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

Corient Private Wealth LLC lessened its holdings in shares of ALLETE, Inc. (NYSE:ALE) by 1.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,587 shares of the utilities provider’s stock after selling 600 shares during the quarter. Corient Private Wealth LLC’s holdings in ALLETE were worth $3,472,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Longfellow Investment Management Co. LLC bought a new stake in shares of ALLETE during the third quarter worth approximately $38,000. Jones Financial Companies Lllp boosted its holdings in shares of ALLETE by 30.9% during the fourth quarter. Jones Financial Companies Lllp now owns 729 shares of the utilities provider’s stock worth $47,000 after acquiring an additional 172 shares during the period. Fifth Third Bancorp boosted its holdings in shares of ALLETE by 32.9% during the fourth quarter. Fifth Third Bancorp now owns 876 shares of the utilities provider’s stock worth $57,000 after acquiring an additional 217 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of ALLETE by 31.0% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,563 shares of the utilities provider’s stock worth $100,000 after acquiring an additional 370 shares during the period. Finally, KBC Group NV boosted its holdings in shares of ALLETE by 61.7% during the fourth quarter. KBC Group NV now owns 2,431 shares of the utilities provider’s stock worth $158,000 after acquiring an additional 928 shares during the period. Institutional investors and hedge funds own 76.55% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on ALLETE in a report on Friday, January 10th. They set a “hold” rating for the company.

ALLETE Stock Down 0.1 %

NYSE ALE opened at $65.66 on Friday. The business has a fifty day moving average price of $65.54 and a two-hundred day moving average price of $64.82. 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, Inc. has a fifty-two week low of $56.66 and a fifty-two week high of $65.99. The stock has a market capitalization of $3.81 billion, a PE ratio of 21.18 and a beta of 0.74.

ALLETE (NYSE:ALE) last announced its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.15). ALLETE had a return on equity of 5.97% and a net margin of 11.72%.

ALLETE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Friday, February 14th were issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 4.45%. This is an increase from ALLETE’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Friday, February 14th. ALLETE’s dividend payout ratio is presently 94.19%.

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.