FIL Ltd Has $18.36 Million Holdings in ALLETE, Inc. (NYSE:ALE)

FIL Ltd boosted its position in shares of ALLETE, Inc. (NYSE:ALE) by 0.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 283,312 shares of the utilities provider’s stock after buying an additional 316 shares during the period. FIL Ltd owned approximately 0.49% of ALLETE worth $18,359,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in ALLETE by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 6,365,190 shares of the utilities provider’s stock valued at $412,464,000 after buying an additional 20,624 shares in the last quarter. State Street Corp lifted its holdings in shares of ALLETE by 0.5% in the third quarter. State Street Corp now owns 2,459,692 shares of the utilities provider’s stock worth $157,888,000 after acquiring an additional 13,335 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of ALLETE by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,395,362 shares of the utilities provider’s stock valued at $89,584,000 after purchasing an additional 21,850 shares in the last quarter. Highbridge Capital Management LLC bought a new stake in shares of ALLETE during the 4th quarter valued at approximately $54,592,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of ALLETE by 2.6% during the 4th 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 during the last quarter. 76.55% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on ALLETE in a report on Friday, January 10th. They issued a “hold” rating for the company.

ALLETE Stock Down 0.4 %

Shares of NYSE:ALE opened at $64.35 on Friday. ALLETE, Inc. has a 1 year low of $56.66 and a 1 year high of $65.99. 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 business’s 50-day moving average is $65.40 and its 200-day moving average is $64.97. The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of 20.76 and a beta of 0.69.

ALLETE (NYSE:ALE) last released its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.87 earnings per share 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Friday, February 14th were issued 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 was Friday, February 14th. This represents a $2.92 annualized dividend and a dividend yield of 4.54%. ALLETE’s 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.