TIAA Trust National Association Has $276,000 Stock Holdings in ALLETE, Inc. (NYSE:ALE)

TIAA Trust National Association trimmed its position in ALLETE, Inc. (NYSE:ALE) by 28.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,253 shares of the utilities provider’s stock after selling 1,711 shares during the quarter. TIAA Trust National Association’s holdings in ALLETE were worth $276,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in ALLETE by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 766,343 shares of the utilities provider’s stock valued at $49,192,000 after buying an additional 7,739 shares during the period. Citigroup Inc. increased its holdings in shares of ALLETE by 28.3% during the 3rd quarter. Citigroup Inc. now owns 129,635 shares of the utilities provider’s stock worth $8,321,000 after acquiring an additional 28,612 shares during the last quarter. Polar Asset Management Partners Inc. raised its stake in ALLETE by 100.0% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 80,000 shares of the utilities provider’s stock valued at $5,135,000 after acquiring an additional 40,000 shares during the period. State Street Corp increased 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 valued at $157,888,000 after purchasing an additional 13,335 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in ALLETE during the fourth quarter worth approximately $380,000. 76.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on ALLETE in a research report on Friday, January 10th. They issued a “hold” rating on the stock.

ALLETE Stock Up 0.0 %

ALE opened at $65.68 on Friday. The stock has a fifty day moving average of $65.55 and a 200-day moving average of $64.88. The company has a market capitalization of $3.81 billion, a P/E ratio of 21.19 and a beta of 0.74. ALLETE, Inc. has a fifty-two week low of $56.66 and a fifty-two week high of $65.99. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.69 and a current ratio of 1.08.

ALLETE (NYSE:ALE) last posted its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.87 earnings per share (EPS) 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 business 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 of this dividend was Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a yield of 4.45%. This is an increase from ALLETE’s previous quarterly dividend of $0.71. ALLETE’s dividend 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.