UBS Group AG Has $6.95 Million Holdings in ALLETE, Inc. (NYSE:ALE)

UBS Group AG boosted its position in ALLETE, Inc. (NYSE:ALEFree Report) by 41.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 113,570 shares of the utilities provider’s stock after buying an additional 33,029 shares during the period. UBS Group AG owned approximately 0.20% of ALLETE worth $6,946,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of ALLETE by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 6,402,795 shares of the utilities provider’s stock valued at $338,068,000 after purchasing an additional 130,113 shares during the period. FMR LLC lifted its stake in ALLETE by 0.5% in the third quarter. FMR LLC now owns 1,254,365 shares of the utilities provider’s stock valued at $66,230,000 after buying an additional 6,421 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of ALLETE by 2.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 888,731 shares of the utilities provider’s stock worth $54,355,000 after buying an additional 24,690 shares in the last quarter. Invesco Ltd. grew its position in shares of ALLETE by 13.9% during the 3rd quarter. Invesco Ltd. now owns 829,564 shares of the utilities provider’s stock worth $43,801,000 after buying an additional 101,229 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of ALLETE by 3.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 716,941 shares of the utilities provider’s stock valued at $43,848,000 after acquiring an additional 22,139 shares in the last quarter. Institutional investors own 76.55% of the company’s stock.

ALLETE Trading Up 0.7 %

NYSE:ALE opened at $63.51 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.66 and a quick ratio of 0.96. ALLETE, Inc. has a one year low of $49.29 and a one year high of $65.86. The company has a market cap of $3.66 billion, a PE ratio of 15.27 and a beta of 0.79. The firm has a 50-day moving average of $61.05 and a 200-day moving average of $59.64.

ALLETE (NYSE:ALEGet Free Report) last issued its quarterly earnings data on Thursday, May 9th. The utilities provider reported $0.97 EPS 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 the consensus estimate of $581.26 million. ALLETE had a return on equity of 7.21% and a net margin of 13.94%. As a group, equities research analysts expect that ALLETE, Inc. will post 3.75 EPS for the current fiscal year.

ALLETE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 15th were given a $0.705 dividend. This represents a $2.82 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date of this dividend was Tuesday, May 14th. ALLETE’s payout ratio is currently 67.79%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ALE shares. Mizuho raised their price target on shares of ALLETE from $57.00 to $67.00 and gave the stock a “neutral” rating in a report on Thursday, May 16th. Wells Fargo & Company boosted their target price on ALLETE from $57.00 to $59.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 21st. Finally, StockNews.com initiated coverage on ALLETE in a report on Friday, May 31st. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $60.40.

View Our Latest Research Report on ALE

ALLETE Company Profile

(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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