Y Intercept Hong Kong Ltd Makes New Investment in ALLETE, Inc. (NYSE:ALE)

Y Intercept Hong Kong Ltd purchased a new position in ALLETE, Inc. (NYSE:ALE - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 5,870 shares of the utilities provider's stock, valued at approximately $380,000.

Several other institutional investors also recently bought and sold shares of ALE. Longfellow Investment Management Co. LLC bought a new stake in shares of ALLETE in the 3rd quarter worth $38,000. Fifth Third Bancorp raised its position in ALLETE by 32.9% in the 4th quarter. Fifth Third Bancorp now owns 876 shares of the utilities provider's stock worth $57,000 after buying an additional 217 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its stake in ALLETE by 31.0% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,563 shares of the utilities provider's stock valued at $100,000 after acquiring an additional 370 shares during the period. KBC Group NV boosted its holdings in shares of ALLETE by 61.7% during the 4th quarter. KBC Group NV now owns 2,431 shares of the utilities provider's stock valued at $158,000 after acquiring an additional 928 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its stake 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 worth $201,000 after acquiring an additional 405 shares during the period. 76.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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ALLETE Stock Performance

Shares of ALE traded up $0.04 during trading hours on Friday, hitting $65.35. The stock had a trading volume of 120,700 shares, compared to its average volume of 346,361. The firm has a market capitalization of $3.78 billion, a PE ratio of 21.08 and a beta of 0.74. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.08 and a quick ratio of 0.69. The stock has a fifty day moving average price of $65.41 and a 200 day moving average price of $64.64. ALLETE, Inc. has a 12 month low of $56.66 and a 12 month high of $65.99.

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 the consensus estimate of $1.02 by ($0.15). ALLETE had a return on equity of 5.97% and a net margin of 11.72%.

ALLETE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Friday, February 14th were paid a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 4.47%. This is a positive change from ALLETE's previous quarterly dividend of $0.71. The ex-dividend date was Friday, February 14th. ALLETE's dividend payout ratio 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.