ALLETE, Inc. (NYSE:ALE) Shares Sold by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC trimmed its holdings in ALLETE, Inc. (NYSE:ALE - Free Report) by 8.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 282,220 shares of the utilities provider's stock after selling 25,948 shares during the quarter. Segall Bryant & Hamill LLC owned approximately 0.49% of ALLETE worth $18,288,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Glazer Capital LLC purchased a new position in shares of ALLETE in the 3rd quarter valued at approximately $5,766,000. Tokio Marine Asset Management Co. Ltd. purchased a new position in ALLETE in the 4th quarter valued at $5,378,000. Barclays PLC raised its position in ALLETE by 187.1% during the 3rd quarter. Barclays PLC now owns 100,079 shares of the utilities provider's stock worth $6,425,000 after buying an additional 65,222 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of ALLETE by 107.8% in the 3rd quarter. Jane Street Group LLC now owns 121,631 shares of the utilities provider's stock worth $7,807,000 after acquiring an additional 63,091 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of ALLETE by 54.5% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 169,707 shares of the utilities provider's stock worth $10,997,000 after acquiring an additional 59,891 shares during the period. 76.55% of the stock is owned by hedge funds and other institutional investors.

ALLETE Trading Up 0.0 %

ALE stock traded up $0.02 during midday trading on Friday, hitting $65.68. The stock had a trading volume of 170,335 shares, compared to its average volume of 363,283. ALLETE, Inc. has a 12-month low of $56.66 and a 12-month high of $65.99. The firm has a market cap of $3.81 billion, a PE ratio of 21.19 and a beta of 0.74. The company's 50-day moving average price is $65.55 and its 200 day moving average price is $64.89. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.08 and a quick ratio of 0.69.

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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 business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Friday, February 14th were paid a $0.73 dividend. This is an increase from ALLETE's previous quarterly dividend of $0.71. This represents a $2.92 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date of this dividend was Friday, February 14th. ALLETE's payout ratio is presently 94.19%.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on ALLETE in a report on Friday, January 10th. They issued 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.