Inspire Investing LLC Sells 4,919 Shares of ALLETE, Inc. (NYSE:ALE)

Inspire Investing LLC decreased its holdings in ALLETE, Inc. (NYSE:ALE) by 44.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 6,265 shares of the utilities provider’s stock after selling 4,919 shares during the period. Inspire Investing LLC’s holdings in ALLETE were worth $406,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Millennium Management LLC lifted its holdings in shares of ALLETE by 955.1% in the second quarter. Millennium Management LLC now owns 897,622 shares of the utilities provider’s stock worth $55,967,000 after acquiring an additional 812,548 shares during the last quarter. Water Island Capital LLC acquired a new position in ALLETE during the 2nd quarter worth approximately $11,583,000. Squarepoint Ops LLC bought a new position in ALLETE in the 2nd quarter valued at approximately $10,161,000. Glazer Capital LLC acquired a new stake in ALLETE in the third quarter valued at approximately $5,766,000. Finally, Barclays PLC grew its stake in shares of ALLETE by 187.1% during the third quarter. Barclays PLC now owns 100,079 shares of the utilities provider’s stock worth $6,425,000 after buying an additional 65,222 shares during the last quarter. Institutional investors and hedge funds own 76.55% of the company’s stock.

ALLETE Stock Performance

Shares of ALLETE stock opened at $65.58 on Friday. The stock has a market cap of $3.79 billion, a price-to-earnings ratio of 21.02 and a beta of 0.80. ALLETE, Inc. has a twelve month low of $55.86 and a twelve month high of $65.95. The company’s fifty day moving average is $64.91 and its 200 day moving average is $64.34. The company has a quick ratio of 0.95, a current ratio of 1.45 and a debt-to-equity ratio of 0.51.

ALLETE (NYSE:ALE) last issued its quarterly earnings results on Wednesday, October 30th. The utilities provider reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.21). ALLETE had a net margin of 11.49% and a return on equity of 5.99%. The company had revenue of $407.20 million during the quarter. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period last year, the firm posted $1.49 earnings per share.

Analysts Set New Price Targets

ALE has been the topic of several recent research reports. Sidoti raised ALLETE from a “hold” rating to a “strong-buy” rating in a report on Monday, September 30th. StockNews.com started coverage on ALLETE in a research note on Friday, January 10th. They set 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.