Boston Partners Decreases Holdings in ALLETE Inc (ALE)

Boston Partners reduced its position in shares of ALLETE Inc (NYSE:ALE) by 37.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,680 shares of the utilities provider’s stock after selling 10,480 shares during the quarter. Boston Partners’ holdings in ALLETE were worth $1,348,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ALE. Renaissance Technologies LLC boosted its stake in ALLETE by 28.7% during the 3rd quarter. Renaissance Technologies LLC now owns 986,999 shares of the utilities provider’s stock valued at $74,035,000 after purchasing an additional 220,199 shares in the last quarter. BlackRock Inc. boosted its stake in ALLETE by 2.1% during the 3rd quarter. BlackRock Inc. now owns 5,963,568 shares of the utilities provider’s stock valued at $447,328,000 after purchasing an additional 121,426 shares in the last quarter. Retirement Systems of Alabama boosted its stake in ALLETE by 149.0% during the 4th quarter. Retirement Systems of Alabama now owns 165,274 shares of the utilities provider’s stock valued at $12,597,000 after purchasing an additional 98,899 shares in the last quarter. Symons Capital Management Inc. bought a new position in ALLETE during the 3rd quarter valued at $5,657,000. Finally, Vanguard Group Inc boosted its stake in ALLETE by 1.4% during the 3rd quarter. Vanguard Group Inc now owns 5,108,607 shares of the utilities provider’s stock valued at $383,197,000 after purchasing an additional 71,585 shares in the last quarter. 69.89% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently weighed in on ALE shares. Williams Capital lowered ALLETE from a “hold” rating to a “sell” rating and set a $69.00 price objective for the company. in a research note on Monday, December 10th. Zacks Investment Research raised ALLETE from a “sell” rating to a “hold” rating and set a $89.00 price objective for the company in a research note on Monday, February 18th. Finally, Mizuho lowered ALLETE from a “neutral” rating to an “underperform” rating and set a $79.30 price objective for the company. in a research note on Monday, February 11th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $76.38.

In other news, Chairman Alan R. Hodnik sold 4,000 shares of the firm’s stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $80.59, for a total transaction of $322,360.00. Following the completion of the sale, the chairman now directly owns 80,453 shares of the company’s stock, valued at approximately $6,483,707.27. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.41% of the company’s stock.

ALE opened at $81.05 on Friday. The firm has a market cap of $4.24 billion, a PE ratio of 22.45 and a beta of 0.28. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.83 and a quick ratio of 0.61. ALLETE Inc has a fifty-two week low of $67.07 and a fifty-two week high of $82.95.

ALLETE (NYSE:ALE) last released its quarterly earnings data on Thursday, February 14th. The utilities provider reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.05. The business had revenue of $448.30 million during the quarter, compared to analyst estimates of $413.00 million. ALLETE had a return on equity of 8.76% and a net margin of 11.62%. The company’s revenue was up 32.7% compared to the same quarter last year. During the same period last year, the company posted $0.81 EPS. Equities research analysts forecast that ALLETE Inc will post 3.57 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 15th will be paid a dividend of $0.5875 per share. The ex-dividend date is Thursday, February 14th. This is a positive change from ALLETE’s previous quarterly dividend of $0.56. This represents a $2.35 annualized dividend and a dividend yield of 2.90%. ALLETE’s dividend payout ratio (DPR) is currently 65.10%.

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ALLETE Company Profile

ALLETE, Inc operates as an energy company. The company operates through three segments: Regulated Operations, ALLETE Clean Energy, and U.S. Water Services. It generates electricity from coal-fired, natural gas-fired, biomass co-fired, hydroelectric, wind, solar, and other sources. The company provides regulated electric, natural gas, and water 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 145,000 retail customers and 16 non-affiliated municipal customers.

Further Reading: How can you know how many shares are floating?

Institutional Ownership by Quarter for ALLETE (NYSE:ALE)

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