One68 Global Capital LLC Invests $666,000 in ALLETE, Inc. (NYSE:ALE)

One68 Global Capital LLC acquired a new stake in ALLETE, Inc. (NYSE:ALE) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 10,275 shares of the utilities provider’s stock, valued at approximately $666,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in ALLETE by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 6,365,190 shares of the utilities provider’s stock valued at $412,464,000 after purchasing an additional 20,624 shares during the last quarter. Highbridge Capital Management LLC purchased a new stake in shares of ALLETE during the fourth quarter worth $54,592,000. Charles Schwab Investment Management Inc. grew its position in shares of ALLETE by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 786,588 shares of the utilities provider’s stock valued at $50,971,000 after purchasing an additional 20,245 shares in the last quarter. Northern Trust Corp raised its stake in shares of ALLETE by 14.1% during the 4th quarter. Northern Trust Corp now owns 758,828 shares of the utilities provider’s stock valued at $49,172,000 after purchasing an additional 93,810 shares during the period. Finally, Neuberger Berman Group LLC boosted its stake in ALLETE by 8.3% in the 4th quarter. Neuberger Berman Group LLC now owns 398,673 shares of the utilities provider’s stock worth $25,825,000 after purchasing an additional 30,479 shares during the period. 76.55% of the stock is owned by hedge funds and other institutional investors.

ALLETE Stock Up 0.0 %

ALE stock opened at $65.27 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 1.08 and a debt-to-equity ratio of 0.50. The business has a 50 day moving average of $65.26 and a 200 day moving average of $65.04. ALLETE, Inc. has a twelve month low of $59.00 and a twelve month high of $65.99. The firm has a market cap of $3.78 billion, a PE ratio of 21.05 and a beta of 0.69.

ALLETE (NYSE:ALE) last posted its earnings results 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be issued a $0.73 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $2.92 dividend on an annualized basis and a yield of 4.47%. ALLETE’s dividend payout ratio is presently 94.19%.

Analyst Ratings Changes

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

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.