Kennedy Capital Management LLC Sells 8,502 Shares of ALLETE, Inc. (NYSE:ALE)

Kennedy Capital Management LLC lessened its position in shares of ALLETE, Inc. (NYSE:ALE - Free Report) by 5.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 136,822 shares of the utilities provider's stock after selling 8,502 shares during the period. Kennedy Capital Management LLC owned 0.24% of ALLETE worth $8,866,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of ALE. Vanguard Group Inc. raised its position in shares of ALLETE by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 6,365,190 shares of the utilities provider's stock worth $412,464,000 after acquiring an additional 20,624 shares in the last quarter. State Street Corp increased its holdings in ALLETE by 0.5% in the third quarter. State Street Corp now owns 2,459,692 shares of the utilities provider's stock worth $157,888,000 after purchasing an additional 13,335 shares in the last quarter. Geode Capital Management LLC lifted its stake in ALLETE by 1.6% in the third quarter. Geode Capital Management LLC now owns 1,395,362 shares of the utilities provider's stock valued at $89,584,000 after buying an additional 21,850 shares during the period. Highbridge Capital Management LLC bought a new position in shares of ALLETE during the 4th quarter worth approximately $54,592,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of ALLETE by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 786,588 shares of the utilities provider's stock worth $50,971,000 after buying an additional 20,245 shares during the period. Institutional investors and hedge funds own 76.55% of the company's stock.

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Analyst Upgrades and Downgrades

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

ALLETE Stock Down 0.1 %

Shares of NYSE ALE traded down $0.07 during midday trading on Tuesday, hitting $65.00. 495,743 shares of the stock traded hands, compared to its average volume of 374,156. 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, Inc. has a one year low of $56.66 and a one year high of $65.99. The business has a 50 day moving average price of $65.39 and a two-hundred day moving average price of $64.98. The company has a market cap of $3.77 billion, a PE ratio of 20.97 and a beta of 0.69.

ALLETE (NYSE:ALE - Get Free Report) last released 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 business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Friday, February 14th were issued a dividend of $0.73 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.92 annualized dividend and a yield of 4.49%. This is an increase from ALLETE's previous quarterly dividend of $0.71. ALLETE's dividend payout ratio is 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.