Mint Tower Capital Management B.V. Buys New Shares in ALLETE, Inc. (NYSE:ALE)

Mint Tower Capital Management B.V. purchased a new stake in shares of ALLETE, Inc. (NYSE:ALE - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,000 shares of the utilities provider's stock, valued at approximately $648,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jones Financial Companies Lllp increased its position in ALLETE by 30.9% during the 4th quarter. Jones Financial Companies Lllp now owns 729 shares of the utilities provider's stock valued at $47,000 after purchasing an additional 172 shares during the period. Fifth Third Bancorp increased its position in shares of ALLETE by 32.9% during the fourth quarter. Fifth Third Bancorp now owns 876 shares of the utilities provider's stock valued at $57,000 after buying an additional 217 shares during the period. Exchange Traded Concepts LLC increased its position in shares of ALLETE by 2.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 11,786 shares of the utilities provider's stock valued at $764,000 after buying an additional 295 shares during the period. D.A. Davidson & CO. lifted its holdings in ALLETE by 1.9% in the third quarter. D.A. Davidson & CO. now owns 16,844 shares of the utilities provider's stock worth $1,081,000 after buying an additional 315 shares during the period. Finally, Xponance Inc. lifted its holdings in ALLETE by 4.5% in the fourth quarter. Xponance Inc. now owns 8,198 shares of the utilities provider's stock worth $531,000 after buying an additional 356 shares during the period. 76.55% of the stock is owned by institutional investors.

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ALLETE Stock Down 0.0 %

NYSE:ALE traded down $0.03 during mid-day trading on Monday, hitting $65.68. 44,348 shares of the company's stock were exchanged, compared to its average volume of 340,147. The company has a market cap of $3.81 billion, a PE ratio of 21.19 and a beta of 0.74. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.08 and a quick ratio of 0.69. ALLETE, Inc. has a one year low of $56.66 and a one year high of $65.99. The business has a fifty day moving average price of $65.55 and a 200 day moving average price of $64.89.

ALLETE (NYSE:ALE - Get Free Report) last posted 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 firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Friday, February 14th were given a dividend of $0.73 per share. The ex-dividend date was Friday, February 14th. This represents a $2.92 annualized dividend and a dividend yield of 4.45%. This is a positive change from ALLETE's previous quarterly dividend of $0.71. ALLETE's dividend payout ratio is presently 94.19%.

Wall Street Analysts Forecast Growth

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

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.