DekaBank Deutsche Girozentrale Buys Shares of 10,891 ALLETE, Inc. (NYSE:ALE)

DekaBank Deutsche Girozentrale purchased a new stake in shares of ALLETE, Inc. (NYSE:ALE) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 10,891 shares of the utilities provider’s stock, valued at approximately $677,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Principal Securities Inc. purchased a new position in shares of ALLETE in the fourth quarter worth approximately $25,000. Parallel Advisors LLC boosted its stake in shares of ALLETE by 139.4% during the 4th 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. Lazard Asset Management LLC grew its position in shares of ALLETE by 4,157.1% during the 1st quarter. Lazard Asset Management LLC now owns 1,192 shares of the utilities provider’s stock valued at $71,000 after acquiring an additional 1,164 shares during the period. Hantz Financial Services Inc. purchased a new stake in shares of ALLETE in the 2nd quarter worth $75,000. Finally, Clear Street Markets LLC bought a new position in ALLETE in the 4th quarter worth $92,000. Hedge funds and other institutional investors own 76.55% of the company’s stock.

ALLETE Stock Up 0.2 %

Shares of ALE stock opened at $63.87 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.45 and a quick ratio of 0.83. ALLETE, Inc. has a one year low of $49.29 and a one year high of $65.86. The company’s fifty day moving average price is $63.83 and its 200-day moving average price is $61.94. The company has a market capitalization of $3.69 billion, a price-to-earnings ratio of 15.35 and a beta of 0.80.

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

ALLETE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were issued a dividend of $0.7005 per share. This represents a $2.80 dividend on an annualized basis and a 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%.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on ALLETE in a report on Friday. They set a “hold” rating for the company. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average 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.