MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 4,496 Shares of ALLETE, Inc. (NYSE:ALE)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of ALLETE, Inc. (NYSE:ALE) by 11.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 43,406 shares of the utilities provider’s stock after purchasing an additional 4,496 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in ALLETE were worth $2,813,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Moore Capital Management LP boosted its stake in shares of ALLETE by 13.6% in the 4th quarter. Moore Capital Management LP now owns 25,000 shares of the utilities provider’s stock worth $1,620,000 after buying an additional 3,000 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of ALLETE by 13.6% during the 4th quarter. Lazard Asset Management LLC now owns 1,371 shares of the utilities provider’s stock worth $88,000 after purchasing an additional 164 shares during the period. LMR Partners LLP bought a new stake in shares of ALLETE during the 4th quarter worth $5,994,000. Lighthouse Investment Partners LLC purchased a new position in shares of ALLETE in the 4th quarter worth about $1,312,000. Finally, Fort Baker Capital Management LP bought a new position in ALLETE during the fourth quarter valued at about $17,301,000. Institutional investors own 76.55% of the company’s stock.

ALLETE Trading Up 0.1%

NYSE:ALE opened at $65.23 on Wednesday. ALLETE, Inc. has a 12 month low of $61.51 and a 12 month high of $65.99. The company has a current ratio of 1.08, a quick ratio of 0.69 and a debt-to-equity ratio of 0.50. The firm’s 50 day moving average is $65.25 and its 200 day moving average is $65.16. The stock has a market capitalization of $3.78 billion, a PE ratio of 21.04 and a beta of 0.82.

ALLETE (NYSE:ALE) last posted its earnings results on Thursday, May 8th. The utilities provider reported $1.01 earnings per share for the quarter, hitting the consensus estimate of $1.01. The firm had revenue of $400.20 million during the quarter, compared to the consensus estimate of $456.30 million. ALLETE had a net margin of 11.72% and a return on equity of 5.97%. The company’s revenue was down .8% on a year-over-year basis. During the same quarter last year, the company earned $0.90 earnings per share.

ALLETE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be given a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 4.48%. The ex-dividend date is Thursday, May 15th. ALLETE’s dividend payout ratio (DPR) is presently 91.54%.

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.