ALLETE Inc (NYSE:ALE) Chairman Alan R. Hodnik sold 4,000 shares of the firm’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $75.70, for a total value of $302,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

NYSE ALE traded down $0.01 on Friday, hitting $75.64. 5,848 shares of the company traded hands, compared to its average volume of 260,595. The company has a market capitalization of $3.87 billion, a PE ratio of 23.70, a price-to-earnings-growth ratio of 3.76 and a beta of 0.18. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.80 and a current ratio of 1.21. ALLETE Inc has a 52-week low of $66.64 and a 52-week high of $81.24.

ALLETE (NYSE:ALE) last released its earnings results on Thursday, August 2nd. The utilities provider reported $0.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by ($0.11). The company had revenue of $344.10 million for the quarter, compared to analysts’ expectations of $343.00 million. ALLETE had a net margin of 12.02% and a return on equity of 8.04%. ALLETE’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.72 earnings per share. sell-side analysts forecast that ALLETE Inc will post 3.34 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Saturday, September 1st. Investors of record on Wednesday, August 15th were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Tuesday, August 14th. This represents a $2.24 annualized dividend and a yield of 2.96%. ALLETE’s dividend payout ratio (DPR) is presently 70.22%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALE. BlackRock Inc. lifted its position in shares of ALLETE by 3.3% in the second quarter. BlackRock Inc. now owns 5,842,142 shares of the utilities provider’s stock valued at $452,239,000 after acquiring an additional 185,088 shares in the last quarter. Northern Trust Corp lifted its position in shares of ALLETE by 10.3% in the first quarter. Northern Trust Corp now owns 1,406,613 shares of the utilities provider’s stock valued at $101,627,000 after acquiring an additional 131,876 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of ALLETE by 4.1% in the second quarter. Victory Capital Management Inc. now owns 1,283,719 shares of the utilities provider’s stock valued at $99,373,000 after acquiring an additional 50,530 shares in the last quarter. Westwood Holdings Group Inc. lifted its position in shares of ALLETE by 110.7% in the first quarter. Westwood Holdings Group Inc. now owns 1,137,420 shares of the utilities provider’s stock valued at $82,179,000 after acquiring an additional 597,594 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of ALLETE by 4.8% in the second quarter. Dimensional Fund Advisors LP now owns 983,044 shares of the utilities provider’s stock valued at $76,098,000 after acquiring an additional 45,237 shares in the last quarter. Institutional investors own 73.26% of the company’s stock.

A number of equities analysts have recently issued reports on ALE shares. Zacks Investment Research upgraded ALLETE from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a research note on Friday, May 25th. ValuEngine upgraded ALLETE from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. Williams Capital downgraded ALLETE from a “buy” rating to a “hold” rating and lowered their target price for the company from $76.00 to $73.00 in a research report on Monday, June 11th. Finally, Guggenheim reiterated a “hold” rating and set a $71.00 target price on shares of ALLETE in a research report on Monday, July 23rd. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. ALLETE presently has a consensus rating of “Hold” and a consensus target price of $73.64.

ALLETE Company Profile

ALLETE, Inc operates as an energy company. The company operates through three segments: Regulated Operations, ALLETE Clean Energy, and U.S. Water Services. It generates electricity from coal-fired, natural gas-fired, biomass co-fired, hydroelectric, wind, solar, and other sources. The company provides regulated electric, natural gas, and water 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 145,000 retail customers and 16 non-affiliated municipal customers.

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