ALLETE, Inc. (NYSE:ALE) Shares Acquired by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lifted its holdings in ALLETE, Inc. (NYSE:ALE) by 147.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,607 shares of the utilities provider’s stock after buying an additional 50,361 shares during the period. Mutual of America Capital Management LLC owned approximately 0.15% of ALLETE worth $5,275,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the business. Principal Securities Inc. acquired a new position in shares of ALLETE during the 4th quarter worth approximately $25,000. Parallel Advisors LLC boosted its stake in ALLETE by 139.4% during the fourth quarter. Parallel Advisors LLC now owns 699 shares of the utilities provider’s stock worth $43,000 after buying an additional 407 shares during the last quarter. Lazard Asset Management LLC grew its holdings in ALLETE by 4,157.1% in the 1st quarter. Lazard Asset Management LLC now owns 1,192 shares of the utilities provider’s stock valued at $71,000 after buying an additional 1,164 shares in the last quarter. Hantz Financial Services Inc. acquired a new stake in shares of ALLETE in the 2nd quarter worth $75,000. Finally, Clear Street Markets LLC acquired a new stake in shares of ALLETE in the 4th quarter worth $92,000. Hedge funds and other institutional investors own 76.55% of the company’s stock.

ALLETE Trading Down 0.0 %

Shares of ALLETE stock opened at $63.85 on Friday. ALLETE, Inc. has a fifty-two week low of $49.29 and a fifty-two week high of $65.86. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.83 and a current ratio of 1.45. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of 15.32 and a beta of 0.80. The stock has a 50 day moving average of $63.83 and a 200 day moving average of $61.96.

ALLETE (NYSE:ALE) last issued its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.30). ALLETE had a return on equity of 7.07% and a net margin of 14.36%. The business had revenue of $354.50 million for the quarter, compared to analyst estimates of $547.24 million. During the same period in the previous year, the business posted $0.90 earnings per share. The firm’s revenue for the quarter was down 33.6% compared to the same quarter last year.

ALLETE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were given a dividend of $0.7005 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.39%. ALLETE’s payout ratio is currently 67.79%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of ALLETE in a report on Friday. They issued a “hold” rating for the company. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $62.00.

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.