Segall Bryant & Hamill LLC Decreases Position in ALLETE, Inc. (NYSE:ALE)

Segall Bryant & Hamill LLC cut its holdings in ALLETE, Inc. (NYSE:ALE) by 8.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 282,220 shares of the utilities provider’s stock after selling 25,948 shares during the period. Segall Bryant & Hamill LLC owned approximately 0.49% of ALLETE worth $18,288,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of ALLETE by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 6,365,190 shares of the utilities provider’s stock valued at $412,464,000 after acquiring an additional 20,624 shares during the last quarter. LPL Financial LLC boosted its position in ALLETE by 40.3% during the 4th quarter. LPL Financial LLC now owns 22,159 shares of the utilities provider’s stock valued at $1,436,000 after buying an additional 6,367 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in ALLETE by 54.5% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 169,707 shares of the utilities provider’s stock worth $10,997,000 after acquiring an additional 59,891 shares during the last quarter. Xponance Inc. increased its position in shares of ALLETE by 4.5% in the fourth quarter. Xponance Inc. now owns 8,198 shares of the utilities provider’s stock valued at $531,000 after acquiring an additional 356 shares during the period. Finally, Intech Investment Management LLC raised its stake in shares of ALLETE by 198.9% during the fourth quarter. Intech Investment Management LLC now owns 29,185 shares of the utilities provider’s stock valued at $1,891,000 after acquiring an additional 19,422 shares during the last quarter. 76.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on ALLETE in a report on Friday, January 10th. They set a “hold” rating on the stock.

ALLETE Price Performance

Shares of NYSE ALE opened at $65.47 on Wednesday. ALLETE, Inc. has a 1 year low of $56.66 and a 1 year high of $65.99. The stock has a market capitalization of $3.79 billion, a P/E ratio of 21.12 and a beta of 0.74. The company’s 50-day moving average is $65.55 and its 200 day moving average is $64.86. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.08 and a quick ratio of 0.69.

ALLETE (NYSE:ALE) last posted its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.87 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.15). ALLETE had a net margin of 11.72% and a return on equity of 5.97%.

ALLETE Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Friday, February 14th were given a dividend of $0.73 per share. The ex-dividend date was Friday, February 14th. This represents a $2.92 annualized dividend and a yield of 4.46%. This is a positive change from ALLETE’s previous quarterly dividend of $0.71. ALLETE’s dividend payout ratio (DPR) is currently 94.19%.

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.