Polar Asset Management Partners Inc. Sells 20,000 Shares of ALLETE, Inc. (NYSE:ALE)

Polar Asset Management Partners Inc. lessened its holdings in ALLETE, Inc. (NYSE:ALE) by 25.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,000 shares of the utilities provider’s stock after selling 20,000 shares during the quarter. Polar Asset Management Partners Inc. owned 0.10% of ALLETE worth $3,888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Vermillion Wealth Management Inc. purchased a new position in shares of ALLETE during the 4th quarter valued at $404,000. Public Employees Retirement System of Ohio purchased a new position in shares of ALLETE during the 4th quarter valued at $72,000. Tidal Investments LLC lifted its position in shares of ALLETE by 285.9% during the 4th quarter. Tidal Investments LLC now owns 16,411 shares of the utilities provider’s stock valued at $1,063,000 after buying an additional 12,158 shares during the last quarter. Sagefield Capital LP lifted its position in shares of ALLETE by 100.9% during the 4th quarter. Sagefield Capital LP now owns 36,388 shares of the utilities provider’s stock valued at $2,358,000 after buying an additional 18,277 shares during the last quarter. Finally, Sona Asset Management US LLC lifted its position in shares of ALLETE by 46.8% during the 4th quarter. Sona Asset Management US LLC now owns 121,753 shares of the utilities provider’s stock valued at $7,890,000 after buying an additional 38,822 shares during the last quarter. Institutional investors own 76.55% of the company’s stock.

ALLETE Stock Up 0.0%

Shares of NYSE ALE opened at $64.98 on Monday. ALLETE, Inc. has a one year low of $61.51 and a one year high of $65.99. 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’s fifty day moving average price is $65.22 and its 200-day moving average price is $65.17. The stock has a market capitalization of $3.77 billion, a PE ratio of 20.96 and a beta of 0.82.

ALLETE (NYSE:ALE) last issued its quarterly earnings results on Thursday, May 8th. The utilities provider reported $1.01 EPS for the quarter, meeting analysts’ consensus estimates of $1.01. ALLETE had a return on equity of 5.97% and a net margin of 11.72%. The firm had revenue of $400.20 million for the quarter, compared to analysts’ expectations of $456.30 million. During the same quarter in the prior year, the firm earned $0.90 EPS. The business’s revenue for the quarter was down .8% compared to the same quarter last year.

ALLETE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be issued a dividend of $0.73 per share. The ex-dividend date is Thursday, May 15th. This represents a $2.92 dividend on an annualized basis and a yield of 4.49%. ALLETE’s dividend payout ratio (DPR) is 91.54%.

About ALLETE

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.