Cibc World Markets Corp Acquires Shares of 5,435 ALLETE, Inc. (NYSE:ALE)

Cibc World Markets Corp bought a new position in ALLETE, Inc. (NYSE:ALE) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 5,435 shares of the utilities provider’s stock, valued at approximately $352,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Longfellow Investment Management Co. LLC bought a new stake in ALLETE during the third quarter worth $38,000. Jones Financial Companies Lllp increased its position in shares of ALLETE by 30.9% during the 4th quarter. Jones Financial Companies Lllp now owns 729 shares of the utilities provider’s stock valued at $47,000 after purchasing an additional 172 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of ALLETE by 32.9% in the 4th quarter. Fifth Third Bancorp now owns 876 shares of the utilities provider’s stock worth $57,000 after buying an additional 217 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in ALLETE by 31.0% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,563 shares of the utilities provider’s stock valued at $100,000 after buying an additional 370 shares during the period. Finally, KBC Group NV increased its holdings in ALLETE by 61.7% during the fourth quarter. KBC Group NV now owns 2,431 shares of the utilities provider’s stock worth $158,000 after buying an additional 928 shares during the last quarter. Hedge funds and other institutional investors own 76.55% of the company’s stock.

Analyst Ratings Changes

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

ALLETE Stock Up 0.0 %

Shares of NYSE ALE opened at $65.70 on Tuesday. 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 stock has a market capitalization of $3.81 billion, a PE ratio of 21.19 and a beta of 0.74. ALLETE, Inc. has a one year low of $56.66 and a one year high of $65.99. The business’s fifty day moving average price is $65.55 and its 200-day moving average price is $64.84.

ALLETE (NYSE:ALE) last issued its earnings results on Tuesday, February 18th. The utilities provider reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.15). ALLETE had a return on equity of 5.97% and a net margin of 11.72%.

ALLETE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Friday, February 14th were issued a dividend of $0.73 per share. This is a boost from ALLETE’s previous quarterly dividend of $0.71. The ex-dividend date was Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a yield of 4.44%. ALLETE’s payout ratio is presently 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.