ALLETE, Inc. (NYSE:ALE) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. grew its stake in ALLETE, Inc. (NYSE:ALE - Free Report) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,365,190 shares of the utilities provider's stock after purchasing an additional 20,624 shares during the period. Vanguard Group Inc. owned approximately 11.01% of ALLETE worth $412,464,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. BNP Paribas Financial Markets increased its stake in ALLETE by 31.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 19,470 shares of the utilities provider's stock valued at $1,250,000 after buying an additional 4,684 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of ALLETE by 6.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,461 shares of the utilities provider's stock worth $671,000 after acquiring an additional 639 shares during the period. Captrust Financial Advisors lifted its position in ALLETE by 38.2% in the third quarter. Captrust Financial Advisors now owns 47,341 shares of the utilities provider's stock valued at $3,039,000 after purchasing an additional 13,080 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its holdings in ALLETE by 31.0% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,563 shares of the utilities provider's stock valued at $100,000 after purchasing an additional 370 shares in the last quarter. Finally, Paloma Partners Management Co acquired a new position in ALLETE during the 3rd quarter worth approximately $266,000. Hedge funds and other institutional investors own 76.55% of the company's stock.

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ALLETE Price Performance

Shares of ALE traded down $0.61 during trading hours on Monday, reaching $64.63. The company had a trading volume of 572,038 shares, compared to its average volume of 367,237. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of 20.85 and a beta of 0.69. ALLETE, Inc. has a 12-month low of $56.66 and a 12-month high of $65.99. The firm has a 50 day simple moving average of $65.51 and a 200-day simple moving average of $64.95. The company has a current ratio of 1.08, a quick ratio of 0.69 and a debt-to-equity ratio of 0.50.

ALLETE (NYSE:ALE - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.87 earnings per share (EPS) 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 company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Friday, February 14th were given a $0.73 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 4.52%. This is a boost from ALLETE's previous quarterly dividend of $0.71. ALLETE's dividend payout ratio (DPR) is currently 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 for the company.

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.