Xponance Inc. Has $487,000 Stake in ALLETE, Inc. (NYSE:ALE)

Xponance Inc. reduced its stake in shares of ALLETE, Inc. (NYSE:ALE) by 5.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,805 shares of the utilities provider’s stock after selling 482 shares during the quarter. Xponance Inc.’s holdings in ALLETE were worth $487,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ALE. Parallel Advisors LLC lifted its position in ALLETE by 139.4% in the 4th quarter. Parallel Advisors LLC now owns 699 shares of the utilities provider’s stock worth $43,000 after buying an additional 407 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of ALLETE by 4,157.1% during the first quarter. Lazard Asset Management LLC now owns 1,192 shares of the utilities provider’s stock worth $71,000 after acquiring an additional 1,164 shares in the last quarter. Hantz Financial Services Inc. acquired a new stake in ALLETE during the second quarter valued at $75,000. Clear Street Markets LLC purchased a new position in ALLETE in the fourth quarter valued at about $92,000. Finally, GAMMA Investing LLC increased its position in ALLETE by 43.7% in 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. 76.55% of the stock is owned by hedge funds and other institutional investors.

ALLETE Trading Down 0.3 %

ALLETE stock opened at $64.19 on Tuesday. 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 $63.88 and its two-hundred day moving average price is $62.33. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.45 and a quick ratio of 0.83. The company has a market capitalization of $3.71 billion, a price-to-earnings ratio of 15.43 and a beta of 0.80.

ALLETE (NYSE:ALE) last posted 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). ALLETE had a return on equity of 7.07% and a net margin of 14.36%. The company had revenue of $354.50 million during the quarter, compared to analyst estimates of $547.24 million. During the same quarter last year, the firm posted $0.90 earnings per share. The firm’s revenue for the quarter was down 33.6% compared to the same quarter last year.

ALLETE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors 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 dividend on an annualized basis and a yield of 4.37%. ALLETE’s payout ratio is presently 67.79%.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on ALLETE in a report on Saturday. They set a “hold” rating for the company. Five research analysts have rated the stock with a hold rating, According to MarketBeat, the company has an average rating of “Hold” and an average target price of $62.00.

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.