Wilmington Savings Fund Society FSB Lowers Position in ALLETE, Inc. (NYSE:ALE)

Wilmington Savings Fund Society FSB trimmed its position in shares of ALLETE, Inc. (NYSE:ALE) by 4.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,220 shares of the utilities provider’s stock after selling 174 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in ALLETE were worth $273,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ALE. Longfellow Investment Management Co. LLC purchased a new stake in shares of ALLETE during the 3rd quarter worth about $38,000. Fifth Third Bancorp raised its stake in shares of ALLETE by 32.9% during 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 period. Point72 Asia Singapore Pte. Ltd. grew its stake 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 acquiring an additional 370 shares during the period. KBC Group NV increased its holdings in ALLETE by 61.7% in the 4th quarter. KBC Group NV now owns 2,431 shares of the utilities provider’s stock worth $158,000 after acquiring an additional 928 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its position 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 valued at $201,000 after purchasing an additional 405 shares during the period. 76.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of ALLETE in a research report on Friday, January 10th. They set a “hold” rating for the company.

ALLETE Trading Up 0.1 %

Shares of ALE stock opened at $65.76 on Wednesday. ALLETE, Inc. has a fifty-two week low of $55.86 and a fifty-two week high of $65.95. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.45. The stock’s fifty day moving average is $65.11 and its two-hundred day moving average is $64.49. The firm has a market capitalization of $3.80 billion, a P/E ratio of 21.08 and a beta of 0.80.

ALLETE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be paid a $0.73 dividend. This is an increase from ALLETE’s previous quarterly dividend of $0.71. This represents a $2.92 annualized dividend and a dividend yield of 4.44%. The ex-dividend date of this dividend is Friday, February 14th. ALLETE’s dividend payout ratio (DPR) is currently 90.38%.

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.