. purchased a new stake in ALLETE during the 4th quarter valued at about $671,000. Meeder Advisory Services Inc. lifted its stake in shares of ALLETE by 198.2% in the fourth quarter. Meeder Advisory Services Inc. now owns 9,611 shares of the utilities provider's stock worth $623,000 after buying an additional 6,388 shares in the last quarter. Trexquant Investment LP bought a new stake in shares of ALLETE during the fourth quarter valued at approximately $327,000. Headlands Technologies LLC bought a new stake in shares of ALLETE during the fourth quarter valued at approximately $73,000. Finally, Alliancebernstein L.P. raised its holdings in ALLETE by 3.5% in the 4th quarter. Alliancebernstein L.P. now owns 368,115 shares of the utilities provider's stock worth $23,854,000 after acquiring an additional 12,353 shares during the last quarter. 76.55% of the stock is owned by hedge funds and other institutional investors.

ALLETE Stock Performance

ALE traded down $0.03 during midday trading on Tuesday, hitting $65.04. 35,547 shares of the company traded hands, compared to its average volume of 372,355. The company's 50-day moving average is $65.39 and its 200 day moving average is $64.98. The company has a quick ratio of 0.69, a current ratio of 1.08 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $3.77 billion, a PE ratio of 20.97 and a beta of 0.69. ALLETE, Inc. has a 52 week low of $56.66 and a 52 week high of $65.99.

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ALLETE (NYSE:ALE - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.87 earnings per share for the quarter, missing analysts' consensus estimates 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 company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Friday, February 14th were issued a $0.73 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.92 annualized dividend and a dividend yield of 4.49%. This is a positive change from ALLETE's previous quarterly dividend of $0.71. ALLETE's payout ratio is presently 94.19%.

Analysts Set New Price Targets

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

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.