Boston Partners Has $817,000 Stock Position in ALLETE, Inc. (NYSE:ALE)

Boston Partners raised its position in ALLETE, Inc. (NYSE:ALEFree Report) by 4.9% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 15,473 shares of the utilities provider’s stock after acquiring an additional 724 shares during the period. Boston Partners’ holdings in ALLETE were worth $817,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its stake in shares of ALLETE by 20.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,122 shares of the utilities provider’s stock worth $65,000 after purchasing an additional 192 shares in the last quarter. CWM LLC increased its holdings in shares of ALLETE by 25.4% during the 2nd quarter. CWM LLC now owns 1,008 shares of the utilities provider’s stock worth $58,000 after acquiring an additional 204 shares during the last quarter. Creative Planning increased its holdings in shares of ALLETE by 4.4% during the 2nd quarter. Creative Planning now owns 4,901 shares of the utilities provider’s stock worth $284,000 after acquiring an additional 205 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in shares of ALLETE by 31.8% during the 2nd quarter. Quadrant Capital Group LLC now owns 904 shares of the utilities provider’s stock worth $52,000 after acquiring an additional 218 shares during the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of ALLETE by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 16,319 shares of the utilities provider’s stock worth $862,000 after acquiring an additional 221 shares during the last quarter. Institutional investors own 75.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ALE. Sidoti lowered ALLETE from a “buy” rating to a “neutral” rating and set a $64.00 target price on the stock. in a report on Wednesday, January 10th. Guggenheim raised ALLETE from a “sell” rating to a “neutral” rating and set a $58.00 target price on the stock in a report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $58.50.

Get Our Latest Stock Analysis on ALE

ALLETE Stock Up 0.1 %

Shares of ALE opened at $58.25 on Thursday. ALLETE, Inc. has a 12 month low of $49.29 and a 12 month high of $66.69. The firm’s 50 day moving average is $60.27 and its 200-day moving average is $56.87. The stock has a market capitalization of $3.35 billion, a PE ratio of 13.52, a P/E/G ratio of 1.74 and a beta of 0.77. The company has a current ratio of 1.22, a quick ratio of 0.78 and a debt-to-equity ratio of 0.50.

ALLETE Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Thursday, February 15th will be issued a dividend of $0.705 per share. The ex-dividend date is Wednesday, February 14th. This is a boost from ALLETE’s previous quarterly dividend of $0.68. This represents a $2.82 annualized dividend and a dividend yield of 4.84%. ALLETE’s dividend payout ratio (DPR) is currently 62.88%.

ALLETE Profile

(Free Report)

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. 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.

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Institutional Ownership by Quarter for ALLETE (NYSE:ALE)

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