Rep. Julie Johnson Sells ALLETE, Inc. (NYSE:ALE) Shares

Representative Julie Johnson (D-Texas) recently sold shares of ALLETE, Inc. (NYSE:ALE). In a filing disclosed on February 12th, the Representative disclosed that they had sold between $1,001 and $15,000 in ALLETE stock on January 28th. The trade occurred in the Representative’s “MERRILL LYNCH LONG TERM GROWTH” account.

Representative Julie Johnson also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Dell Technologies (NYSE:DELL) on 1/28/2025.
• Sold $1,001 – $15,000 in shares of PepsiCo (NASDAQ:PEP) on 1/28/2025.
• Sold $1,001 – $15,000 in shares of Intuit (NASDAQ:INTU) on 1/28/2025.
• Sold $1,001 – $15,000 in shares of PPG Industries (NYSE:PPG) on 1/27/2025.
• Purchased $1,001 – $15,000 in shares of Progressive (NYSE:PGR) on 1/24/2025.
• Purchased $1,001 – $15,000 in shares of The Goldman Sachs Group (NYSE:GS) on 1/24/2025.
• Sold $1,001 – $15,000 in shares of Chubb (NYSE:CB) on 1/24/2025.
• Sold $1,001 – $15,000 in shares of Morgan Stanley (NYSE:MS) on 1/24/2025.
• Purchased $1,001 – $15,000 in shares of Merck & Co., Inc. (NYSE:MRK) on 1/17/2025.
• Sold $1,001 – $15,000 in shares of Walmart (NYSE:WMT) on 1/17/2025.

ALLETE Price Performance

NYSE ALE traded up $0.14 during trading hours on Friday, reaching $65.30. 141,089 shares of the stock traded hands, compared to its average volume of 370,102. The stock has a 50 day simple moving average of $65.16 and a two-hundred day simple moving average of $64.51. ALLETE, Inc. has a 1 year low of $55.86 and a 1 year high of $65.99. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.45 and a quick ratio of 0.95. The company has a market cap of $3.78 billion, a price-to-earnings ratio of 20.93 and a beta of 0.80.

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 analysts’ consensus estimates of $1.02 by ($0.15). ALLETE had a net margin of 11.49% and a return on equity of 5.99%.

ALLETE Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be given a dividend of $0.73 per share. This is an increase from ALLETE’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a yield of 4.47%. ALLETE’s dividend payout ratio (DPR) is presently 90.38%.

Institutional Trading of ALLETE

Several large investors have recently modified their holdings of the business. Longfellow Investment Management Co. LLC purchased a new position in ALLETE during the 3rd quarter valued at $38,000. Jones Financial Companies Lllp increased its position 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 valued at $47,000 after buying an additional 172 shares during the period. Fifth Third Bancorp raised its stake in ALLETE by 32.9% in the fourth quarter. Fifth Third Bancorp now owns 876 shares of the utilities provider’s stock worth $57,000 after buying an additional 217 shares in the last quarter. Headlands Technologies LLC bought a new position in ALLETE in the fourth quarter worth about $73,000. Finally, Point72 Asia Singapore Pte. Ltd. lifted its holdings 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 worth $100,000 after buying an additional 370 shares during the period. 76.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

About Representative Johnson

Julie Johnson (Democratic Party) is a member of the U.S. House, representing Texas’ 32nd Congressional District. She assumed office on January 3, 2025. Her current term ends on January 3, 2027.

Johnson (Democratic Party) ran for election to the U.S. House to represent Texas’ 32nd Congressional District. She won in the general election on November 5, 2024.

Julie Johnson earned a B.A. in history and government from the University of Texas at Austin in 1987 and a J.D. from the University of Houston Law Center in 1991. Johnson’s career experience includes working as an attorney.

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.