US Bancorp DE Increases Position in ALLETE, Inc. (NYSE:ALE)

US Bancorp DE boosted its stake in shares of ALLETE, Inc. (NYSE:ALE - Free Report) by 82.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 27,090 shares of the utilities provider's stock after purchasing an additional 12,249 shares during the period. US Bancorp DE's holdings in ALLETE were worth $1,755,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ALE. Quest Partners LLC boosted its holdings in ALLETE by 249.1% during the third quarter. Quest Partners LLC now owns 34,367 shares of the utilities provider's stock worth $2,206,000 after buying an additional 24,523 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of ALLETE by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 766,343 shares of the utilities provider's stock worth $49,192,000 after acquiring an additional 7,739 shares during the period. Citigroup Inc. boosted its stake in shares of ALLETE by 28.3% during the 3rd quarter. Citigroup Inc. now owns 129,635 shares of the utilities provider's stock worth $8,321,000 after acquiring an additional 28,612 shares in the last quarter. Polar Asset Management Partners Inc. boosted its stake in shares of ALLETE by 100.0% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 80,000 shares of the utilities provider's stock worth $5,135,000 after acquiring an additional 40,000 shares in the last quarter. Finally, State Street Corp grew its position in shares of ALLETE by 0.5% during the 3rd quarter. State Street Corp now owns 2,459,692 shares of the utilities provider's stock valued at $157,888,000 after acquiring an additional 13,335 shares during the period. Hedge funds and other institutional investors own 76.55% of the company's stock.

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Analyst Upgrades and Downgrades

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

ALLETE Price Performance

ALLETE stock traded up $0.08 during trading on Monday, reaching $65.35. The company had a trading volume of 13,830 shares, compared to its average volume of 346,917. 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 firm's 50-day simple moving average is $65.44 and its 200 day simple moving average is $64.68. The firm has a market capitalization of $3.78 billion, a PE ratio of 21.08 and a beta of 0.74. ALLETE, Inc. has a 1-year low of $56.66 and a 1-year high of $65.99.

ALLETE (NYSE:ALE - Get Free Report) last released its earnings results on Tuesday, February 18th. The utilities provider reported $0.87 earnings per share 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. The ex-dividend date was Friday, February 14th. 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 dividend yield of 4.47%. ALLETE's dividend payout ratio (DPR) is 94.19%.

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.