ALLETE, Inc. (NYSE:ALE) Holdings Reduced by Oregon Public Employees Retirement Fund

Oregon Public Employees Pension Fund reduced its holdings in ALLETE, Inc. (NYSE:ALE – Free Report) by 16.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,946 shares of the utilities provider’s stock after selling 2,300 shares during the period. Oregon Public Employees Retirement Fund’s holdings in ALLETE were worth $745,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Wolverine Asset Management LLC purchased a new position in ALLETE during the second quarter valued at $2,141,000. Rhumbline Advisers boosted its stake in ALLETE by 2.5% in the second quarter. Rhumbline Advisers now owns 206,405 shares of the utilities provider’s stock valued at $12,869,000 after buying an additional 4,987 shares during the last quarter. Van ECK Associates Corp boosted its holdings in ALLETE by 9.4% in the second quarter. Van ECK Associates Corp now owns 14,877 shares of the utilities provider’s stock worth $928,000 after purchasing an additional 1,274 shares during the last quarter. Hantz Financial Services Inc. purchased a new stake in shares of ALLETE in the second quarter valued at $75,000. Finally, WBI Investments LLC purchased a new position in ALLETE in the 2nd quarter valued at $882,000. Institutional investors and hedge funds own 76.55% of the company’s shares.

Analyst upgrades and downgrades

A number of equities analysts recently commented on the company. StockNews.com assumed coverage on ALLETE in a research note on Wednesday, September 4th. They issued a “hold” rating on the stock. Mizuho upped their target price on ALLETE from $57.00 to $67.00 and gave the stock a “neutral” rating in a report on Thursday, May 16th. Five equities research analysts have rated the stock with a hold rating. The company has an average rating of “Hold” and a consensus price target of $62.00, based on data from MarketBeat.

Get the latest report on ALE

ALLETE stock performance

NYSE:ALE opened at $63.89 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.83, and a current ratio of 1.45. The company’s 50-day moving average is $63.65 and its 200-day moving average is $61.67. ALLETE, Inc. it has a 52-week low of $49.29 and a 52-week high of $65.86. The company has a market cap of $3.69 billion, a price-to-earnings ratio of 15.36 and a beta of 0.80.

ALLETE (NYSE:ALE – Get Your Free Report ) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.30). ALLETE had a net margin of 14.36% and a return on equity of 7.07%. The firm had revenue of $354.50 million for the quarter, compared to the consensus estimate of $547.24 million. In the same quarter last year, the company earned $0.90 per share. The company’s revenue fell 33.6% year over year.

ALLETE dividend announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were paid a dividend of $0.7005 per share. This represents a dividend of $2.80 on an annualized basis and a yield of 4.39%. The ex-dividend date was Thursday, August 15. ALLETE’s dividend payout ratio is 67.79%.

Profile ALLETE

(Free Report)

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, biomass/natural gas, hydroelectric, wind and solar. In addition, the company provides regulated electric service in northwestern Wisconsin to approximately 15,000 electric customers, 13,000 natural gas customers and 10,000 water customers, as well as regulated electric service in northeastern Minnesota to approximately 150,000 of retail customers and 14 unaffiliated municipalities. customers.

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