Walleye Trading LLC purchased a new position in shares of ALLETE Inc (NYSE:ALE) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 8,101 shares of the utilities provider’s stock, valued at approximately $674,000.
Several other hedge funds and other institutional investors also recently modified their holdings of ALE. Geode Capital Management LLC lifted its holdings in shares of ALLETE by 4.6% during the fourth quarter. Geode Capital Management LLC now owns 659,457 shares of the utilities provider’s stock worth $50,263,000 after purchasing an additional 29,026 shares during the period. Raymond James & Associates raised its position in ALLETE by 0.9% in the first quarter. Raymond James & Associates now owns 83,944 shares of the utilities provider’s stock worth $6,903,000 after acquiring an additional 779 shares in the last quarter. New York State Common Retirement Fund raised its position in ALLETE by 0.4% in the first quarter. New York State Common Retirement Fund now owns 200,678 shares of the utilities provider’s stock worth $16,502,000 after acquiring an additional 835 shares in the last quarter. Piedmont Investment Advisors Inc. purchased a new position in ALLETE in the first quarter worth $242,000. Finally, First Trust Advisors LP raised its position in ALLETE by 7.8% in the first quarter. First Trust Advisors LP now owns 378,665 shares of the utilities provider’s stock worth $31,138,000 after acquiring an additional 27,531 shares in the last quarter. 71.80% of the stock is owned by hedge funds and other institutional investors.
In other ALLETE news, CEO Alan R. Hodnik sold 6,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $86.98, for a total value of $521,880.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.43% of the company’s stock.
NYSE:ALE traded down $0.53 during trading hours on Friday, hitting $87.48. The company’s stock had a trading volume of 113,461 shares, compared to its average volume of 200,151. The business’s 50-day moving average is $85.88 and its two-hundred day moving average is $83.96. The company has a market capitalization of $4.53 billion, a PE ratio of 24.23, a PEG ratio of 3.33 and a beta of 0.22. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.08 and a current ratio of 1.34. ALLETE Inc has a 52-week low of $72.42 and a 52-week high of $88.60.
ALLETE (NYSE:ALE) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.66. The firm had revenue of $290.40 million during the quarter, compared to analysts’ expectations of $349.00 million. ALLETE had a return on equity of 9.14% and a net margin of 13.61%. ALLETE’s revenue was down 15.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.61 earnings per share. As a group, analysts predict that ALLETE Inc will post 3.65 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were given a $0.5875 dividend. This represents a $2.35 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend was Wednesday, August 14th. ALLETE’s payout ratio is 65.10%.
ALLETE, Inc operates as an energy company. The company operates through three segments: Regulated Operations, ALLETE Clean Energy, and U.S. Water Services. It generates electricity from coal-fired, wind, hydroelectric, natural gas-fired, biomass co-fired, solar, and other sources. The company provides regulated utility electric, natural gas, and water 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 145,000 retail customers and 16 non-affiliated municipal customers.
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