1,120 Shares in ALLETE, Inc. (NYSE:ALE) Bought by Headlands Technologies LLC

Headlands Technologies LLC bought a new stake in ALLETE, Inc. (NYSE:ALE) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 1,120 shares of the utilities provider’s stock, valued at approximately $73,000.

A number of other hedge funds have also made changes to their positions in the company. Jones Financial Companies Lllp grew its stake in 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 acquiring an additional 172 shares during the last quarter. Fifth Third Bancorp raised its position in 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 last quarter. KBC Group NV lifted its holdings in shares of ALLETE by 61.7% in the fourth 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 in the last quarter. Alerus Financial NA acquired a new stake in shares of ALLETE in the fourth quarter valued at approximately $202,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of ALLETE during the 3rd quarter worth approximately $282,000. Hedge funds and other institutional investors own 76.55% of the company’s stock.

Analyst Upgrades and Downgrades

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

ALLETE Trading Down 0.1 %

Shares of ALE stock opened at $65.25 on Monday. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of 21.05 and a beta of 0.69. The company has a current ratio of 1.08, a quick ratio of 0.69 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average price of $65.53 and a 200 day moving average price of $64.95. ALLETE, Inc. has a twelve month low of $56.66 and a twelve month 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 (EPS) for the quarter, missing the consensus estimate 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. Stockholders of record on Friday, February 14th were issued a dividend of $0.73 per share. 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 dividend yield of 4.48%. ALLETE’s dividend payout ratio (DPR) is 94.19%.

ALLETE Company 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.