Dynamic Technology Lab Private Ltd Takes $311,000 Position in ALLETE, Inc. (NYSE:ALE)

Dynamic Technology Lab Private Ltd purchased a new position in ALLETE, Inc. (NYSE:ALE) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 4,810 shares of the utilities provider’s stock, valued at approximately $311,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Jones Financial Companies Lllp lifted 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 buying an additional 172 shares in the last quarter. Fifth Third Bancorp increased its stake 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 acquiring an additional 217 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of ALLETE during the 4th quarter worth about $73,000. KBC Group NV increased its position 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 purchasing an additional 928 shares during the last quarter. Finally, Alerus Financial NA acquired a new stake in shares of ALLETE during the 4th quarter worth about $202,000. Institutional investors and hedge funds own 76.55% of the company’s stock.

ALLETE Trading Up 0.8 %

NYSE:ALE opened at $65.08 on Thursday. The stock’s 50 day simple moving average is $65.45 and its 200-day simple moving average is $64.96. ALLETE, Inc. has a 12-month low of $56.66 and a 12-month high of $65.99. The firm has a market cap of $3.77 billion, a P/E ratio of 20.99 and a beta of 0.69. 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 (NYSE:ALE) last posted its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.87 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 announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Friday, February 14th were issued a dividend of $0.73 per share. This is an increase from ALLETE’s previous quarterly dividend of $0.71. This represents a $2.92 annualized dividend and a dividend yield of 4.49%. The ex-dividend date was Friday, February 14th. ALLETE’s dividend payout ratio (DPR) is presently 94.19%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on ALLETE in a research note on Friday, January 10th. They issued a “hold” rating for the company.

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.