Y Intercept Hong Kong Ltd Acquires New Shares in ALLETE, Inc. (NYSE:ALE)

Y Intercept Hong Kong Ltd acquired a new position in ALLETE, Inc. (NYSE:ALE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,870 shares of the utilities provider’s stock, valued at approximately $380,000.

Other hedge funds have also recently bought and sold shares of the company. Longfellow Investment Management Co. LLC bought a new stake in ALLETE during the third quarter worth approximately $38,000. Fifth Third Bancorp lifted its stake in shares of ALLETE by 32.9% in the fourth 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. lifted its stake in shares of ALLETE by 31.0% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,563 shares of the utilities provider’s stock worth $100,000 after buying an additional 370 shares during the last quarter. KBC Group NV boosted its holdings in shares of ALLETE by 61.7% during the 4th 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 period. Finally, Meeder Asset Management Inc. grew its stake in ALLETE by 14.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 3,135 shares of the utilities provider’s stock valued at $201,000 after buying an additional 405 shares during the last quarter. 76.55% of the stock is owned by institutional investors and hedge funds.

ALLETE Price Performance

Shares of NYSE:ALE opened at $65.58 on Tuesday. The firm has a market capitalization of $3.80 billion, a PE ratio of 21.15 and a beta of 0.80. The company has a current ratio of 1.08, a quick ratio of 0.69 and a debt-to-equity ratio of 0.50. ALLETE, Inc. has a 1-year low of $56.45 and a 1-year high of $65.99. The business’s 50 day moving average is $65.37 and its 200-day moving average is $64.62.

ALLETE (NYSE:ALE) last posted 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 net margin of 11.72% and a return on equity of 5.97%.

ALLETE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Friday, February 14th were given a dividend of $0.73 per share. The ex-dividend date was Friday, February 14th. This is a positive change from ALLETE’s previous quarterly dividend of $0.71. This represents a $2.92 dividend on an annualized basis and a yield of 4.45%. ALLETE’s dividend payout ratio is 94.19%.

Wall Street Analysts Forecast Growth

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

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.