ALLETE, Inc. (NYSE:ALE) Stock Holdings Decreased by Boston Partners

Boston Partners lessened its stake in ALLETE, Inc. (NYSE:ALE) by 26.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,928 shares of the utilities provider’s stock after selling 10,009 shares during the quarter. Boston Partners’ holdings in ALLETE were worth $1,810,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Longfellow Investment Management Co. LLC bought a new stake in ALLETE in the third quarter valued at about $38,000. Jones Financial Companies Lllp grew its position in shares of ALLETE by 30.9% in the 4th quarter. Jones Financial Companies Lllp now owns 729 shares of the utilities provider’s stock worth $47,000 after acquiring an additional 172 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of ALLETE by 32.9% in the 4th quarter. Fifth Third Bancorp now owns 876 shares of the utilities provider’s stock valued at $57,000 after acquiring an additional 217 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. raised its position in shares of 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 in the last quarter. Finally, KBC Group NV lifted its stake in ALLETE by 61.7% during the fourth quarter. KBC Group NV now owns 2,431 shares of the utilities provider’s stock worth $158,000 after purchasing an additional 928 shares during the last quarter. Institutional investors own 76.55% of the company’s stock.

Analyst Ratings Changes

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

ALLETE Stock Performance

Shares of ALE stock opened at $65.66 on Friday. The company has a market cap of $3.81 billion, a P/E ratio of 21.18 and a beta of 0.74. The business has a 50 day moving average of $65.54 and a two-hundred day moving average of $64.81. ALLETE, Inc. has a 52 week low of $56.66 and a 52 week high of $65.99. The company has a quick ratio of 0.69, a current ratio of 1.08 and a debt-to-equity ratio of 0.50.

ALLETE (NYSE:ALE) last released its quarterly earnings data 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 dividend of $0.73 per share. The ex-dividend date was Friday, February 14th. This represents a $2.92 annualized dividend and a dividend yield of 4.45%. This is a positive change from ALLETE’s previous quarterly dividend of $0.71. ALLETE’s dividend payout ratio is currently 94.19%.

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.