Arizona State Retirement System Has $1.09 Million Stock Holdings in Allete, Inc. (NYSE:ALE)

Arizona State Retirement System cut its holdings in Allete, Inc. (NYSE:ALE) by 1.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,585 shares of the utilities provider’s stock after selling 182 shares during the period. Arizona State Retirement System’s holdings in Allete were worth $1,090,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. UMB Bank n.a. lifted its holdings in shares of Allete by 78.0% during the 1st quarter. UMB Bank n.a. now owns 534 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 234 shares during the period. Hexagon Capital Partners LLC raised its position in Allete by 44.5% in the first quarter. Hexagon Capital Partners LLC now owns 591 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 182 shares in the last quarter. Cherry Tree Wealth Management LLC bought a new position in Allete during the first quarter worth about $49,000. Sound Income Strategies LLC lifted its stake in Allete by 646.7% during the first quarter. Sound Income Strategies LLC now owns 911 shares of the utilities provider’s stock worth $60,000 after purchasing an additional 789 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in Allete during the fourth quarter valued at approximately $72,000. Institutional investors and hedge funds own 76.55% of the company’s stock.

Allete Stock Down 0.0%

Shares of NYSE:ALE opened at $65.64 on Monday. Allete, Inc. has a 52 week low of $63.00 and a 52 week high of $66.46. The company has a market capitalization of $3.81 billion, a PE ratio of 20.58 and a beta of 0.79. The company’s fifty day moving average is $64.98 and its 200-day moving average is $65.23. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.81 and a current ratio of 1.26.

Allete (NYSE:ALE) last issued its quarterly earnings results on Thursday, May 8th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.01. The business had revenue of $400.20 million for the quarter, compared to the consensus estimate of $456.30 million. Allete had a net margin of 12.10% and a return on equity of 6.05%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 EPS.

Allete Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Thursday, May 15th were given a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date of this dividend was Thursday, May 15th. Allete’s dividend payout ratio is currently 91.54%.

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.