Integrated Wealth Concepts LLC Grows Stock Holdings in ALLETE, Inc. (NYSE:ALE)

Integrated Wealth Concepts LLC lifted its stake in ALLETE, Inc. (NYSE:ALE - Free Report) by 20.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,756 shares of the utilities provider's stock after purchasing an additional 9,276 shares during the quarter. Integrated Wealth Concepts LLC owned about 0.10% of ALLETE worth $3,613,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd bought a new stake in ALLETE in the fourth quarter worth $380,000. HighTower Advisors LLC boosted its stake in ALLETE by 15.7% in the 4th quarter. HighTower Advisors LLC now owns 6,311 shares of the utilities provider's stock worth $409,000 after purchasing an additional 855 shares in the last quarter. JPMorgan Chase & Co. grew its position in ALLETE by 16.5% during the 4th quarter. JPMorgan Chase & Co. now owns 352,124 shares of the utilities provider's stock valued at $22,818,000 after purchasing an additional 49,993 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. purchased a new stake in ALLETE during the 4th quarter valued at about $5,378,000. Finally, Resona Asset Management Co. Ltd. bought a new stake in ALLETE during the 4th quarter valued at about $671,000. Hedge funds and other institutional investors own 76.55% of the company's stock.

Analyst Upgrades and Downgrades

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

ALLETE Price Performance

NYSE ALE opened at $65.18 on Friday. The stock has a 50-day moving average of $65.27 and a 200 day moving average of $65.02. ALLETE, Inc. has a one year low of $59.00 and a one year high of $65.99. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of 21.03 and a beta of 0.69. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.69 and a current ratio of 1.08.

ALLETE (NYSE:ALE - Get Free Report) last announced its earnings results 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 net margin of 11.72% and a return on equity of 5.97%.

ALLETE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be paid a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 4.48%. ALLETE's payout ratio is 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.

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