Intech Investment Management LLC Boosts Stake in ALLETE, Inc. (NYSE:ALE)

Intech Investment Management LLC raised its position in ALLETE, Inc. (NYSE:ALE) by 198.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,185 shares of the utilities provider’s stock after purchasing an additional 19,422 shares during the quarter. Intech Investment Management LLC owned 0.05% of ALLETE worth $1,891,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in ALE. Jones Financial Companies Lllp lifted its stake in ALLETE by 30.9% during the 4th quarter. Jones Financial Companies Lllp now owns 729 shares of the utilities provider’s stock worth $47,000 after acquiring an additional 172 shares in the last quarter. Fifth Third Bancorp increased its stake 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 purchasing an additional 217 shares during the period. Exchange Traded Concepts LLC increased its stake in ALLETE by 2.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 11,786 shares of the utilities provider’s stock worth $764,000 after purchasing an additional 295 shares during the period. D.A. Davidson & CO. lifted its position in shares of ALLETE by 1.9% during the third quarter. D.A. Davidson & CO. now owns 16,844 shares of the utilities provider’s stock worth $1,081,000 after purchasing an additional 315 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of 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. 76.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

ALLETE Trading Up 0.1 %

ALE opened at $65.73 on Friday. The business has a fifty day moving average price of $65.53 and a 200 day moving average price of $64.79. 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 12 month low of $56.66 and a 12 month high of $65.99. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of 21.20 and a beta of 0.74.

ALLETE (NYSE:ALE) last announced its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.87 EPS for the quarter, missing analysts’ consensus estimates 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 company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Friday, February 14th were given a $0.73 dividend. The ex-dividend date was Friday, February 14th. This is an increase from ALLETE’s previous quarterly dividend of $0.71. This represents a $2.92 dividend on an annualized basis and a dividend yield of 4.44%. ALLETE’s dividend payout ratio is currently 94.19%.

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.