ALLETE, Inc. (NYSE:ALE) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC decreased its stake in shares of ALLETE, Inc. (NYSE:ALE) by 9.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,967 shares of the utilities provider’s stock after selling 1,001 shares during the period. Janney Montgomery Scott LLC’s holdings in ALLETE were worth $646,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Longfellow Investment Management Co. LLC bought a new stake in shares of ALLETE in the 3rd quarter worth approximately $38,000. UMB Bank n.a. raised its position in shares of ALLETE by 261.0% during the 3rd quarter. UMB Bank n.a. now owns 1,083 shares of the utilities provider’s stock worth $70,000 after buying an additional 783 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its position in 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 purchasing an additional 370 shares during the period. Meeder Asset Management Inc. boosted its stake in ALLETE by 14.8% during the third 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 in the last quarter. Finally, Royce & Associates LP bought a new position in shares of ALLETE during the 3rd quarter valued at about $202,000. Institutional investors and hedge funds own 76.55% of the company’s stock.

Wall Street Analyst Weigh In

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

ALLETE Trading Down 0.1 %

Shares of NYSE ALE opened at $65.58 on Friday. The firm has a market capitalization of $3.79 billion, a PE ratio of 21.02 and a beta of 0.80. The company has a current ratio of 1.45, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average price of $65.07 and a two-hundred day moving average price of $64.47. ALLETE, Inc. has a one year low of $55.86 and a one year high of $65.95.

ALLETE Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be paid a $0.73 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from ALLETE’s previous quarterly dividend of $0.71. This represents a $2.92 dividend on an annualized basis and a dividend yield of 4.45%. ALLETE’s dividend payout ratio is 90.38%.

About ALLETE

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.