Pacer Advisors Inc. Reduces Stock Position in ALLETE, Inc. (NYSE:ALE)

Pacer Advisors Inc. lessened its position in shares of ALLETE, Inc. (NYSE:ALE) by 39.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,620 shares of the utilities provider’s stock after selling 5,617 shares during the quarter. Pacer Advisors Inc.’s holdings in ALLETE were worth $559,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in ALE. Glazer Capital LLC purchased a new stake in ALLETE during the 3rd quarter valued at about $5,766,000. Barclays PLC grew its stake in ALLETE by 187.1% during the 3rd quarter. Barclays PLC now owns 100,079 shares of the utilities provider’s stock valued at $6,425,000 after purchasing an additional 65,222 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of ALLETE by 107.8% in the third quarter. Jane Street Group LLC now owns 121,631 shares of the utilities provider’s stock worth $7,807,000 after buying an additional 63,091 shares during the last quarter. Verition Fund Management LLC boosted its stake in shares of ALLETE by 91.6% in the third quarter. Verition Fund Management LLC now owns 96,387 shares of the utilities provider’s stock worth $6,187,000 after buying an additional 46,089 shares during the last quarter. Finally, Alpine Associates Management Inc. boosted its stake in shares of ALLETE by 12.9% in the third quarter. Alpine Associates Management Inc. now owns 398,047 shares of the utilities provider’s stock worth $25,551,000 after buying an additional 45,447 shares during the last quarter. Hedge funds and other institutional investors own 76.55% of the company’s stock.

Analyst Ratings Changes

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

ALLETE Stock Up 0.1 %

Shares of ALE opened at $65.67 on Tuesday. The company has a market capitalization of $3.80 billion, a price-to-earnings ratio of 21.05 and a beta of 0.80. ALLETE, Inc. has a 52 week low of $55.86 and a 52 week high of $65.95. The company has a quick ratio of 0.95, a current ratio of 1.45 and a debt-to-equity ratio of 0.51. The stock’s 50-day moving average price is $65.02 and its 200-day moving average price is $64.43.

ALLETE Increases Dividend

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

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.