Olympiad Research LP Buys 3,819 Shares of ALLETE, Inc. (NYSE:ALE)

Olympiad Research LP lifted its stake in ALLETE, Inc. (NYSE:ALE) by 14.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 31,090 shares of the utilities provider’s stock after acquiring an additional 3,819 shares during the quarter. ALLETE accounts for 2.1% of Olympiad Research LP’s investment portfolio, making the stock its 6th largest position. Olympiad Research LP owned 0.05% of ALLETE worth $2,015,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in ALE. Glazer Capital LLC acquired a new position in shares of ALLETE in the 3rd quarter worth approximately $5,766,000. Tokio Marine Asset Management Co. Ltd. acquired a new stake in ALLETE during the 4th quarter worth approximately $5,378,000. Barclays PLC lifted its holdings in ALLETE by 187.1% during the 3rd quarter. Barclays PLC now owns 100,079 shares of the utilities provider’s stock worth $6,425,000 after buying an additional 65,222 shares in the last quarter. Jane Street Group LLC lifted its holdings in ALLETE by 107.8% during the 3rd quarter. Jane Street Group LLC now owns 121,631 shares of the utilities provider’s stock worth $7,807,000 after buying an additional 63,091 shares in the last quarter. Finally, ABC Arbitrage SA acquired a new stake in ALLETE during the 4th quarter worth approximately $3,201,000. 76.55% of the stock is currently owned by institutional investors and hedge funds.

ALLETE Price Performance

ALLETE stock opened at $65.44 on Friday. ALLETE, Inc. has a 52-week low of $55.86 and a 52-week high of $65.99. The company’s 50 day moving average is $65.25 and its two-hundred day moving average is $64.56. The company has a quick ratio of 0.69, a current ratio of 1.08 and a debt-to-equity ratio of 0.50. The firm has a market cap of $3.79 billion, a PE ratio of 21.11 and a beta of 0.80.

ALLETE (NYSE:ALE) last announced its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.87 EPS for the quarter, missing analysts’ consensus estimates 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 will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be given a $0.73 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from ALLETE’s previous quarterly dividend of $0.71. This represents a $2.92 dividend on an annualized basis and a dividend yield of 4.46%. ALLETE’s dividend payout ratio is currently 94.19%.

Analyst Upgrades and Downgrades

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

ALLETE 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.