ALLETE, Inc. (NYSE:ALE) Position Trimmed by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. lessened its holdings in shares of ALLETE, Inc. (NYSE:ALE) by 20.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,237 shares of the utilities provider’s stock after selling 326 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in ALLETE were worth $80,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ALE. Jones Financial Companies Lllp grew its stake 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 valued at $47,000 after buying an additional 172 shares in the last quarter. Fifth Third Bancorp grew its stake 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 buying an additional 217 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of ALLETE in the 4th quarter valued at approximately $73,000. Lazard Asset Management LLC grew its stake in shares of ALLETE by 13.6% in the 4th quarter. Lazard Asset Management LLC now owns 1,371 shares of the utilities provider’s stock valued at $88,000 after buying an additional 164 shares in the last quarter. Finally, Covestor Ltd grew its stake in shares of ALLETE by 38.0% in the 4th quarter. Covestor Ltd now owns 2,410 shares of the utilities provider’s stock valued at $156,000 after buying an additional 663 shares in the last quarter. Hedge funds and other institutional investors own 76.55% of the company’s stock.

ALLETE Trading Up 0.1%

Shares of NYSE ALE opened at $65.13 on Friday. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of 21.01 and a beta of 0.82. The business has a 50 day simple moving average of $65.26 and a 200 day simple moving average of $65.14. ALLETE, Inc. has a 52 week low of $61.51 and a 52 week high of $65.99. 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 (NYSE:ALE) last announced its quarterly earnings results on Thursday, May 8th. The utilities provider reported $1.01 EPS for the quarter, meeting the consensus estimate of $1.01. The business had revenue of $400.20 million during the quarter, compared to analysts’ expectations of $456.30 million. ALLETE had a return on equity of 5.97% and a net margin of 11.72%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.90 EPS.

ALLETE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be issued a $0.73 dividend. The ex-dividend date is Thursday, May 15th. This represents a $2.92 annualized dividend and a yield of 4.48%. ALLETE’s dividend payout ratio (DPR) is currently 91.54%.

ALLETE 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.