Trexquant Investment LP Sells 22,887 Shares of ALLETE, Inc. (NYSE:ALE)

Trexquant Investment LP lessened its stake in shares of ALLETE, Inc. (NYSE:ALEFree Report) by 79.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,933 shares of the utilities provider’s stock after selling 22,887 shares during the period. Trexquant Investment LP’s holdings in ALLETE were worth $363,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ALE. Arizona State Retirement System raised its stake in shares of ALLETE by 1.4% during the third quarter. Arizona State Retirement System now owns 16,319 shares of the utilities provider’s stock valued at $862,000 after acquiring an additional 221 shares in the last quarter. Boston Partners increased its holdings in ALLETE by 4.9% during the third quarter. Boston Partners now owns 15,473 shares of the utilities provider’s stock valued at $817,000 after buying an additional 724 shares during the period. Swiss National Bank increased its holdings in ALLETE by 1.0% during the third quarter. Swiss National Bank now owns 126,000 shares of the utilities provider’s stock valued at $6,653,000 after buying an additional 1,200 shares during the period. Spire Wealth Management increased its holdings in ALLETE by 381.3% during the third quarter. Spire Wealth Management now owns 900 shares of the utilities provider’s stock valued at $48,000 after buying an additional 713 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in ALLETE by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 694,802 shares of the utilities provider’s stock valued at $36,686,000 after buying an additional 21,938 shares during the period. Institutional investors own 76.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Mizuho lifted their price objective on shares of ALLETE from $57.00 to $67.00 and gave the company a “neutral” rating in a report on Thursday, May 16th. StockNews.com initiated coverage on shares of ALLETE in a report on Friday. They set a “hold” rating on the stock. Finally, Wells Fargo & Company lifted their price target on shares of ALLETE from $57.00 to $59.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $60.40.

Check Out Our Latest Report on ALLETE

ALLETE Price Performance

NYSE ALE opened at $62.87 on Tuesday. The firm’s fifty day simple moving average is $60.94 and its two-hundred day simple moving average is $59.59. The company has a current ratio of 1.66, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. ALLETE, Inc. has a 12-month low of $49.29 and a 12-month high of $65.86. The firm has a market capitalization of $3.62 billion, a P/E ratio of 15.11 and a beta of 0.79.

ALLETE (NYSE:ALEGet Free Report) last announced its quarterly earnings data on Thursday, May 9th. The utilities provider reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.12). The company had revenue of $403.30 million for the quarter, compared to analysts’ expectations of $581.26 million. ALLETE had a net margin of 13.94% and a return on equity of 7.21%. Analysts forecast that ALLETE, Inc. will post 3.75 EPS for the current fiscal year.

ALLETE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th were issued a dividend of $0.705 per share. This represents a $2.82 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date was Tuesday, May 14th. ALLETE’s dividend payout ratio (DPR) is presently 67.79%.

About ALLETE

(Free Report)

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.

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Institutional Ownership by Quarter for ALLETE (NYSE:ALE)

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