Deutsche Bank AG Increases Stock Holdings in ALLETE, Inc. (NYSE:ALE)

Deutsche Bank AG lifted its stake in ALLETE, Inc. (NYSE:ALE) by 53.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 47,553 shares of the utilities provider’s stock after purchasing an additional 16,500 shares during the quarter. Deutsche Bank AG owned about 0.08% of ALLETE worth $3,081,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ALE. Jones Financial Companies Lllp boosted its holdings in ALLETE by 30.9% during the 4th quarter. Jones Financial Companies Lllp now owns 729 shares of the utilities provider’s stock valued at $47,000 after acquiring an additional 172 shares during the period. Fifth Third Bancorp raised its stake in ALLETE by 32.9% in the fourth quarter. Fifth Third Bancorp now owns 876 shares of the utilities provider’s stock valued at $57,000 after buying an additional 217 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of ALLETE in the fourth quarter valued at about $73,000. Covestor Ltd increased its holdings in shares of ALLETE by 38.0% in the fourth quarter. Covestor Ltd now owns 2,410 shares of the utilities provider’s stock valued at $156,000 after purchasing an additional 663 shares during the period. Finally, KBC Group NV increased its holdings in shares of ALLETE by 61.7% in the fourth quarter. KBC Group NV now owns 2,431 shares of the utilities provider’s stock valued at $158,000 after purchasing an additional 928 shares during the period. Hedge funds and other institutional investors own 76.55% of the company’s stock.

ALLETE Stock Up 0.1%

ALLETE stock opened at $65.23 on Wednesday. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of 21.04 and a beta of 0.82. ALLETE, Inc. has a 52 week low of $61.51 and a 52 week high of $65.99. The business’s 50-day moving average price is $65.25 and its 200 day moving average price is $65.16. The company has a quick ratio of 0.69, a current ratio of 1.08 and a debt-to-equity ratio of 0.50.

ALLETE (NYSE:ALE) last issued its quarterly earnings data on Thursday, May 8th. The utilities provider reported $1.01 EPS for the quarter, meeting the consensus estimate of $1.01. The company had revenue of $400.20 million for the quarter, compared to analyst estimates of $456.30 million. ALLETE had a return on equity of 5.97% and a net margin of 11.72%. ALLETE’s quarterly revenue was down .8% compared to the same quarter last year. During the same period last year, the company earned $0.90 earnings per share.

ALLETE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th will be issued a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 4.48%. The ex-dividend date is Thursday, May 15th. ALLETE’s payout ratio is currently 91.54%.

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.