ALLETE (NYSE:ALE) Stock Unloaded Rep. Julie Johnson

Representative Julie Johnson (D-Texas) recently sold shares of ALLETE, Inc. (NYSE:ALE). In a filing disclosed on February 12th, the Representative disclosed that they had sold between $1,001 and $15,000 in ALLETE stock on January 28th. The trade occurred in the Representative’s “MERRILL LYNCH LONG TERM GROWTH” account.

Representative Julie Johnson also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Dell Technologies (NYSE:DELL) on 1/28/2025.
• Sold $1,001 – $15,000 in shares of PepsiCo (NASDAQ:PEP) on 1/28/2025.
• Sold $1,001 – $15,000 in shares of Intuit (NASDAQ:INTU) on 1/28/2025.
• Sold $1,001 – $15,000 in shares of PPG Industries (NYSE:PPG) on 1/27/2025.
• Purchased $1,001 – $15,000 in shares of Progressive (NYSE:PGR) on 1/24/2025.
• Purchased $1,001 – $15,000 in shares of The Goldman Sachs Group (NYSE:GS) on 1/24/2025.
• Sold $1,001 – $15,000 in shares of Chubb (NYSE:CB) on 1/24/2025.
• Sold $1,001 – $15,000 in shares of Morgan Stanley (NYSE:MS) on 1/24/2025.
• Purchased $1,001 – $15,000 in shares of Merck & Co., Inc. (NYSE:MRK) on 1/17/2025.
• Sold $1,001 – $15,000 in shares of Walmart (NYSE:WMT) on 1/17/2025.

ALLETE Trading Down 0.9 %

Shares of ALLETE stock opened at $65.33 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.45 and a debt-to-equity ratio of 0.51. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of 20.94 and a beta of 0.80. The business has a fifty day simple moving average of $65.18 and a 200-day simple moving average of $64.51. ALLETE, Inc. has a fifty-two week low of $55.86 and a fifty-two week high of $65.99.

ALLETE (NYSE:ALE) last posted 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 net margin of 11.49% and a return on equity of 5.99%.

ALLETE Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be paid a dividend of $0.73 per share. This is a positive change from ALLETE’s previous quarterly dividend of $0.71. This represents a $2.92 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date of this dividend is Friday, February 14th. ALLETE’s dividend payout ratio (DPR) is presently 90.38%.

Institutional Trading of ALLETE

A number of hedge funds have recently bought and sold shares of ALE. Longfellow Investment Management Co. LLC acquired a new stake in ALLETE during the 3rd quarter worth about $38,000. Jones Financial Companies Lllp boosted its holdings in shares of ALLETE by 30.9% during the fourth quarter. Jones Financial Companies Lllp now owns 729 shares of the utilities provider’s stock worth $47,000 after purchasing an additional 172 shares during the period. Fifth Third Bancorp boosted its holdings in shares of ALLETE by 32.9% during the fourth quarter. Fifth Third Bancorp now owns 876 shares of the utilities provider’s stock worth $57,000 after purchasing an additional 217 shares during the period. Headlands Technologies LLC acquired a new position in ALLETE in the 4th quarter valued at approximately $73,000. Finally, Point72 Asia Singapore Pte. Ltd. lifted its position 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 worth $100,000 after buying an additional 370 shares in the last quarter. 76.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

About Representative Johnson

Julie Johnson (Democratic Party) is a member of the U.S. House, representing Texas’ 32nd Congressional District. She assumed office on January 3, 2025. Her current term ends on January 3, 2027.

Johnson (Democratic Party) ran for election to the U.S. House to represent Texas’ 32nd Congressional District. She won in the general election on November 5, 2024.

Julie Johnson earned a B.A. in history and government from the University of Texas at Austin in 1987 and a J.D. from the University of Houston Law Center in 1991. Johnson’s career experience includes working as an attorney.

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.