Cresset Asset Management LLC Purchases 905 Shares of ALLETE, Inc. (NYSE:ALE)

Cresset Asset Management LLC lifted its position in shares of ALLETE, Inc. (NYSE:ALE) by 3.2% during the 4th quarter, Holdings Channel reports. The firm owned 28,953 shares of the utilities provider’s stock after purchasing an additional 905 shares during the quarter. Cresset Asset Management LLC’s holdings in ALLETE were worth $1,876,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Highbridge Capital Management LLC bought a new position in ALLETE during the fourth quarter worth about $54,592,000. AQR Arbitrage LLC lifted its position in shares of ALLETE by 30.4% in the fourth quarter. AQR Arbitrage LLC now owns 847,472 shares of the utilities provider’s stock valued at $54,781,000 after buying an additional 197,340 shares during the last quarter. Balyasny Asset Management L.P. boosted its stake in shares of ALLETE by 627.7% during the 4th quarter. Balyasny Asset Management L.P. now owns 165,730 shares of the utilities provider’s stock worth $10,739,000 after acquiring an additional 142,957 shares during the period. Kapitalo Investimentos Ltda acquired a new position in shares of ALLETE during the 4th quarter worth approximately $8,741,000. Finally, Absolute Gestao de Investimentos Ltda. raised its stake in ALLETE by 76.3% in the 4th quarter. Absolute Gestao de Investimentos Ltda. now owns 254,175 shares of the utilities provider’s stock valued at $16,471,000 after acquiring an additional 110,000 shares during the period. 76.55% of the stock is owned by institutional investors.

ALLETE Trading Down 0.1 %

Shares of ALLETE stock opened at $65.42 on Friday. ALLETE, Inc. has a 1 year low of $61.51 and a 1 year high of $65.99. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of 21.10 and a beta of 0.82. The business has a fifty day simple moving average of $65.25 and a two-hundred day simple moving average of $65.10. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.08 and a quick ratio of 0.69.

ALLETE (NYSE:ALE) last announced its earnings results on Thursday, May 8th. The utilities provider reported $1.01 EPS for the quarter, hitting the consensus estimate of $1.01. The business had revenue of $400.20 million during the quarter, compared to the consensus estimate of $456.30 million. ALLETE had a net margin of 11.72% and a return on equity of 5.97%. ALLETE’s revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.90 EPS.

ALLETE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.73 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 4.46%. ALLETE’s dividend payout ratio (DPR) is currently 91.54%.

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.