Teachers Retirement System of The State of Kentucky Has $1.24 Million Holdings in ALLETE, Inc. (NYSE:ALE)

Teachers Retirement System of The State of Kentucky trimmed its holdings in ALLETE, Inc. (NYSE:ALE) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,198 shares of the utilities provider’s stock after selling 400 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in ALLETE were worth $1,244,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ALE. Jones Financial Companies Lllp lifted its holdings in ALLETE by 30.9% during the 4th quarter. Jones Financial Companies Lllp now owns 729 shares of the utilities provider’s stock valued at $47,000 after purchasing an additional 172 shares during the last quarter. Fifth Third Bancorp raised its position in shares of ALLETE by 32.9% in the fourth quarter. Fifth Third Bancorp now owns 876 shares of the utilities provider’s stock valued at $57,000 after purchasing an additional 217 shares during the period. Headlands Technologies LLC acquired a new stake in shares of ALLETE during the 4th quarter worth about $73,000. Covestor Ltd lifted its stake in shares of ALLETE by 38.0% during the 4th quarter. Covestor Ltd now owns 2,410 shares of the utilities provider’s stock worth $156,000 after buying an additional 663 shares during the last quarter. Finally, KBC Group NV boosted its holdings in shares of ALLETE by 61.7% during the 4th quarter. KBC Group NV now owns 2,431 shares of the utilities provider’s stock worth $158,000 after buying an additional 928 shares during the period. 76.55% of the stock is currently owned by institutional investors.

ALLETE Stock Performance

ALE opened at $65.18 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.08 and a quick ratio of 0.69. The business has a fifty day simple moving average of $65.27 and a 200 day simple moving average of $65.03. ALLETE, Inc. has a 1 year low of $59.00 and a 1 year high of $65.99. The company has a market capitalization of $3.78 billion, a PE ratio of 21.03 and a beta of 0.69.

ALLETE (NYSE:ALE) last announced its earnings results on Tuesday, February 18th. The utilities provider reported $0.87 earnings per share (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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th will be given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 4.48%. ALLETE’s payout ratio is presently 94.19%.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of ALLETE in a report on Friday, January 10th. They issued 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.