Yorktown Management & Research Co Inc Makes New $305,000 Investment in ALLETE, Inc. (NYSE:ALE)

Yorktown Management & Research Co Inc acquired a new stake in shares of ALLETE, Inc. (NYSE:ALE) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 4,700 shares of the utilities provider’s stock, valued at approximately $305,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ALE. Creative Planning lifted its holdings in shares of ALLETE by 204.1% during the 2nd quarter. Creative Planning now owns 20,972 shares of the utilities provider’s stock valued at $1,308,000 after purchasing an additional 14,076 shares during the last quarter. CWM LLC lifted its holdings in shares of ALLETE by 13.7% during the 3rd quarter. CWM LLC now owns 4,352 shares of the utilities provider’s stock valued at $279,000 after purchasing an additional 525 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of ALLETE by 261.0% during the 3rd quarter. UMB Bank n.a. now owns 1,083 shares of the utilities provider’s stock valued at $70,000 after purchasing an additional 783 shares during the last quarter. Inspire Investing LLC lifted its holdings in shares of ALLETE by 98.9% during the 3rd quarter. Inspire Investing LLC now owns 11,184 shares of the utilities provider’s stock valued at $718,000 after purchasing an additional 5,561 shares during the last quarter. Finally, Inspire Advisors LLC lifted its holdings in shares of ALLETE by 1.6% during the 3rd quarter. Inspire Advisors LLC now owns 29,347 shares of the utilities provider’s stock valued at $1,884,000 after purchasing an additional 450 shares during the last quarter. Hedge funds and other institutional investors own 76.55% of the company’s stock.

ALLETE Price Performance

NYSE ALE opened at $65.61 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.45 and a quick ratio of 0.95. The stock’s fifty day moving average price is $65.03 and its 200 day moving average price is $64.45. ALLETE, Inc. has a 1 year low of $55.86 and a 1 year high of $65.95. The company has a market cap of $3.79 billion, a price-to-earnings ratio of 21.03 and a beta of 0.80.

ALLETE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be given a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 4.45%. This is an increase from ALLETE’s previous quarterly dividend of $0.71. The ex-dividend date is Friday, February 14th. ALLETE’s dividend payout ratio is presently 90.38%.

Wall Street Analyst Weigh In

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

ALLETE Company 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.