ALLETE, Inc. (NYSE:ALE) Shares Sold by Huntington National Bank

Huntington National Bank lessened its position in shares of ALLETE, Inc. (NYSE:ALE) by 32.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,003 shares of the utilities provider’s stock after selling 475 shares during the quarter. Huntington National Bank’s holdings in ALLETE were worth $65,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. BNP Paribas Financial Markets raised its position in ALLETE by 31.7% during the third quarter. BNP Paribas Financial Markets now owns 19,470 shares of the utilities provider’s stock worth $1,250,000 after acquiring an additional 4,684 shares during the last quarter. State Street Corp raised its position in shares of ALLETE by 0.5% during the 3rd quarter. State Street Corp now owns 2,459,692 shares of the utilities provider’s stock worth $157,888,000 after purchasing an additional 13,335 shares during the last quarter. Wellington Management Group LLP lifted its stake in ALLETE by 0.9% in the 3rd quarter. Wellington Management Group LLP now owns 66,175 shares of the utilities provider’s stock valued at $4,248,000 after buying an additional 595 shares in the last quarter. Jane Street Group LLC grew its holdings in ALLETE by 107.8% during the 3rd quarter. Jane Street Group LLC now owns 121,631 shares of the utilities provider’s stock valued at $7,807,000 after buying an additional 63,091 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in ALLETE during the third quarter worth $779,000. 76.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on ALLETE in a research report on Friday, January 10th. They issued a “hold” rating on the stock.

ALLETE Stock Performance

Shares of ALE opened at $65.25 on Monday. ALLETE, Inc. has a 1 year low of $56.66 and a 1 year high of $65.99. The company’s 50 day simple moving average is $65.53 and its 200 day simple moving average is $64.95. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of 21.05 and a beta of 0.69. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.69 and a current ratio of 1.08.

ALLETE (NYSE:ALE) last issued its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.15). ALLETE had a return on equity of 5.97% and a net margin of 11.72%.

ALLETE Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Friday, February 14th were given a dividend of $0.73 per share. This is a positive change from ALLETE’s previous quarterly dividend of $0.71. The ex-dividend date was Friday, February 14th. This represents a $2.92 annualized dividend and a yield of 4.48%. ALLETE’s dividend payout ratio is 94.19%.

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.