Allete, Inc. $ALE Position Decreased by IFM Investors Pty Ltd

IFM Investors Pty Ltd decreased its holdings in shares of Allete, Inc. (NYSE:ALE) by 46.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,105 shares of the utilities provider’s stock after selling 3,560 shares during the period. IFM Investors Pty Ltd’s holdings in Allete were worth $270,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in ALE. Nuveen LLC bought a new position in shares of Allete during the 1st quarter valued at about $29,913,000. AQR Arbitrage LLC lifted its stake in Allete by 39.7% during the first quarter. AQR Arbitrage LLC now owns 1,183,682 shares of the utilities provider’s stock valued at $77,768,000 after buying an additional 336,210 shares in the last quarter. Alberta Investment Management Corp lifted its stake in Allete by 784.6% during the first quarter. Alberta Investment Management Corp now owns 282,202 shares of the utilities provider’s stock valued at $18,541,000 after buying an additional 250,302 shares in the last quarter. Absolute Gestao de Investimentos Ltda. lifted its stake in Allete by 52.9% during the first quarter. Absolute Gestao de Investimentos Ltda. now owns 388,753 shares of the utilities provider’s stock valued at $25,541,000 after buying an additional 134,578 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Allete by 7,468.1% during the first quarter. GAMMA Investing LLC now owns 120,560 shares of the utilities provider’s stock valued at $7,921,000 after buying an additional 118,967 shares in the last quarter. Institutional investors own 76.55% of the company’s stock.

Allete Price Performance

ALE stock opened at $63.30 on Friday. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 0.57. Allete, Inc. has a one year low of $63.05 and a one year high of $66.46. The firm has a market capitalization of $3.67 billion, a PE ratio of 19.97 and a beta of 0.84. The firm has a 50-day moving average of $65.05 and a two-hundred day moving average of $65.07.

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

Allete Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were paid a dividend of $0.73 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.92 dividend on an annualized basis and a yield of 4.6%. Allete’s dividend payout ratio is currently 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.