ALLETE, Inc. (NYSE:ALE) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP reduced its holdings in ALLETE, Inc. (NYSE:ALE) by 0.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,650 shares of the utilities provider’s stock after selling 525 shares during the quarter. Wellington Management Group LLP owned 0.11% of ALLETE worth $4,254,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jones Financial Companies Lllp raised its holdings in shares of ALLETE by 30.9% in the 4th quarter. Jones Financial Companies Lllp now owns 729 shares of the utilities provider’s stock worth $47,000 after purchasing an additional 172 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of ALLETE in the 4th quarter worth approximately $72,000. Headlands Technologies LLC bought a new stake in shares of ALLETE in the 4th quarter worth approximately $73,000. Lazard Asset Management LLC raised its holdings in shares of ALLETE by 13.6% in the 4th quarter. Lazard Asset Management LLC now owns 1,371 shares of the utilities provider’s stock worth $88,000 after purchasing an additional 164 shares in the last quarter. Finally, Covestor Ltd raised its holdings in shares of ALLETE by 38.0% in the 4th quarter. Covestor Ltd now owns 2,410 shares of the utilities provider’s stock worth $156,000 after purchasing an additional 663 shares in the last quarter. 76.55% of the stock is currently owned by institutional investors.

ALLETE Stock Down 0.2%

ALE stock opened at $65.21 on Thursday. ALLETE, Inc. has a 52-week low of $61.51 and a 52-week high of $65.99. The company’s 50 day simple moving average is $65.14 and its 200-day simple moving average is $65.18. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.08 and a quick ratio of 0.69. The firm has a market capitalization of $3.78 billion, a P/E ratio of 21.04 and a beta of 0.82.

ALLETE (NYSE:ALE) last released its quarterly earnings results on Thursday, May 8th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.01. The business had revenue of $400.20 million for the quarter, compared to analyst estimates of $456.30 million. ALLETE had a net margin of 11.72% and a return on equity of 5.97%. The firm’s revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.90 earnings per share.

ALLETE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th were paid a $0.73 dividend. The ex-dividend date was Thursday, May 15th. This represents a $2.92 annualized dividend and a yield of 4.48%. ALLETE’s dividend payout ratio is presently 91.54%.

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.