Rep. Julie Johnson Sells ALLETE, Inc. (NYSE:ALE) Stock

Representative Julie Johnson (D-Texas) recently sold shares of ALLETE, Inc. (NYSE:ALE). In a filing disclosed on February 12th, the Representative disclosed that they had sold between $1,001 and $15,000 in ALLETE stock on January 28th. The trade occurred in the Representative’s “MERRILL LYNCH LONG TERM GROWTH” account.

Representative Julie Johnson also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Dell Technologies (NYSE:DELL) on 1/28/2025.
• Sold $1,001 – $15,000 in shares of PepsiCo (NASDAQ:PEP) on 1/28/2025.
• Sold $1,001 – $15,000 in shares of Intuit (NASDAQ:INTU) on 1/28/2025.
• Sold $1,001 – $15,000 in shares of PPG Industries (NYSE:PPG) on 1/27/2025.
• Purchased $1,001 – $15,000 in shares of Progressive (NYSE:PGR) on 1/24/2025.
• Purchased $1,001 – $15,000 in shares of The Goldman Sachs Group (NYSE:GS) on 1/24/2025.
• Sold $1,001 – $15,000 in shares of Chubb (NYSE:CB) on 1/24/2025.
• Sold $1,001 – $15,000 in shares of Morgan Stanley (NYSE:MS) on 1/24/2025.
• Purchased $1,001 – $15,000 in shares of Merck & Co., Inc. (NYSE:MRK) on 1/17/2025.
• Sold $1,001 – $15,000 in shares of Walmart (NYSE:WMT) on 1/17/2025.

ALLETE Trading Down 0.1 %

ALE opened at $65.85 on Friday. ALLETE, Inc. has a twelve month low of $55.86 and a twelve month high of $65.99. 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 company has a fifty day moving average of $65.16 and a 200-day moving average of $64.51. The stock has a market cap of $3.81 billion, a PE ratio of 21.10 and a beta of 0.80.

ALLETE (NYSE:ALE) last posted its quarterly earnings results 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 return on equity of 5.99% and a net margin of 11.49%.

ALLETE Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be given a dividend of $0.73 per share. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from ALLETE’s previous quarterly dividend of $0.71. This represents a $2.92 annualized dividend and a dividend yield of 4.43%. ALLETE’s dividend payout ratio is 93.59%.

Hedge Funds Weigh In On ALLETE

Several hedge funds have recently bought and sold shares of the company. Quest Partners LLC grew its stake in ALLETE by 249.1% in the 3rd quarter. Quest Partners LLC now owns 34,367 shares of the utilities provider’s stock worth $2,206,000 after buying an additional 24,523 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in ALLETE by 1.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 766,343 shares of the utilities provider’s stock worth $49,192,000 after buying an additional 7,739 shares in the last quarter. Citigroup Inc. grew its stake in ALLETE by 28.3% in the 3rd quarter. Citigroup Inc. now owns 129,635 shares of the utilities provider’s stock worth $8,321,000 after buying an additional 28,612 shares in the last quarter. Polar Asset Management Partners Inc. grew its stake in ALLETE by 100.0% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 80,000 shares of the utilities provider’s stock worth $5,135,000 after buying an additional 40,000 shares in the last quarter. Finally, State Street Corp grew its stake in ALLETE by 0.5% in the 3rd quarter. State Street Corp now owns 2,459,692 shares of the utilities provider’s stock worth $157,888,000 after buying an additional 13,335 shares in the last quarter. Hedge funds and other institutional investors own 76.55% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of ALLETE in a report on Friday, January 10th. They set a “hold” rating for the company.

About Representative Johnson

Julie Johnson (Democratic Party) is a member of the U.S. House, representing Texas’ 32nd Congressional District. She assumed office on January 3, 2025. Her current term ends on January 3, 2027.

Johnson (Democratic Party) ran for election to the U.S. House to represent Texas’ 32nd Congressional District. She won in the general election on November 5, 2024.

Julie Johnson earned a B.A. in history and government from the University of Texas at Austin in 1987 and a J.D. from the University of Houston Law Center in 1991. Johnson’s career experience includes working as an attorney.

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.