Corient Private Wealth LLC Has $3.47 Million Stock Position in ALLETE, Inc. (NYSE:ALE)

Corient Private Wealth LLC reduced its position in ALLETE, Inc. (NYSE:ALE) by 1.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 53,587 shares of the utilities provider’s stock after selling 600 shares during the period. Corient Private Wealth LLC owned 0.09% of ALLETE worth $3,472,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp boosted its position in shares of ALLETE by 0.5% in the 3rd quarter. State Street Corp now owns 2,459,692 shares of the utilities provider’s stock worth $157,888,000 after purchasing an additional 13,335 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of ALLETE by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,395,362 shares of the utilities provider’s stock worth $89,584,000 after purchasing an additional 21,850 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of ALLETE by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 786,588 shares of the utilities provider’s stock worth $50,971,000 after purchasing an additional 20,245 shares during the last quarter. Rhumbline Advisers boosted its position in shares of ALLETE by 3.5% in the 4th quarter. Rhumbline Advisers now owns 209,532 shares of the utilities provider’s stock worth $13,578,000 after purchasing an additional 7,153 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of ALLETE by 2.5% in the 4th quarter. Principal Financial Group Inc. now owns 184,915 shares of the utilities provider’s stock worth $11,982,000 after purchasing an additional 4,576 shares during the last quarter. 76.55% of the stock is owned by institutional investors and hedge funds.

ALLETE Stock Performance

ALE stock opened at $65.66 on Friday. The business’s 50-day moving average price is $65.54 and its two-hundred day moving average price is $64.82. The company has a current ratio of 1.08, a quick ratio of 0.69 and a debt-to-equity ratio of 0.50. The firm has a market cap of $3.81 billion, a PE ratio of 21.18 and a beta of 0.74. ALLETE, Inc. has a 1-year low of $56.66 and a 1-year high of $65.99.

ALLETE (NYSE:ALE) last released its earnings results 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 business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Friday, February 14th were given a $0.73 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 4.45%. This is an increase from ALLETE’s previous quarterly dividend of $0.71. ALLETE’s payout ratio is currently 94.19%.

Wall Street Analysts Forecast Growth

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

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.