Inspire Investing LLC Sells 4,919 Shares of ALLETE, Inc. (NYSE:ALE)

Inspire Investing LLC trimmed its position in ALLETE, Inc. (NYSE:ALE - Free Report) by 44.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,265 shares of the utilities provider's stock after selling 4,919 shares during the period. Inspire Investing LLC's holdings in ALLETE were worth $406,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ALE. D.A. Davidson & CO. grew its position in shares of ALLETE by 1.9% in the 3rd quarter. D.A. Davidson & CO. now owns 16,844 shares of the utilities provider's stock valued at $1,081,000 after acquiring an additional 315 shares during the period. Hennion & Walsh Asset Management Inc. grew its holdings in ALLETE by 1.8% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 18,928 shares of the utilities provider's stock worth $1,215,000 after purchasing an additional 327 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its position in ALLETE by 31.0% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,563 shares of the utilities provider's stock worth $100,000 after buying an additional 370 shares during the last quarter. Meeder Asset Management Inc. increased its position in ALLETE by 14.8% during the third quarter. Meeder Asset Management Inc. now owns 3,135 shares of the utilities provider's stock worth $201,000 after buying an additional 405 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its stake in ALLETE by 6.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 7,102 shares of the utilities provider's stock valued at $443,000 after buying an additional 447 shares during the period. 76.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ALE shares. StockNews.com started coverage on ALLETE in a report on Friday, January 10th. They set a "hold" rating on the stock. Sidoti upgraded shares of ALLETE from a "hold" rating to a "strong-buy" rating in a report on Monday, September 30th.

ALLETE Price Performance

ALE traded down $0.12 during trading on Friday, hitting $65.58. 322,559 shares of the stock traded hands, compared to its average volume of 342,076. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.45 and a quick ratio of 0.95. ALLETE, Inc. has a twelve month low of $55.86 and a twelve month high of $65.95. The company has a market cap of $3.79 billion, a price-to-earnings ratio of 21.02 and a beta of 0.80. The business has a 50 day moving average price of $64.91 and a 200 day moving average price of $64.34.

ALLETE (NYSE:ALE - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The utilities provider reported $0.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.99 by ($0.21). The business had revenue of $407.20 million during the quarter. ALLETE had a net margin of 11.49% and a return on equity of 5.99%. ALLETE's revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.49 EPS.

ALLETE 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.