Deutsche Bank AG Has $2.90 Million Stock Position in Allete, Inc. $ALE

Deutsche Bank AG reduced its stake in shares of Allete, Inc. (NYSE:ALE) by 7.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 44,073 shares of the utilities provider’s stock after selling 3,480 shares during the quarter. Deutsche Bank AG owned 0.08% of Allete worth $2,896,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ALE. Fort Baker Capital Management LP acquired a new stake in shares of Allete during the 4th quarter worth $17,301,000. Alberta Investment Management Corp grew its holdings in shares of Allete by 784.6% during the 1st quarter. Alberta Investment Management Corp now owns 282,202 shares of the utilities provider’s stock worth $18,541,000 after purchasing an additional 250,302 shares in the last quarter. AQR Arbitrage LLC grew its holdings in shares of Allete by 30.4% during the 4th quarter. AQR Arbitrage LLC now owns 847,472 shares of the utilities provider’s stock worth $54,781,000 after purchasing an additional 197,340 shares in the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of Allete by 627.7% during the 4th quarter. Balyasny Asset Management L.P. now owns 165,730 shares of the utilities provider’s stock worth $10,739,000 after purchasing an additional 142,957 shares in the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Allete during the 4th quarter worth $8,741,000. 76.55% of the stock is owned by institutional investors and hedge funds.

Allete Stock Performance

ALE opened at $64.6090 on Wednesday. The firm has a market cap of $3.75 billion, a P/E ratio of 20.38 and a beta of 0.77. Allete, Inc. has a 52-week low of $63.00 and a 52-week high of $66.46. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.81 and a current ratio of 1.34. The business’s fifty day moving average is $65.20 and its 200-day moving average is $65.28.

Allete (NYSE:ALE) last released its earnings results on Thursday, August 7th. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.24). The company had revenue of $360.30 million for the quarter, compared to analyst estimates of $425.30 million. Allete had a return on equity of 5.71% and a net margin of 11.98%.The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period last year, the company posted $0.82 earnings per share.

Allete Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Friday, August 15th will be paid a $0.73 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.92 annualized dividend and a yield of 4.5%. Allete’s dividend payout ratio (DPR) is 92.11%.

Allete Company 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.