ALLETE, Inc. (NYSE:ALE) Shares Bought by Pacer Advisors Inc.

Pacer Advisors Inc. lifted its position in shares of ALLETE, Inc. (NYSE:ALE) by 64.2% in the second quarter, Holdings Channel reports. The institutional investor owned 14,063 shares of the utilities provider’s stock after acquiring an additional 5,499 shares during the quarter. Pacer Advisors Inc.’s holdings in ALLETE were worth $877,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Parallel Advisors LLC grew its position in ALLETE by 139.4% in 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 period. Lazard Asset Management LLC lifted its stake in shares of ALLETE by 4,157.1% in the 1st quarter. Lazard Asset Management LLC now owns 1,192 shares of the utilities provider’s stock valued at $71,000 after purchasing an additional 1,164 shares during the last quarter. Hantz Financial Services Inc. acquired a new position in shares of ALLETE in the 2nd quarter valued at $75,000. Clear Street Markets LLC purchased a new position in shares of ALLETE during the 4th quarter worth $92,000. Finally, GAMMA Investing LLC increased its position in shares of ALLETE by 43.7% during the 1st quarter. GAMMA Investing LLC now owns 1,869 shares of the utilities provider’s stock worth $111,000 after purchasing an additional 568 shares during 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 initiated coverage on shares of ALLETE in a research report on Saturday. They issued a “hold” rating on the stock. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $62.00.

ALLETE Trading Up 0.2 %

Shares of NYSE ALE opened at $64.36 on Friday. The company has a current ratio of 1.45, a quick ratio of 0.83 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $3.72 billion, a PE ratio of 15.47 and a beta of 0.80. ALLETE, Inc. has a twelve month low of $49.29 and a twelve month high of $65.86. The stock has a fifty day simple moving average of $63.89 and a 200-day simple moving average of $62.25.

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

ALLETE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were paid a $0.7005 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.80 annualized dividend and a dividend yield of 4.35%. ALLETE’s dividend payout ratio (DPR) is 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.