ALLETE, Inc. (NYSE:ALE) Shares Bought by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. increased its stake in ALLETE, Inc. (NYSE:ALE) by 21,453.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,460 shares of the utilities provider’s stock after acquiring an additional 42,263 shares during the period. Harbor Capital Advisors Inc. owned approximately 0.07% of ALLETE worth $2,790,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ALE. Highbridge Capital Management LLC bought a new position in ALLETE during the 4th quarter valued at $54,592,000. Fort Baker Capital Management LP acquired a new stake in shares of ALLETE in the fourth quarter valued at $17,301,000. AQR Arbitrage LLC lifted its holdings in shares of ALLETE by 30.4% in the fourth quarter. AQR Arbitrage LLC now owns 847,472 shares of the utilities provider’s stock valued at $54,781,000 after buying an additional 197,340 shares during the period. Balyasny Asset Management L.P. boosted its stake in ALLETE by 627.7% during the fourth quarter. Balyasny Asset Management L.P. now owns 165,730 shares of the utilities provider’s stock valued at $10,739,000 after buying an additional 142,957 shares in the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new position in ALLETE during the fourth quarter worth about $8,741,000. Institutional investors and hedge funds own 76.55% of the company’s stock.

ALLETE Price Performance

Shares of NYSE ALE opened at $65.16 on Thursday. ALLETE, Inc. has a twelve month low of $61.51 and a twelve month high of $65.99. The company has a current ratio of 1.08, a quick ratio of 0.69 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of 21.02 and a beta of 0.80. The firm has a 50-day moving average of $65.13 and a two-hundred day moving average of $65.21.

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

ALLETE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Thursday, May 15th were paid a $0.73 dividend. The ex-dividend date was Thursday, May 15th. This represents a $2.92 dividend on an annualized basis and a yield of 4.48%. ALLETE’s dividend payout ratio is currently 91.54%.

ALLETE 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.