Headlands Technologies LLC Takes $73,000 Position in ALLETE, Inc. (NYSE:ALE)

Headlands Technologies LLC purchased a new position in shares of ALLETE, Inc. (NYSE:ALE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,120 shares of the utilities provider’s stock, valued at approximately $73,000.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in ALLETE by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 6,365,190 shares of the utilities provider’s stock valued at $412,464,000 after purchasing an additional 20,624 shares during the last quarter. State Street Corp increased its stake in ALLETE by 0.5% in the third quarter. State Street Corp now owns 2,459,692 shares of the utilities provider’s stock valued at $157,888,000 after purchasing an additional 13,335 shares during the period. Geode Capital Management LLC increased its stake in ALLETE by 1.6% in the third quarter. Geode Capital Management LLC now owns 1,395,362 shares of the utilities provider’s stock valued at $89,584,000 after purchasing an additional 21,850 shares during the period. Highbridge Capital Management LLC purchased a new stake in shares of ALLETE in the fourth quarter valued at about $54,592,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of ALLETE by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 786,588 shares of the utilities provider’s stock worth $50,971,000 after buying an additional 20,245 shares during the period. Institutional investors and hedge funds own 76.55% of the company’s stock.

ALLETE Stock Down 0.1 %

ALE stock opened at $65.25 on Monday. The stock has a market capitalization of $3.78 billion, a PE ratio of 21.05 and a beta of 0.69. The company has a fifty day moving average of $65.53 and a 200-day moving average of $64.95. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.69 and a current ratio of 1.08. ALLETE, Inc. has a one year low of $56.66 and a one year high of $65.99.

ALLETE (NYSE:ALE) last announced its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.87 earnings per share 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 firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Friday, February 14th were given a $0.73 dividend. This is a boost from ALLETE’s previous quarterly dividend of $0.71. The ex-dividend date was Friday, February 14th. This represents a $2.92 annualized dividend and a yield of 4.48%. ALLETE’s dividend payout ratio is presently 94.19%.

Wall Street Analysts Forecast Growth

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

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.