Monarch Partners Asset Management LLC trimmed its holdings in shares of ALLETE Inc (NYSE:ALE) by 29.7% in the fourth quarter, HoldingsChannel reports. The firm owned 139,540 shares of the utilities provider’s stock after selling 58,822 shares during the period. Monarch Partners Asset Management LLC’s holdings in ALLETE were worth $10,376,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of ALE. Macquarie Group Ltd. increased its stake in shares of ALLETE by 4,655.4% during the 3rd quarter. Macquarie Group Ltd. now owns 675,263 shares of the utilities provider’s stock worth $52,192,000 after purchasing an additional 661,063 shares in the last quarter. Vanguard Group Inc. grew its stake in ALLETE by 3.6% in the 2nd quarter. Vanguard Group Inc. now owns 4,960,166 shares of the utilities provider’s stock worth $355,545,000 after acquiring an additional 172,317 shares during the period. Lord Abbett & CO. LLC purchased a new stake in ALLETE in the 2nd quarter worth approximately $6,702,000. State Street Corp grew its stake in ALLETE by 4.1% in the 2nd quarter. State Street Corp now owns 1,328,131 shares of the utilities provider’s stock worth $95,203,000 after acquiring an additional 52,526 shares during the period. Finally, Westwood Holdings Group Inc. grew its stake in ALLETE by 19.7% in the 2nd quarter. Westwood Holdings Group Inc. now owns 267,397 shares of the utilities provider’s stock worth $19,167,000 after acquiring an additional 43,968 shares during the period. 73.26% of the stock is owned by institutional investors and hedge funds.

Several analysts have commented on ALE shares. Zacks Investment Research raised shares of ALLETE from a “sell” rating to a “hold” rating and set a $88.00 target price for the company in a research note on Tuesday, October 10th. JPMorgan Chase & Co. lifted their target price on shares of ALLETE from $66.00 to $73.00 and gave the stock an “underweight” rating in a research note on Thursday, October 12th. Williams Capital reaffirmed a “hold” rating and issued a $79.00 target price on shares of ALLETE in a research note on Thursday, October 12th. Finally, Ladenburg Thalmann Financial Services cut shares of ALLETE from a “buy” rating to a “neutral” rating and set a $78.00 target price for the company. in a research note on Friday, October 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $79.50.

Shares of ALLETE Inc (ALE) opened at $70.56 on Friday. ALLETE Inc has a 12 month low of $64.22 and a 12 month high of $81.24. The company has a market cap of $3,697.31 and a P/E ratio of 20.39. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.71.

ALLETE (NYSE:ALE) last announced its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.09. ALLETE had a net margin of 12.31% and a return on equity of 9.21%. The company had revenue of $362.50 million during the quarter, compared to analysts’ expectations of $358.23 million. equities analysts anticipate that ALLETE Inc will post 3.2 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be paid a dividend of $0.56 per share. The ex-dividend date is Wednesday, February 14th. This is a boost from ALLETE’s previous quarterly dividend of $0.54. This represents a $2.24 annualized dividend and a dividend yield of 3.17%. ALLETE’s payout ratio is currently 61.85%.

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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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