Intech Investment Management LLC Has $1.89 Million Stock Position in ALLETE, Inc. (NYSE:ALE)

Intech Investment Management LLC lifted its stake in shares of ALLETE, Inc. (NYSE:ALE - Free Report) by 198.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,185 shares of the utilities provider's stock after purchasing an additional 19,422 shares during the quarter. Intech Investment Management LLC owned about 0.05% of ALLETE worth $1,891,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Longfellow Investment Management Co. LLC bought a new stake in shares of ALLETE during the 3rd quarter worth about $38,000. Jones Financial Companies Lllp increased its stake in shares of ALLETE by 30.9% during the fourth quarter. Jones Financial Companies Lllp now owns 729 shares of the utilities provider's stock valued at $47,000 after acquiring an additional 172 shares during the period. Fifth Third Bancorp raised its holdings in ALLETE by 32.9% during the fourth quarter. Fifth Third Bancorp now owns 876 shares of the utilities provider's stock worth $57,000 after purchasing an additional 217 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its position in ALLETE by 31.0% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,563 shares of the utilities provider's stock worth $100,000 after purchasing an additional 370 shares during the period. Finally, KBC Group NV lifted its position in ALLETE by 61.7% in the fourth quarter. KBC Group NV now owns 2,431 shares of the utilities provider's stock worth $158,000 after purchasing an additional 928 shares during the period. Institutional investors and hedge funds own 76.55% of the company's stock.

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Wall Street Analysts Forecast Growth

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

ALLETE Price Performance

NYSE ALE traded down $0.25 on Tuesday, reaching $65.47. The company's stock had a trading volume of 432,057 shares, compared to its average volume of 346,054. ALLETE, Inc. has a twelve month low of $56.66 and a twelve month high of $65.99. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.69 and a current ratio of 1.08. The firm's 50 day moving average is $65.55 and its two-hundred day moving average is $64.84. The stock has a market cap of $3.79 billion, a PE ratio of 21.12 and a beta of 0.74.

ALLETE (NYSE:ALE - Get Free Report) last released its 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 announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Friday, February 14th were issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 4.46%. This is a boost from ALLETE's previous quarterly dividend of $0.71. The ex-dividend date was Friday, February 14th. ALLETE's payout ratio is presently 94.19%.

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.