New York Life Investment Management LLC Decreases Stock Holdings in ALLETE, Inc. (NYSE:ALE)

New York Life Investment Management LLC reduced its stake in shares of ALLETE, Inc. (NYSE:ALE - Free Report) by 11.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,442 shares of the utilities provider's stock after selling 12,046 shares during the period. New York Life Investment Management LLC owned 0.17% of ALLETE worth $6,249,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Longfellow Investment Management Co. LLC purchased a new position in shares of ALLETE during the third quarter valued at approximately $38,000. Fifth Third Bancorp lifted its stake in shares of ALLETE by 32.9% during the 4th quarter. Fifth Third Bancorp now owns 876 shares of the utilities provider's stock worth $57,000 after purchasing an additional 217 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of ALLETE by 31.0% during the 3rd 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. KBC Group NV boosted its holdings in shares of ALLETE by 61.7% during 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 last quarter. Finally, Meeder Asset Management Inc. grew its position in shares of ALLETE by 14.8% in the third quarter. Meeder Asset Management Inc. now owns 3,135 shares of the utilities provider's stock valued at $201,000 after purchasing an additional 405 shares during the period. Hedge funds and other institutional investors own 76.55% of the company's stock.

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ALLETE Trading Down 0.1 %

ALLETE stock traded down $0.07 during trading on Tuesday, reaching $65.65. The company had a trading volume of 134,334 shares, compared to its average volume of 345,188. ALLETE, Inc. has a 12-month low of $56.45 and a 12-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 stock's 50 day moving average price is $65.37 and its two-hundred day moving average price is $64.62. The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of 21.16 and a beta of 0.80.

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

ALLETE Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Friday, February 14th were paid a dividend of $0.73 per share. The ex-dividend date was Friday, February 14th. This is a positive change from ALLETE's previous quarterly dividend of $0.71. This represents a $2.92 annualized dividend and a yield of 4.45%. ALLETE's dividend payout ratio is currently 94.19%.

Wall Street Analysts Forecast Growth

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

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.