Citadel Advisors LLC decreased its holdings in shares of Allete, Inc. (NYSE:ALE) by 46.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,665 shares of the utilities provider’s stock after selling 16,434 shares during the period. Citadel Advisors LLC’s holdings in Allete were worth $1,443,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Allete by 8.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,802 shares of the utilities provider’s stock valued at $129,000 after buying an additional 141 shares during the period. Bronfman E.L. Rothschild L.P. grew its position in Allete by 2.7% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,872 shares of the utilities provider’s stock valued at $134,000 after buying an additional 49 shares during the period. LS Investment Advisors LLC grew its position in Allete by 5.6% during the second quarter. LS Investment Advisors LLC now owns 1,890 shares of the utilities provider’s stock valued at $135,000 after buying an additional 100 shares during the period. Meeder Asset Management Inc. grew its position in Allete by 925.0% during the third quarter. Meeder Asset Management Inc. now owns 1,763 shares of the utilities provider’s stock valued at $136,000 after buying an additional 1,591 shares during the period. Finally, Advisor Group Inc. grew its position in Allete by 2.1% during the second quarter. Advisor Group Inc. now owns 2,164 shares of the utilities provider’s stock valued at $140,000 after buying an additional 45 shares during the period. Hedge funds and other institutional investors own 73.14% of the company’s stock.
Allete, Inc. (ALE) opened at $79.42 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.34 and a quick ratio of 0.98. Allete, Inc. has a 1 year low of $61.64 and a 1 year high of $81.24. The company has a market cap of $4,014.27, a P/E ratio of 21.73, a PEG ratio of 4.01 and a beta of 0.47.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th were given a $0.535 dividend. The ex-dividend date was Tuesday, November 14th. This represents a $2.14 dividend on an annualized basis and a dividend yield of 2.69%. Allete’s dividend payout ratio (DPR) is currently 61.85%.
Several research firms recently weighed in on ALE. Zacks Investment Research upgraded shares of Allete from a “sell” rating to a “hold” rating in a research report on Monday, August 14th. J P Morgan Chase & Co increased their target price on shares of Allete from $66.00 to $73.00 and gave the stock an “underweight” rating in a research report on Thursday, October 12th. Ladenburg Thalmann Financial Services lowered shares of Allete from a “buy” rating to a “neutral” rating and set a $78.00 target price for the company. in a research report on Friday, October 20th. Williams Capital reiterated a “hold” rating and set a $79.00 target price on shares of Allete in a research report on Thursday, October 12th. Finally, ValuEngine upgraded shares of Allete from a “hold” rating to a “buy” rating in a research report on Thursday, September 7th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $80.25.
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ALLETE, Inc is an energy company. The Company’s segments include Regulated Operations, ALLETE Clean Energy, Inc (ALLETE Clean Energy), U.S. Water Services Holding Company (U.S. Water Services), and Corporate and Other. The Regulated Operations segment includes its regulated utilities, Minnesota Power, and Superior Water, Light and Power Company, and its investment in American Transmission Company LLC.
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