Citadel Advisors LLC Has $3.20 Million Holdings in ALLETE Inc (ALE)

Citadel Advisors LLC grew its stake in shares of ALLETE Inc (NYSE:ALE) by 130.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,051 shares of the utilities provider’s stock after acquiring an additional 24,386 shares during the period. Citadel Advisors LLC owned about 0.08% of ALLETE worth $3,202,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of ALLETE by 1.6% during the fourth quarter. BlackRock Inc. now owns 6,686,198 shares of the utilities provider’s stock valued at $497,185,000 after acquiring an additional 108,468 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of ALLETE by 0.5% during the fourth quarter. Victory Capital Management Inc. now owns 1,369,925 shares of the utilities provider’s stock valued at $101,868,000 after acquiring an additional 6,425 shares in the last quarter. Macquarie Group Ltd. raised its stake in shares of ALLETE by 4,655.4% during the third quarter. Macquarie Group Ltd. now owns 675,263 shares of the utilities provider’s stock valued at $52,192,000 after acquiring an additional 661,063 shares in the last quarter. Sei Investments Co. raised its stake in shares of ALLETE by 399.6% during the fourth quarter. Sei Investments Co. now owns 472,667 shares of the utilities provider’s stock valued at $19,278,000 after acquiring an additional 378,053 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of ALLETE by 10.0% during the fourth quarter. First Trust Advisors LP now owns 347,412 shares of the utilities provider’s stock valued at $25,834,000 after acquiring an additional 31,679 shares in the last quarter. 73.01% of the stock is owned by hedge funds and other institutional investors.

ALE has been the subject of several research analyst reports. Zacks Investment Research downgraded shares of ALLETE from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. JPMorgan Chase & Co. lifted their price target on shares of ALLETE from $73.00 to $76.00 and gave the company an “underweight” rating in a research note on Wednesday, November 15th. Williams Capital raised shares of ALLETE from a “hold” rating to a “buy” rating and set a $76.00 price target for the company in a research note on Friday, February 2nd. Wells Fargo & Co set a $71.00 price target on shares of ALLETE and gave the company a “hold” rating in a research note on Tuesday, February 13th. Finally, Guggenheim reaffirmed a “hold” rating and set a $63.00 price target on shares of ALLETE in a research note on Friday. Two analysts have rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $74.83.

ALLETE Inc (ALE) opened at $69.98 on Friday. The stock has a market cap of $3,580.00, a P/E ratio of 22.43, a P/E/G ratio of 3.33 and a beta of 0.33. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.77 and a current ratio of 1.05. ALLETE Inc has a 1-year low of $64.56 and a 1-year high of $81.24.

ALLETE (NYSE:ALE) last issued its quarterly earnings data on Thursday, February 15th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.13). The business had revenue of $337.90 million for the quarter, compared to analysts’ expectations of $348.00 million. ALLETE had a net margin of 12.13% and a return on equity of 8.40%. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.70 earnings per share. equities analysts predict that ALLETE Inc will post 3.36 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.20%. This is a positive change from ALLETE’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Wednesday, February 14th. ALLETE’s dividend payout ratio (DPR) is presently 71.79%.

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ALLETE Profile

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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Institutional Ownership by Quarter for ALLETE (NYSE:ALE)

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