Rep. Julie Johnson Sells Off Shares of ALLETE, Inc. (NYSE:ALE)

Representative Julie Johnson (D-Texas) recently sold shares of ALLETE, Inc. NYSE: ALE. In a filing disclosed on February 12th, the Representative disclosed that they had sold between $1,001 and $15,000 in ALLETE stock on January 28th. The trade occurred in the Representative's "MERRILL LYNCH LONG TERM GROWTH" account.

Representative Julie Johnson also recently made the following trade(s):

• Sold $1,001 - $15,000 in shares of Dell Technologies NYSE: DELL on 1/28/2025.
• Sold $1,001 - $15,000 in shares of PepsiCo NASDAQ: PEP on 1/28/2025.
• Sold $1,001 - $15,000 in shares of Intuit NASDAQ: INTU on 1/28/2025.
• Sold $1,001 - $15,000 in shares of PPG Industries NYSE: PPG on 1/27/2025.
• Purchased $1,001 - $15,000 in shares of Progressive NYSE: PGR on 1/24/2025.
• Purchased $1,001 - $15,000 in shares of The Goldman Sachs Group NYSE: GS on 1/24/2025.
• Sold $1,001 - $15,000 in shares of Chubb NYSE: CB on 1/24/2025.
• Sold $1,001 - $15,000 in shares of Morgan Stanley NYSE: MS on 1/24/2025.
• Purchased $1,001 - $15,000 in shares of Merck & Co., Inc. NYSE: MRK on 1/17/2025.
• Sold $1,001 - $15,000 in shares of Walmart NYSE: WMT on 1/17/2025.

ALLETE Price Performance

ALE stock traded down $0.56 during midday trading on Monday, reaching $65.33. 412,959 shares of the stock were exchanged, compared to its average volume of 397,113. The stock has a market capitalization of $3.78 billion, a PE ratio of 20.94 and a beta of 0.80. ALLETE, Inc. has a 52 week low of $55.86 and a 52 week high of $65.99. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.45 and a quick ratio of 0.95. The company has a fifty day moving average price of $65.19 and a 200 day moving average price of $64.52.

ALLETE (NYSE:ALE - Get Free Report) last issued 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 return on equity of 5.99% and a net margin of 11.49%.

ALLETE Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be given a dividend of $0.73 per share. The ex-dividend date is Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a yield of 4.47%. This is a positive change from ALLETE's previous quarterly dividend of $0.71. ALLETE's payout ratio is currently 94.19%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On ALLETE

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew 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 valued at $412,464,000 after buying an additional 20,624 shares during the last quarter. State Street Corp grew its position in shares of ALLETE by 0.5% in the 3rd quarter. State Street Corp now owns 2,459,692 shares of the utilities provider's stock valued at $157,888,000 after buying an additional 13,335 shares during the last quarter. Geode Capital Management LLC grew its position in shares of ALLETE by 1.6% in the 3rd 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 last quarter. AQR Arbitrage LLC lifted its stake in shares of ALLETE by 30.4% in the 4th quarter. AQR Arbitrage LLC now owns 847,472 shares of the utilities provider's stock valued at $54,781,000 after purchasing an additional 197,340 shares during the period. Finally, Highbridge Capital Management LLC acquired a new position in shares of ALLETE in the 4th quarter valued at about $54,592,000. Institutional investors own 76.55% of the company's stock.

About Representative Johnson

Julie Johnson (Democratic Party) is a member of the U.S. House, representing Texas' 32nd Congressional District. She assumed office on January 3, 2025. Her current term ends on January 3, 2027. Johnson (Democratic Party) ran for election to the U.S. House to represent Texas' 32nd Congressional District. She won in the general election on November 5, 2024. Julie Johnson earned a B.A. in history and government from the University of Texas at Austin in 1987 and a J.D. from the University of Houston Law Center in 1991. Johnson's career experience includes working as an attorney.

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.