ALLETE, Inc. (NYSE:ALE) Holdings Lifted by Olympiad Research LP

Olympiad Research LP lifted its stake in ALLETE, Inc. (NYSE:ALE) by 14.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 31,090 shares of the utilities provider’s stock after acquiring an additional 3,819 shares during the period. ALLETE accounts for approximately 2.1% of Olympiad Research LP’s portfolio, making the stock its 6th biggest position. Olympiad Research LP’s holdings in ALLETE were worth $2,015,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. State Street Corp grew its position in shares of ALLETE by 0.5% in the 3rd quarter. State Street Corp now owns 2,459,692 shares of the utilities provider’s stock valued at $157,888,000 after buying an additional 13,335 shares during the last quarter. Geode Capital Management LLC boosted its stake in ALLETE by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,395,362 shares of the utilities provider’s stock worth $89,584,000 after purchasing an additional 21,850 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in ALLETE by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 766,343 shares of the utilities provider’s stock worth $49,192,000 after purchasing an additional 7,739 shares during the period. Alpine Associates Management Inc. boosted its stake in ALLETE by 12.9% during the 3rd quarter. Alpine Associates Management Inc. now owns 398,047 shares of the utilities provider’s stock worth $25,551,000 after purchasing an additional 45,447 shares during the period. Finally, Rhumbline Advisers boosted its stake in ALLETE by 3.5% during the 4th quarter. Rhumbline Advisers now owns 209,532 shares of the utilities provider’s stock worth $13,578,000 after purchasing an additional 7,153 shares during the period. 76.55% of the stock is owned by hedge funds and other institutional investors.

ALLETE Stock Down 0.0 %

ALE stock opened at $65.44 on Friday. ALLETE, Inc. has a one year low of $55.86 and a one year high of $65.99. The stock has a market capitalization of $3.79 billion, a PE ratio of 21.11 and a beta of 0.80. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.69 and a current ratio of 1.08. The company has a fifty day moving average of $65.25 and a 200-day moving average of $64.56.

ALLETE (NYSE:ALE) last announced its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.87 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.15). ALLETE had a net margin of 11.72% and a return on equity of 5.97%.

ALLETE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be paid 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 annualized dividend and a dividend yield of 4.46%. ALLETE’s dividend payout ratio (DPR) is 94.19%.

Analyst Ratings Changes

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

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.