ALLETE, Inc. (NYSE:ALE) Shares Bought by Cwm LLC

Cwm LLC grew its stake in shares of ALLETE, Inc. (NYSE:ALE) by 22.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,407 shares of the utilities provider’s stock after purchasing an additional 634 shares during the quarter. Cwm LLC’s holdings in ALLETE were worth $203,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of ALE. Vanguard Group Inc. increased its position in shares of ALLETE by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 6,579,504 shares of the utilities provider’s stock worth $402,402,000 after acquiring an additional 176,709 shares during the last quarter. FMR LLC increased its position in shares of ALLETE by 0.5% during the third quarter. FMR LLC now owns 1,254,365 shares of the utilities provider’s stock worth $66,230,000 after acquiring an additional 6,421 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of ALLETE by 2.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 888,731 shares of the utilities provider’s stock worth $54,355,000 after acquiring an additional 24,690 shares during the last quarter. Invesco Ltd. increased its position in shares of ALLETE by 13.9% during the third quarter. Invesco Ltd. now owns 829,564 shares of the utilities provider’s stock worth $43,801,000 after acquiring an additional 101,229 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of ALLETE by 3.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 716,941 shares of the utilities provider’s stock worth $43,848,000 after acquiring an additional 22,139 shares during the last quarter. Institutional investors and hedge funds own 76.55% of the company’s stock.

ALLETE Stock Up 0.3 %

Shares of ALLETE stock opened at $62.91 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.66 and a debt-to-equity ratio of 0.52. The firm has a market cap of $3.62 billion, a P/E ratio of 15.12 and a beta of 0.79. ALLETE, Inc. has a fifty-two week low of $49.29 and a fifty-two week high of $65.86. The business has a 50-day moving average price of $61.96 and a 200 day moving average price of $60.26.

ALLETE (NYSE:ALE) last announced its quarterly earnings data on Thursday, May 9th. The utilities provider reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.12). ALLETE had a net margin of 13.94% and a return on equity of 7.21%. The firm had revenue of $403.30 million during the quarter, compared to the consensus estimate of $581.26 million. On average, sell-side analysts forecast that ALLETE, Inc. will post 3.75 earnings per share for the current fiscal year.

ALLETE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th were paid a $0.705 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $2.82 dividend on an annualized basis and a yield of 4.48%. ALLETE’s payout ratio is currently 67.79%.

Analyst Ratings Changes

A number of analysts have recently issued reports on ALE shares. StockNews.com started coverage on ALLETE in a research report on Sunday, June 16th. They set a “hold” rating on the stock. Mizuho lifted their target price on ALLETE from $57.00 to $67.00 and gave the stock a “neutral” rating in a research report on Thursday, May 16th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $60.40.

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.