Allete, Inc. $ALE Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC lessened its holdings in Allete, Inc. (NYSE:ALE) by 14.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,481 shares of the utilities provider’s stock after selling 2,498 shares during the quarter. Voya Investment Management LLC’s holdings in Allete were worth $951,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ALE. Public Employees Retirement System of Ohio acquired a new position in Allete in the fourth quarter worth $72,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Allete by 24.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,831 shares of the utilities provider’s stock worth $572,000 after purchasing an additional 1,761 shares during the period. Versant Capital Management Inc lifted its stake in Allete by 309.4% in the first quarter. Versant Capital Management Inc now owns 1,175 shares of the utilities provider’s stock valued at $77,000 after buying an additional 888 shares during the last quarter. GAMMA Investing LLC lifted its stake in Allete by 7,468.1% in 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 during the last quarter. Finally, Tompkins Financial Corp bought a new stake in Allete in the first quarter valued at $94,000. Institutional investors and hedge funds own 76.55% of the company’s stock.

Allete Stock Performance

ALE stock opened at $64.02 on Thursday. 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 stock has a market capitalization of $3.72 billion, a price-to-earnings ratio of 20.20 and a beta of 0.84. Allete, Inc. has a 1 year low of $62.38 and a 1 year high of $66.46. The stock’s fifty day moving average is $64.75 and its two-hundred day moving average is $64.98.

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

Allete Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were paid a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date was Friday, August 15th. Allete’s dividend payout ratio (DPR) is presently 92.11%.

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.