ALLETE, Inc. (NYSE:ALE) Shares Sold by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB trimmed its position in ALLETE, Inc. (NYSE:ALE) by 4.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,220 shares of the utilities provider’s stock after selling 174 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in ALLETE were worth $273,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ALE. Longfellow Investment Management Co. LLC purchased a new stake in shares of ALLETE during the 3rd quarter valued at approximately $38,000. Fifth Third Bancorp raised its position in ALLETE by 32.9% in the fourth quarter. Fifth Third Bancorp now owns 876 shares of the utilities provider’s stock valued at $57,000 after purchasing an additional 217 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its position in ALLETE by 31.0% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,563 shares of the utilities provider’s stock valued at $100,000 after purchasing an additional 370 shares during the period. KBC Group NV lifted its stake in shares of ALLETE by 61.7% in the 4th quarter. KBC Group NV now owns 2,431 shares of the utilities provider’s stock valued at $158,000 after purchasing an additional 928 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its holdings in shares of ALLETE by 14.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 3,135 shares of the utilities provider’s stock worth $201,000 after purchasing an additional 405 shares during the period. Hedge funds and other institutional investors own 76.55% of the company’s stock.

ALLETE Stock Performance

NYSE:ALE opened at $65.76 on Wednesday. ALLETE, Inc. has a fifty-two week low of $55.86 and a fifty-two week high of $65.95. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.45. The company has a 50 day moving average price of $65.11 and a 200 day moving average price of $64.49. The stock has a market capitalization of $3.80 billion, a P/E ratio of 21.08 and a beta of 0.80.

ALLETE Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be given a dividend of $0.73 per share. This is a positive change from ALLETE’s previous quarterly dividend of $0.71. This represents a $2.92 annualized dividend and a dividend yield of 4.44%. The ex-dividend date of this dividend is Friday, February 14th. ALLETE’s dividend payout ratio (DPR) is currently 90.38%.

Analyst Ratings Changes

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

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.