ALLETE, Inc. (NYSE:ALE) Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC decreased its position in shares of ALLETE, Inc. (NYSE:ALE) by 6.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,622 shares of the utilities provider’s stock after selling 873 shares during the quarter. Natixis Advisors LLC’s holdings in ALLETE were worth $849,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Congress Asset Management Co. MA boosted its holdings in ALLETE by 1.3% in the 1st quarter. Congress Asset Management Co. MA now owns 18,431 shares of the utilities provider’s stock valued at $1,099,000 after purchasing an additional 233 shares during the last quarter. Independent Advisor Alliance lifted its holdings in ALLETE by 6.3% in the fourth quarter. Independent Advisor Alliance now owns 4,213 shares of the utilities provider’s stock valued at $258,000 after acquiring an additional 249 shares during the last quarter. Louisiana State Employees Retirement System grew its position in ALLETE by 2.5% in the first quarter. Louisiana State Employees Retirement System now owns 16,500 shares of the utilities provider’s stock worth $984,000 after acquiring an additional 400 shares during the period. State of Michigan Retirement System grew its position in ALLETE by 2.9% in the first quarter. State of Michigan Retirement System now owns 14,146 shares of the utilities provider’s stock worth $844,000 after acquiring an additional 400 shares during the period. Finally, Parallel Advisors LLC increased 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 acquiring an additional 407 shares during the last quarter. Hedge funds and other institutional investors own 76.55% of the company’s stock.

Wall Street Analyst Weigh In

ALE has been the subject of a number of research analyst reports. Mizuho increased their price target on ALLETE from $57.00 to $67.00 and gave the stock a “neutral” rating in a report on Thursday, May 16th. StockNews.com started coverage on shares of ALLETE in a research report on Thursday. They issued a “hold” rating on the stock. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $62.00.

ALLETE Trading Down 0.2 %

ALE opened at $63.78 on Thursday. ALLETE, Inc. has a 52 week low of $49.29 and a 52 week high of $65.86. The company has a quick ratio of 0.83, a current ratio of 1.45 and a debt-to-equity ratio of 0.51. The business has a fifty day simple moving average of $63.69 and a 200-day simple moving average of $61.69. The firm has a market cap of $3.68 billion, a P/E ratio of 15.33 and a beta of 0.80.

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

ALLETE Announces Dividend

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

ALLETE 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.