ALLETE, Inc. (NYSE:ALE) Shares Acquired by Invesco Ltd.

Invesco Ltd. increased its position in shares of ALLETE, Inc. (NYSE:ALE - Free Report) by 14.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 331,472 shares of the utilities provider's stock after purchasing an additional 41,315 shares during the quarter. Invesco Ltd. owned approximately 0.57% of ALLETE worth $21,479,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd acquired a new stake in shares of ALLETE in the fourth quarter valued at approximately $380,000. HighTower Advisors LLC grew its holdings in shares of ALLETE by 15.7% in the fourth quarter. HighTower Advisors LLC now owns 6,311 shares of the utilities provider's stock valued at $409,000 after purchasing an additional 855 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of ALLETE by 16.5% during the 4th quarter. JPMorgan Chase & Co. now owns 352,124 shares of the utilities provider's stock worth $22,818,000 after buying an additional 49,993 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. purchased a new position in shares of ALLETE during the 4th quarter worth $5,378,000. Finally, Resona Asset Management Co. Ltd. acquired a new stake in shares of ALLETE during the 4th quarter worth about $671,000. 76.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

ALLETE Trading Up 0.1 %

NYSE ALE traded up $0.07 on Thursday, reaching $65.17. The stock had a trading volume of 42,695 shares, compared to its average volume of 375,772. ALLETE, Inc. has a 12-month low of $59.00 and a 12-month high of $65.99. The stock has a fifty day moving average price of $65.28 and a two-hundred day moving average price of $65.00. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of 21.02 and a beta of 0.69. The company has a quick ratio of 0.69, a current ratio of 1.08 and a debt-to-equity ratio of 0.50.

ALLETE (NYSE:ALE - Get Free Report) last posted its earnings results on Tuesday, February 18th. The utilities provider reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Friday, February 14th were paid a $0.73 dividend. This is a positive change from ALLETE's previous quarterly dividend of $0.71. The ex-dividend date was Friday, February 14th. This represents a $2.92 annualized dividend and a dividend yield of 4.48%. ALLETE's dividend payout ratio (DPR) is presently 94.19%.

About ALLETE

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.